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re: Will be totally debt free in about three weeks. Where to put extra $?

Posted on 1/8/13 at 4:49 pm to
Posted by buddhavista
Member since Jul 2012
3543 posts
Posted on 1/8/13 at 4:49 pm to
quote:

I wouldn't leave a balance on it. Pay off the card and just use it to buy gas once a month. If it's a rewards card I would use it for all purchases and pay off in full at the end of the month (what me and the wife currently do). That's if you are good with money and have self control.


Definitely keep the credit card, worse cases its nice to have for emergencies or large purchases. I was debt free for 7 years until december, when I purchased a new car. I only did this b.c to get the bonus cash you had to finance. I will pay it off in the next few weeks.

its a great feeling and congrats.
Posted by Bill Parker?
Member since Jan 2013
4490 posts
Posted on 1/11/13 at 1:54 am to
If you have a family and think you might relocate in a few years, don't buy lots now. Rates will eventually increase, but try to put that out of your mind (which is about impossible to do).

Here is the reason why: As hard as it is to rationalize, you are buying a home and not a house. You will need to find the right area.

Now if you are single or without kids, you can approach it slightly differently.
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