- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Advice on a money issue
Posted on 6/7/22 at 6:15 pm
Posted on 6/7/22 at 6:15 pm
I’ll have some spare money to play with here soon and am contemplating a couple options.
1) Paying off debt (mostly student loan but also some credit card) the student loan debt is at a relatively high rate due to stupidity as a youngin and I have too little left on the account to apply for a refi. Cc debt it would be going to is interest free for the next year or so. Just would like to get it knocked out so I don’t have to deal with it anymore.
2) add to savings for down payment on home wife and I hope (was a plan before economy started going to hell in a hand basket) to purchase around springtime.
Would it be better to do one over the other or some mix of both? Not putting the money towards a down payment likely pushes our timeline back a bit for purchasing which we’re both relatively fine with. It would also free up the monthly payments made on the student loan debt to be put towards that.
1) Paying off debt (mostly student loan but also some credit card) the student loan debt is at a relatively high rate due to stupidity as a youngin and I have too little left on the account to apply for a refi. Cc debt it would be going to is interest free for the next year or so. Just would like to get it knocked out so I don’t have to deal with it anymore.
2) add to savings for down payment on home wife and I hope (was a plan before economy started going to hell in a hand basket) to purchase around springtime.
Would it be better to do one over the other or some mix of both? Not putting the money towards a down payment likely pushes our timeline back a bit for purchasing which we’re both relatively fine with. It would also free up the monthly payments made on the student loan debt to be put towards that.
8
Posted on 6/7/22 at 6:19 pm to Pedro
Get rid of high interest debt
Posted on 6/7/22 at 6:37 pm to Pedro
Option 1
Posted on 6/7/22 at 6:42 pm to Pedro
(no message)
This post was edited on 10/26/22 at 9:34 am
Posted on 6/7/22 at 7:14 pm to Pedro
quote:
Paying off debt (mostly student loan
should you wait a few months and see if Biden pays them off before midterms?
Posted on 6/7/22 at 7:31 pm to Pedro
In today's market, pay off debt
Posted on 6/7/22 at 7:44 pm to Pedro
Pay off your debt. Being debt free is very, very liberating.
Posted on 6/7/22 at 8:02 pm to TigerintheNO
It’s private. That one won’t get helped by potato head.
Posted on 6/7/22 at 8:04 pm to footballdude
Thanks for the advice y’all 
Finances got a bit tighter than expected this month and wife and I are trying to get a better grip/plan in place. This is one of the only things that didn’t seem like an obvious choice.
Finances got a bit tighter than expected this month and wife and I are trying to get a better grip/plan in place. This is one of the only things that didn’t seem like an obvious choice.
Posted on 6/7/22 at 8:24 pm to Pedro
quote:
Finances got a bit tighter than expected this month
Then you don't need to be dropping several thousands or 10s of thousands on a house plus exposing yourself to potential maintenance that you couldn't afford.
Im not a pay off your debt because being debt free is liberating guy, but based on your facts you should knock out at least the student loans before buying a house.
If you have a handle on the CC debt and it's interest free then maybe you can do the house before it's paid off, but you definitely need to take care of the student loans first.
Posted on 6/7/22 at 8:38 pm to Pedro
It is obvious, in my opinion.
You have no business buying a house in this market with high interest student loan and credit card debt.
You have no business buying a house in this market with high interest student loan and credit card debt.
Posted on 6/7/22 at 8:55 pm to POCKET
I’m learning. Didn’t have a good financial base from either of our families so we’re having to figure a lot of this out on our own as we go. For the most part we’ve done well. We’ve put away a good bit in savings and have been chipping away at the debt (credit card debt was never particularly bad to begin with). Account I’m talking about was a few hundred dollar appliance purchase that was needed. Did a credit account to take advantage of the interest free payments. The added gas/grocery expenses has thrown a wrench into things (and is also exposing things like this that I probably should know but don’t).
Posted on 6/7/22 at 9:57 pm to Pedro
quote:
The added gas/grocery expenses has thrown a wrench into things
This is affecting my savings plans also. All of my investments became long and I had a few unexpected bills. Combined, I haven’t been able to save anything but 401K the last several months. Something has to change.
Posted on 6/7/22 at 10:28 pm to supadave3
Cook meals at home, don't eat out.
Turn off HVAC when you are away, turn on when you're back, at a tolerable temp. Turn it colder at night for sleep.
Don't be stupid. be smart. Be smart with everything you do. Everything.
Turn off HVAC when you are away, turn on when you're back, at a tolerable temp. Turn it colder at night for sleep.
Don't be stupid. be smart. Be smart with everything you do. Everything.
Posted on 6/7/22 at 10:29 pm to Xanthus
quote:
Turn off HVAC when you are away,
I don't know where TF you live, but if you did that in Louisiana or Texas it would literally be 100 degrees inside your house.
Posted on 6/7/22 at 10:36 pm to Mingo Was His NameO
Yeah, Mingo, live in the south. It's hot. Cross vent the house with window fans.
ETA: grandparents never used HVAC, they were in Laplace. Had window units in BR. Have central HVAC but don't use it often.
ETA: grandparents never used HVAC, they were in Laplace. Had window units in BR. Have central HVAC but don't use it often.
This post was edited on 6/7/22 at 10:41 pm
Posted on 6/8/22 at 11:23 am to jfw3535
quote:
Pay off your debt. Being debt free is very, very liberating.
And an 800+ credit score along with it
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News