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re: Tips for paying off debt?
Posted on 6/25/15 at 3:50 pm to bwallcubfan
Posted on 6/25/15 at 3:50 pm to bwallcubfan
quote:
Depends on the situation, but yes, in general. For example, if I had $3000 left on my car, and had $8000 in cash, yes I'd pay it off in full.
Lets say ive got 15k left on a student loan and 16k in the bank...
2
Posted on 6/26/15 at 7:45 am to Hester Carries
quote:
Lets say ive got 15k left on a student loan and 16k in the bank...
I personally wouldn't...I just don't feel good about only having $1k. But I wouldn't fault someone for doing it.
Posted on 6/26/15 at 8:02 am to Hester Carries
quote:
Lets say ive got 15k left on a student loan and 16k in the bank...
Interest rate on loans?
I wouldn't pay it all off. You can likely use that money to earn larger returns in investments. Especially if you have a low interest rate. However if it was 8% or higher I would probably pay most of it off.
If I was in your situation, I would just put large payments each month towards your loans and invest a good chunk of that 15k, unless it's your emergency fund.
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