Hi, Guest
09-29-2005, 10:31 PM
(This post was last modified: 09-29-2005, 10:32 PM by Oscar The Grouch.)
darkpuppet,Sep 29 2005, 08:22 AM Wrote:ALWAYS pay off debt before saving money. making 2% on your investments won't offset the 23% you're paying on your credit cards.
ING is a pretty good way to go.... though I miss the days of 3%...
gonna move this out of the cage...
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Well, I like keeping a certain amount of debt. Reason being, if you pay it all off right now and have no savings, and if s**t hits the fan (like losing your job or a nasty divorce), then you have no savings to backup on.
And if you lose your job, the financial prospects of getting another loan are lower.
So my recommendation is to first pay off short term high interest debts (credit card, payday loans, etc), then save 4-6 months of wages in savings or highly liquid investements.
Then once that's done, start investing and put more money into paying off long term debts.
Sold:2001 SE 2.0L SPI w/60mm TB, Steeda Shorty Intake.
Active: 2007 SES Hatch, Motegi MR7 Rims with 215/45ZR17 Michelin Pilot Super Sport Tires, debadged, black painted calipers and drums, RS Knob, CFM Short Throw, Billet E-Brake, CFM Focus pedals, MBRP Exhaust, XCal2, FS Front and Rear Strut Tower Bars, Diamond Plate Floor Mats and Sills, Alpine MP3 Deck, Alpine V-Power 300w Amp, Pioneer IMPP Sub, AlpineType-S door speakers, VF Engineering Rear Motor Mount, F2 RS Spoiler, Tokico D-spec shocks, HTP Cross Brace, EBC Rotors, Hawk HPS Pads, Russell SS Brake Lines, RS Wheel, SVT Blue Seats, Vibrant 2.5" Race Highflow Cat, CFM UDP. Rear SVT bumper to come.
Active: 2005 Jeep Wrangler Unlimited TJ [LJ], Volant CAI, 32" BFG Mud Terrains, and a whole bunch of goodies.
Active: 2007 SES Hatch, Motegi MR7 Rims with 215/45ZR17 Michelin Pilot Super Sport Tires, debadged, black painted calipers and drums, RS Knob, CFM Short Throw, Billet E-Brake, CFM Focus pedals, MBRP Exhaust, XCal2, FS Front and Rear Strut Tower Bars, Diamond Plate Floor Mats and Sills, Alpine MP3 Deck, Alpine V-Power 300w Amp, Pioneer IMPP Sub, AlpineType-S door speakers, VF Engineering Rear Motor Mount, F2 RS Spoiler, Tokico D-spec shocks, HTP Cross Brace, EBC Rotors, Hawk HPS Pads, Russell SS Brake Lines, RS Wheel, SVT Blue Seats, Vibrant 2.5" Race Highflow Cat, CFM UDP. Rear SVT bumper to come.
Active: 2005 Jeep Wrangler Unlimited TJ [LJ], Volant CAI, 32" BFG Mud Terrains, and a whole bunch of goodies.
