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Michi
My Love
Member since 5/05 31600 total posts
Name:
M
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x
x
Message edited 12/16/2005 12:29:37 PM.
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Posted 12/16/05 10:53 AM  |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: ok so now that i got some money...lol
Pay off the credit card.
The question is... why put money into a 1% savings account... when you are paying anywhere from 10-20% interest on a credit card.
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| Posted 12/16/05 10:54 AM |
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FeliciaDP
♥
Member since 5/05 18599 total posts
Name:
Mommy
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Re: ok so now that i got some money...lol
Personally - pay down your credit card!
The interest alone is probably killing you
If you have anything left, then savings
But its always better to pay off the CCards, I know that before I got rid of all my CC debt that it was a killer every month
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| Posted 12/16/05 10:54 AM |
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LadyMaravilla
Fall Is Here
Member since 5/05 12023 total posts
Name:
Sonia
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Re: ok so now that i got some money...lol
If I were you, I would split into 3 parts. Spend some on anything I may need. Pay off some debt and put some away.
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| Posted 12/16/05 10:54 AM |
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unknown1
****
Member since 5/05 2771 total posts
Name:
lisa
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Re: ok so now that i got some money...lol
Posted by muchinluvmichi
INSTEAD OF SPENDING IT LIKE I WANNA..lol
do i put it all into savings? pay off the credit card debt OR split it??
Pay off credit card
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| Posted 12/16/05 10:54 AM |
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saraH
happy birthday sweet kate!
Member since 5/05 16555 total posts
Name:
I know that God exsists, I held her in my arms...
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Re: ok so now that i got some money...lol
credit card....i agree with pill ( shocker) but his idea makes the most sense
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| Posted 12/16/05 10:55 AM |
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LadyMaravilla
Fall Is Here
Member since 5/05 12023 total posts
Name:
Sonia
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Re: ok so now that i got some money...lol
Posted by BNL2005
credit card....i agree with pill ( shocker) but his idea makes the most sense
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| Posted 12/16/05 10:56 AM |
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FeliciaDP
♥
Member since 5/05 18599 total posts
Name:
Mommy
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Re: ok so now that i got some money...lol
Posted by BNL2005
credit card....i agree with pill ( shocker) but his idea makes the most sense
I know!  We all basically agreed with Pill, this must mean the world is ending?
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| Posted 12/16/05 10:58 AM |
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DonnaJoe708
Hello
Member since 5/05 4002 total posts
Name:
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Re: ok so now that i got some money...lol
Pay off the credit card...that's what I did with my bonus and the leftover money went into savings.
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| Posted 12/16/05 10:58 AM |
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saraH
happy birthday sweet kate!
Member since 5/05 16555 total posts
Name:
I know that God exsists, I held her in my arms...
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Re: ok so now that i got some money...lol
oh god its the apocalypse....
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| Posted 12/16/05 10:59 AM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: ok so now that i got some money...lol
Believe it or not... MOST people on this site agree with me on most occasions.
They just refuse to admit it publically, which I understand totally. 
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| Posted 12/16/05 11:00 AM |
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baghag
:P
Member since 5/05 10278 total posts
Name:
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Re: ok so now that i got some money...lol
Posted by LadyLainez
If I were you, I would split into 3 parts. Spend some on anything I may need. Pay off some debt and put some away.
Ditto. A treat for you, a chunk to CC debt and a little emergency cash.
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| Posted 12/16/05 11:00 AM |
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LadyMaravilla
Fall Is Here
Member since 5/05 12023 total posts
Name:
Sonia
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Re: ok so now that i got some money...lol
Believe it or not... MOST people on this site agree with me on most occasions.
They just refuse to admit it publically, which I understand totally.
we all secretly  Pill....
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| Posted 12/16/05 11:02 AM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: ok so now that i got some money...lol
Posted by baghag
and a little emergency cash.
If you need emergency cash that bad... you can always cash advance money out of your credit card.
I can understand getting yourself a small gift as a treat. But it doesn't make sense to have excess money sitting in a 1% savings account when you are only making minimum payments on a credit card.
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| Posted 12/16/05 11:02 AM |
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Shelly
She's 7!!!
Member since 8/05 14624 total posts
Name:
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Re: ok so now that i got some money...lol
I definitely say pay off a credit card.
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| Posted 12/16/05 11:03 AM |
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Bebalina
<3
Member since 6/05 2922 total posts
Name:
N
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Re: ok so now that i got some money...lol
pay off the credit card
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| Posted 12/16/05 11:05 AM |
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baghag
:P
Member since 5/05 10278 total posts
Name:
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Re: ok so now that i got some money...lol
Posted by DjPiLL
If you need emergency cash that bad... you can always cash advance money out of your credit card.
I can understand getting yourself a small gift as a treat. But it doesn't make sense to have excess money sitting in a 1% savings account when you are only making minimum payments on a credit card.
I'd rather have a little emergency $ sitting around than get a cash advance. Most CC's charge an exorbitant amount of interest for cash advances. 
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| Posted 12/16/05 11:06 AM |
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FeliciaDP
♥
Member since 5/05 18599 total posts
Name:
Mommy
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Re: ok so now that i got some money...lol
Posted by DjPiLL
Believe it or not... MOST people on this site agree with me on most occasions.
They just refuse to admit it publically, which I understand totally.
I only disagree wtih you on baseball threads Rich... (which I politely decline to comment on these days )
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| Posted 12/16/05 11:09 AM |
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QuoteTheRaven424
22 Months?!!!!
Member since 5/05 13659 total posts
Name:
And If That Isn't A True Blue Miracle
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Re: ok so now that i got some money...lol
michi
do you have a 401K at your place?
i would recommend paying off your debt first and then investing into a 401K or an IRA or even a 6 month CD
like rich said, putting it into savings will only net you 1% interest
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| Posted 12/16/05 11:12 AM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: ok so now that i got some money...lol
Posted by baghag
I'd rather have a little emergency $ sitting around than get a cash advance. Most CC's charge an exorbitant amount of interest for cash advances.
And I would rather pay high interest IF I need the cash. Thats the whole definition of an EMERGENCY. To only take cash when there is no other alternative.
Doing it your way... you are paying high interest regardless.
Doing it my way... you only pay high interest if and when you have the emergency. What if you never have that emergency you so feared? You just wasted a ton of cash for nothing.
And believe it or not... cash advances aren't too much higher of an interest rate than purchases. The main difference is... cash advances have their interests compounded daily... whether purchases are done monthly.
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| Posted 12/16/05 11:13 AM |
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Michi
My Love
Member since 5/05 31600 total posts
Name:
M
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Re: ok so now that i got some money...lol
thanks all, I wish i was rich : )
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| Posted 12/16/05 12:24 PM |
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