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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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So Here's a Financial ??? for ya
If you needed $10K liquid for some upcoming temporary expenses with it being replaced in about a year where would you draw it from?
Your bank account
Your brokerage account
Your 401(k)
Your home equity
Low interest credit card
Combo of more than one of these
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Posted 8/16/07 4:13 PM  |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: So Here's a Financial ??? for ya
bank acct
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| Posted 8/16/07 4:14 PM |
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salumunz
Chloe
Member since 1/06 1554 total posts
Name:
Patty
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Re: So Here's a Financial ??? for ya
Posted by SweetestOfPeas
bank acct
Same here.
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| Posted 8/16/07 4:15 PM |
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MissJones
I need a nap!
Member since 5/05 22150 total posts
Name:
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Re: So Here's a Financial ??? for ya
Bank Account.
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| Posted 8/16/07 4:15 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: So Here's a Financial ??? for ya
even if it meant dipping your bank account below the comfort zone?
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| Posted 8/16/07 4:15 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: So Here's a Financial ??? for ya
Posted by Blu-ize
even if it meant dipping your bank account below the comfort zone?
yes. borrowing from yourself has the least amount of fees.
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| Posted 8/16/07 4:17 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: So Here's a Financial ??? for ya
Posted by SweetestOfPeas
Posted by Blu-ize
even if it meant dipping your bank account below the comfort zone?
yes. borrowing from yourself has the least amount of fees.
the thing is if you run into a situation where you need more cash, you've already dipped below the comfort level.
Message edited 8/16/2007 4:21:47 PM.
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| Posted 8/16/07 4:21 PM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: So Here's a Financial ??? for ya
Bank account. It's the only thing that I won't lose money on (paying interest, etc.)
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| Posted 8/16/07 4:21 PM |
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BlueDiamonds
mommy to 3 boys
Member since 2/07 3885 total posts
Name:
proud mommy
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Re: So Here's a Financial ??? for ya
i had to do this once and used a no interest credit card that had an 18 month grace period. if that wasn't an option i might do a combo of bank account and credit card. i hate going below my comfort level and i would never pull from 401K.
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| Posted 8/16/07 4:21 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: So Here's a Financial ??? for ya
Posted by Blu-ize
Posted by SweetestOfPeas
Posted by Blu-ize
even if it meant dipping your bank account below the comfort zone?
yes. borrowing from yourself has the least amount of fees.
the thing is if you run into a situation where you need more cash, you've already dipped below the comfort level.
at that point I would seek other options. that's a "what if".
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| Posted 8/16/07 4:22 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: So Here's a Financial ??? for ya
Posted by BlueDiamonds
i had to do this once and used a no interest credit card that had an 18 month grace period. if that wasn't an option i might do a combo of bank account and credit card. i hate going below my comfort level and i would never pull from 401K.
I was thinking of a 0% card and bank account..I have that option.
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| Posted 8/16/07 4:23 PM |
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JennZ
MY LIFE!!
Member since 8/05 25463 total posts
Name:
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Re: So Here's a Financial ??? for ya
Bank acct.
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| Posted 8/16/07 4:23 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: So Here's a Financial ??? for ya
Posted by SweetestOfPeas
Posted by Blu-ize
Posted by SweetestOfPeas
Posted by Blu-ize
even if it meant dipping your bank account below the comfort zone?
yes. borrowing from yourself has the least amount of fees.
the thing is if you run into a situation where you need more cash, you've already dipped below the comfort level.
at that point I would seek other options. that's a "what if".
yep and the what if is probably going to happen. Concerned about cash flow.
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| Posted 8/16/07 4:26 PM |
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DRMom
Two in Blue
Member since 5/05 20223 total posts
Name:
Melissa
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Re: So Here's a Financial ??? for ya
I would do the O% CC and take out a cash advance. You can do a google search for exactly what you're loooking for
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| Posted 8/16/07 4:28 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: So Here's a Financial ??? for ya
Posted by Blu-ize
Posted by SweetestOfPeas
Posted by Blu-ize
Posted by SweetestOfPeas
Posted by Blu-ize
even if it meant dipping your bank account below the comfort zone?
yes. borrowing from yourself has the least amount of fees.
the thing is if you run into a situation where you need more cash, you've already dipped below the comfort level.
at that point I would seek other options. that's a "what if".
yep and the what if is probably going to happen. Concerned about cash flow.
see if you can borrow for 0% from a credit card. if you can, I would do that instead.
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| Posted 8/16/07 4:28 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: So Here's a Financial ??? for ya
Posted by Blu-ize
Posted by BlueDiamonds
i had to do this once and used a no interest credit card that had an 18 month grace period. if that wasn't an option i might do a combo of bank account and credit card. i hate going below my comfort level and i would never pull from 401K.
I was thinking of a 0% card and bank account..I have that option.
that is what I would do. Most if not all the other suggestions would mean you would have to pay fees/penalties/etc to withdraw the $$$
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| Posted 8/16/07 4:35 PM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: So Here's a Financial ??? for ya
0% cc or home equity
bank account-hahahahahahahahahahaha!!!!!!!!!
Am I the only one with like NOTHING in their bank account???!!
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| Posted 8/16/07 4:42 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: So Here's a Financial ??? for ya
Posted by hazeleyes33
0% cc or home equity
bank account-hahahahahahahahahahaha!!!!!!!!!
Am I the only one with like NOTHING in their bank account???!!
that's it...we're pretty leveraged right now. I could liquidate in brokerage without fees, I could borrow from 401(k) without fees since I would pay it back to myself, I could take a HELOC out and do some home improvements while I'm at it. We have a good amt of equity but again, the market!
We have much more money in our retirement accounts, our house and our brokerage although I don't want to sell off positions low in this market.
0% card sounds good for the stuff I can charge. I guess the rest will come from the bank accounts.
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| Posted 8/16/07 5:10 PM |
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leighla
Support Cancer Research
Member since 5/05 16353 total posts
Name:
Lauren
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Re: So Here's a Financial ??? for ya
Home equity loan.
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| Posted 8/16/07 5:20 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: So Here's a Financial ??? for ya
I would go for the bank account.
I always anticipate that I may not be able to pay within the dateline for the "free" fees. I always think of the "what if". So, what if you cannot pay the CC with the free six months no fee, or what if you are laid off and need to repay your 401k to avoid the early withdrawl penalty and tax, etc...
You could always retrieve more money later from CC, 401K if you had an emergency.
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| Posted 8/16/07 5:49 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: So Here's a Financial ??? for ya
when you think of credit card, cash advance are not part of 0% deals....
balance tranfer checks can sometimes be deposted into your checking account.
make sure you read the rules...
to answer your question, 0 percent balanace transfer...since it is an option to you or combine both worlds, balance transfer and some cash/savings
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| Posted 8/16/07 6:56 PM |
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HoneyBadger
YourWorstNightmare.
Member since 10/06 15979 total posts
Name:
BahBahBlackJeep
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Re: So Here's a Financial ??? for ya
I would borrow against my 401(k). It's not like you don't intend to pay the money back.
As for CC - I'm always leary about them. I just wouldn't want that much CC debt in one shot.
The only other option I would take is doing a HELOC.
ETA:
Taking that from our bank account isn't even an option right now.
Message edited 8/16/2007 7:01:03 PM.
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| Posted 8/16/07 7:00 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: So Here's a Financial ??? for ya
Posted by Jennie0898
I would borrow against my 401(k). It's not like you don't intend to pay the money back.
As for CC - I'm always leary about them. I just wouldn't want that much CC debt in one shot.
The only other option I would take is doing a HELOC.
ETA:
Taking that from our bank account isn't even an option right now.
at the end, the 401k could cost more because you will be penalized by taking it out and/or not paying it back within a year. any other method, (cc/ heloc) would be less of a fee.
debt is debt, it dosen't matter where it lies...
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| Posted 8/16/07 7:02 PM |
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CarlieJLD7
I love my daughter!
Member since 7/07 3061 total posts
Name:
Carlie
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Re: So Here's a Financial ??? for ya
I would personally do a 0% APR CC, BUT... you have to pay it every month or those charges will MURDER YOU!
Or... maybe you have the option of taking money out of your morgate if you have one?
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| Posted 8/16/07 7:06 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: So Here's a Financial ??? for ya
I would use the 0% CC and make sure I paid it enough every month so that would never pay interest- or be ready to transfer the balance again before it comes do
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| Posted 8/16/07 7:24 PM |
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