I'm so close to being debt free, but I don't know if I should string it out one more month into April.
Here's the deal:
my second paycheck for the month of March, I will have around $1,234
left to pay off my student loans and be 100% debt free! Should I just
use my emergency fund or something else to pay that $1,234 off this
month and get rid of the $5,800 left?
Emergency Fund Components:
Account 1 - $2,230
24 Month CD - Only on month 1 of 24 - $2,000 @ 2.09%
24 Month CD- Expires October 2010 - $1,057 @ 4%
6 Month CD - Matures March 10, 2010 but I get an additional .5% interest if I roll it over to continue 6 more months - $506 @ 1.75%
should I ask my brokerage account I trade stocks in for a check for the
stock I just sold? I was thinking of buying a particular company
really soon but the market has been going up so I haven't bought it yet
and have been waiting for prices to dip.
I have about $1,300
available in the brokerage account as proceeds from a recent sale. I
was going to use that to buy my next stock I am looking at. I kind of
don't want to use this money because if I buy this stock I want it will
return me a lot more than 3%, which is the interest I pay on my student
loan. I'm not very inclined to use the money out of there.
401(k) has $36,000 in it which I can't touch until I'm 65...so that's
out of the question. Once I get out of debt, I'm going to jack up my
contributions to 25% for three months to make up for not contributing
for the last three months. Then I'll take it down to more like 5-10%.
My employer gives 6% of our salary to our 401(k) so I have to remember
to add 6% to whatever amount I choose to contribute. If I contribute
5%, it would actually be 11%.
What should I do? Just be debt free in April? Or take the money from EF Account 1 and have almost nothing in my EF for a month?
finally almost there!! I get to KEEP my money instead of pay off my
education! I think it's funny when the school sends me requests for
donations and they try to say things about how you got a good value out
of it and the school got you a great job...to that I say... TELL THAT TO
THE ONES WHO GOT SCHOOL PAID FOR BY THEIR PARENTS :) I feel like 90%
of the students at my college didn't have to pay! There were only two
other people besides myself that I knew who had to pay. Although I
really want to donate, I'm like nehhhh I am not obligated to!! I paid
for my schooling! Maybe if I ever get really wealthy I will donate
some....but for now, I think $70,000 is enough! :P Even though that
includes my living expenses for 4 years...
There's a guy in my
sister's class who is apparently royalty in China and during a group
discussion game about race and opportunity, he shared that when he was
in his country he was part of the government and everyone made way for
him, but he blends in here and no one knows how rich he is. Guys like
him can donate!! :D