sporky_rat: The Roman Orator from Rome, hand upraised. Text: Ahem (ahem)
[personal profile] sporky_rat
Hello, all!

I'm trying to whittle down my student loans as much as I can as well as the credit card statement that I use during the work-lean summers to help pay for groceries (those withdrawal pains are killer, I hear).

My question is, however, should I keep throwing as much money (On Time) at my loans and statement that I can afford or should I just keep at the minimum payment due? Now, I can't always pay more than the minimum but when I can, should I?

On the plus side, I've been able to save up a good bit in my savings account in the credit union!
alexseanchai: Blue and purple lightning (Default)
[personal profile] alexseanchai
I am getting a more substantial federal tax refund than I expected. MUCH more substantial. To the tune of, once I subtract what I'll need to put in savings to get that account over a grand, I can pay off my car. Or I can pay off my highest-interest-lowest-balance credit card and a substantial fraction of the next-highest-interest card.

I very badly want my dad's name off my car title, which I can't ask him for until I can prove his name's off my car loan. My last payment, if I don't lump-sum it when the refund shows, is in May. That payment is twice my next biggest loan payment, so the sooner I can use that part of the budget for other things, the better. On the other hand, the credit cards I'll pay if I don't pay off the car are the same ones I'd be paying with the ex-car-payment money if I do pay off the car, and the interest rates on those cards are about twice the rate on the car loan.

Opinions?

(It would be bad of me to buy the learn-to-piano software I want and the learn-to-sing software I want and the cute fannish denim jacket I want with some of the refund money, yes? It would be okay of me to buy one of these things, or a couple books adding up to the same dollar figure, with some of the refund money, yes?)

ETA: I asked my mother, she asked my father, and he says if he's not on the title, I can't be on the family insurance. Solo auto insurance is probably more expensive. I'll have the money for it, given the reduction in monthly total loan payments, but.

ETA2: Looks like a solo policy through my family's insurance company, assuming the same level of coverage as now and no loan on the car, will cost two-thirds my share of the family policy. The difference in a month's premium comes very nearly as high as what I'd save on interest by paying the credit cards; two months, I'm making money. Sold.
alexseanchai: Blue and purple lightning (Supernatural 3x16 Ruby my own reasons)
[personal profile] alexseanchai
Oh hey, comm activity.

Three major short-term financial goals. (1) New computer, one that cooperates with the software I need for my summer class. (2) Summer tuition paid in full. (3) Lowest-balance credit card paid in full.

By 'short-term' I mean my math says I can accomplish all three by Jul 2 with room to spare. More room if overtime is offered, but I can't count on there being overtime any more than I can count on Etsy sales. And my monthly spend-on-fun-things budget is hovering right about zero, so this is not gonna be fun.
alexseanchai: Blue and purple lightning (Default)
[personal profile] alexseanchai
Between Christmas and not spending shit, amazing how the money piles up. I seem to have four hundred dollars to spare. That's more than a third of my current goal for the rainy-day fund (goal, $1000, current total, $0). That's also enough to pay off the lowest-balance credit card (current total, just shy of $400). But not both.

Advice?

ETA: Taking the advice to put $100 in savings and $300 on the card. Next paycheck, this sucker is going down.
jamethiel: Money! (Money)
[personal profile] jamethiel
Hi guys. It's been a while since you heard from me, huh? I thought I'd give you a quick update.

Read more )
jamethiel: Money! (Money)
[personal profile] jamethiel
So. This comm has been a little quiet lately. A large part of this is because I lost the plot for a little while. I got out of nearly three grand's worth of credit card debt. Then I promptly got back into debt again. So this is going to be a post about what I have learned about getting out of debt and things I would do again, wouldn't do again and what didn't work for me.

The first step. )

Next: Try to stop. )
Balance transfers )
Pay yourself first )

Minimum repayments are not your friend )

Finally: don't short yourself )

Some philosophical stuff about the use of credit. )

A grab-bag of organisational stuff that I find helps. )

Future plans )

So, how are you all doing?

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