i'll be getting about $1179 scholarship refund at the end of september. what should i do with it?
1. save. not really a good choice because anything i try to save (for the last 3 years!) gets BLOWN instead. save=blow i guess. we could try to save anyway, hope that knowing its for a downpayment keeps us from blowing it.
2. pay off 2 credit cards. sounds so nice. i'd still have at least 179 left after those 2 are paid off as well. i could use the extra to help pay my mom for babysitting (gas money, not really paying her)
3. buy a new vehicle. mine is in need of ... help. yes 1179 will get me a pretty nice one around here my dad's a mechanic anyway.
4. anybody have a better idea?
dh should be getting a similar ammount back as well... but we need to work on scheduling or that will go straight to bills to account for him not working those hours.
Do you have any savings? I would put $500 in savings and then put the rest towards credit cards.
Sienna 11/2/05 Michael 1/11/09
i would love to put it in savings, but this thing happens when i put it in savings. DH takes it out. if not by ATM, then by running the gas out of the vehicle and needing more to get to work (and i really like it when he goes to work) or by overdrawing the account and making it disappear (auto transfer from savings to checking)
and because of that, i'm not sure i'm able to save without him taking it out anymore, i think i forgot how.
or should i start a secret savings at another bank.... thats an option... at least it would stay saved, especially if it wasnt on my way to work.
The savings sounds like I good one, I would put it in something that you can't touch though. Paying credit cards is good too. I'd pay my past due bills.
* Amanda *
Have you heard of Dave Ramsey?
We heard of him through my cousin who read his book and so we liked so much what we heard/read that we ordered his FPU (Financial Peace University) and have been going through that.
Its like a series of babysteps that get helps to change your money and spending BEHAVIOR and budget and pay off debt to eventually become debt free.
Since then we have over a $1000 in Savings and have paid off 3 bills so far and working on the next one...for our debt snowball and are looking to be debt free next year. We are selling both our cars and getting cheaper ones which means no payment on my car...to pay off more debt with.
We've learned how to budget and use a envelope system for our $$ and in so doing we actually have MORE $$ in the bank because we never use our debit/check cards anymore. And it is fun to see how much $$ I can save us every month. I have literally saved $30-$40 at the grocery in coupons. I allot $450 for our on hand cash to be used for groceries/gas/playmoney and childcare and most of the time we have cash left over and we either use it for our debt snowball or for xtra childcare so I can do more kickboxing class.
Since we are getting our finances in order and learning how to use and spend our money wisely I hardly think of money...where its going...when its coming...or worry about it because I know where exactly every little cent of our paycheck is getting spent. Only to pay bills and do our budget for the month do I think about it. I LOVE it!!
Anyway if you can get a hold of his book. Total Money Makeover--its a great read and can change your life financially. Or check out his site, lot of GREAT information there!
i've heard of him, and more like read about him than actually read his books. i find that paying money for the book or system actually defeats the purpose of saving because i could put that towards something, but nobody has ever told me about the behavior changes needed.
i know what the babysteps are, i just cant seem to DO them.
i just checked the local library, they have the total money makeover but its checked out right now so.... i'll have to wait.
i have read "your money or your life" AND lots of Suze Orman, and i thought Dave Ramsey was similar.
i hate blaming it on DH, but i'm going to. its all his fault. he takes off with our $$ on a daily basis, and he plays food agaisnt me by tempting me with it. its horrible. explains why we lose money but not weight.
it looks like i can put a dent in our debt RIGHT NOW, because DH's brother owed us some $$ and paid us most of it last night, so i'm going to pay off our lowest credit card right now before the interst rate jumps (it was a promotional rate for balance transfers)