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The Watercooler
Need your advice on $ problems
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<blockquote data-quote="busywend" data-source="post: 159588" data-attributes="member: 391"><p>Well, for sure you do not want to end up with 2 monthly payments. So, your best bet would be to get a low cost used car for ~$10k and then put about $8k on the credit card. Then you need to get a loan of some sort to pay that off. If you have any interest on the credit card you will NEVER pay it off by just making payments. Get the loan - there is an end date that way. If you have 0% interest - keep it on the credit card account, but pay way more than mimum each month. Only do this while you have the 0% - if you lose that get a loan. </p><p> </p><p>Keep $2k in your savings account. It is important - especially these days to have some money you can get to quickly. They say to have at least 2 months worth of living in the savings account. </p><p> </p><p>And as far as I am concerned - buy yourself something special with some of the money. New bedding, new dishes, something you will appreciate and cherish - and think of your grandmother while enjoying it. </p><p> </p><p>As far as taxed go - this amount is tax free federally, but each state is different so do your homework with that first.</p></blockquote><p></p>
[QUOTE="busywend, post: 159588, member: 391"] Well, for sure you do not want to end up with 2 monthly payments. So, your best bet would be to get a low cost used car for ~$10k and then put about $8k on the credit card. Then you need to get a loan of some sort to pay that off. If you have any interest on the credit card you will NEVER pay it off by just making payments. Get the loan - there is an end date that way. If you have 0% interest - keep it on the credit card account, but pay way more than mimum each month. Only do this while you have the 0% - if you lose that get a loan. Keep $2k in your savings account. It is important - especially these days to have some money you can get to quickly. They say to have at least 2 months worth of living in the savings account. And as far as I am concerned - buy yourself something special with some of the money. New bedding, new dishes, something you will appreciate and cherish - and think of your grandmother while enjoying it. As far as taxed go - this amount is tax free federally, but each state is different so do your homework with that first. [/QUOTE]
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Need your advice on $ problems
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