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The Watercooler
What is the wise thing to do with extra money?
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<blockquote data-quote="LittleDudesMom" data-source="post: 144163" data-attributes="member: 805"><p>Tinamarie,</p><p> </p><p>You will probably get as many different answers as members!</p><p> </p><p>Personally were I in your position of wanting to take some time off this summer, I would pay off debt first. It is really important to have savings, but more important to not have debt. I pay my bills, pay my credit cards, and then whatever I save after groceries, kid's allowance, etc., I put in my ING savings account. It pays a minimum of twice what conventional savings accounts pay (even though they have gone down a full percent since January) and is currently at 3&#37; (which is better than just about any cd rate you can get right now).</p><p> </p><p>So in a nutshell, I would pay down some debt which means you wouldn't have as many payments, finance charges or interest on borrowed money this summer.</p><p> </p><p>Sharon</p></blockquote><p></p>
[QUOTE="LittleDudesMom, post: 144163, member: 805"] Tinamarie, You will probably get as many different answers as members! Personally were I in your position of wanting to take some time off this summer, I would pay off debt first. It is really important to have savings, but more important to not have debt. I pay my bills, pay my credit cards, and then whatever I save after groceries, kid's allowance, etc., I put in my ING savings account. It pays a minimum of twice what conventional savings accounts pay (even though they have gone down a full percent since January) and is currently at 3% (which is better than just about any cd rate you can get right now). So in a nutshell, I would pay down some debt which means you wouldn't have as many payments, finance charges or interest on borrowed money this summer. Sharon [/QUOTE]
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What is the wise thing to do with extra money?
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