To pay something small OFF or put your money where it'll make the most difference based on the numbers
I'm seriously debating this because I'm paying off my $7K card today but I have about $1250 left over to pay down on another card.
What we have remaining is:
$9500 at 1.99% till July
$27500 at 7.75% (no special promotion, thats the normal card rate)
The minimum amount that I pay is $154 and $468/mo, respectively.
I could POSSIBLY pay off the smaller card if I take my inheritance and apply it to the card... but that leaves little for contingencies that will happen from moving & traveling this summer.
DH and I are still in a holding pattern regarding whether or not we are visiting his family while driving back. We're going to be doing the cross country move driving and have 4 kids and 2 pets (one really big golden retriever at that and the cat will have a litter box) during this move so I'm not exactly thrilled.
Dh wants to stay a week, and I don't get that much time off. But we also see his family maybe once every 2-3 years USUALLY, we just saw them last March though so this would be the shortest amount of time we went in between visits if we see them.
I told him we could do a couple things:
1) Stay longer but I just won't get paid that week since I won't have PTO
or visit some other time. His Dad isn't in the best health but he's not dying either so after losing my Dad I'm hesitant to tell him to wait to see family.
So I don't know. I have my inheritance of $10000 plus our $1000 EF... an upcoming move and credit cards to pay off. And I have no idea what I want to do with the money.
On the upside I talked to my CFO again and with us moving out to Nevada he said it wouldn't be a big deal for me to travel out to Los Angeles so I could finally meet the accounting team & what they do. He's really been my sounding board in trying to help me get to where I want to be professionally & has told me that if I'm in commuting distance from Reno, he may be able to help me get more connected to something that could help me get my CPA license.
I will probably be just outside of commuting distance unless I want to be like DH and travel 1 hr to work everyday. So we'll see. But I feel fortunate that although my growth in the company may be limited so long as I'm not in Los Angeles, the CFO has my back.
What's better?
February 11th, 2010 at 02:29 pm
February 11th, 2010 at 03:53 pm 1265903599
I also would not touch your EF or inheritence until after the move. Too many expenses come up! Once you are settled...maybe. Although you might just consider all that money your EF and just stay focused on paying off the cards.
February 11th, 2010 at 05:25 pm 1265909138
February 11th, 2010 at 06:41 pm 1265913679
February 11th, 2010 at 06:57 pm 1265914624
February 11th, 2010 at 10:16 pm 1265926572