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| I really could use the advice so if anyone out there knows of anything or anyone please let me I've looked at houses and know that it is time for me to get out on my own. My husband and I both ... |
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| Right now i have 3k now.. bfore couple of weeks i had 2k..as i said 500 per week is going to my savings acc...started to save only from AUG ..what u guys think.. i'm 31 yrsold..... |
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 Is a $40,000 /year salary a comfortable salary? |
To support one person living in a nice apartment, and cover the cost of food, rent, insurance, medical bills, clothing, etc? Plus "extra" for pets/christmas shopping?
Additional D... |
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 What can I do? |
I accidently overdrew my checking account last week by $7.00. I received a statement from the bank this week that I'm now
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so i got a 50 dollar target gift card . i dont have a need for anything at target.
1) if i buy something with the gift card, and then return it w/ the receipt will they give me cash back? (i ... |
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| We just can't seem to save, I'm such an impulse buyer, and my husband has a weakness for gourmet food. Any tips for us, or anyone trying to save money???... |
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| Help! I have some old debts hanging over me from about 10 yrs ago, after having moved home several times in those 10yrs i've lost track of who and how much i owe. How do i go about getting ... |
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| What I intend to do is to drastically reduce all my expenditures, without affecting my lifestyle to an extreme extent.... |
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and if so....will they liquidate your retirement?
Additional Details
oops...
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 I am drowning in debt and tired of juggling what bills to pay when... and for that matter...how?!? |
| Please help. I've done the debt management thing myself. I've called the creditors to lower our APR's as low as they can go, but we have so many cards opens (& some closed) w/ so ... |
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rex_chn | Living debt free or living with loans and investments, which is better? |
Around 75% of my salary is spent on loan repayment, I have investment in shares, I am planning to sell shares and close all loans and live debt free but without much investment, is it a wise decision? |
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Earl D
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Loans are tax deductable.
Investments are taxible. |
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Dinker
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It If so borrow the moneyall depends. What is your rate of interest? How is your credit score? Can you get interest only home equity line of credit? If so borrow , pay up your debt Review your investment. |
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shadabali2001
 |
i think i would agree with what moon has said. There's nothing worse then a credit card loan. Get rid of that if you got one. otherwise the right mix of debt and investment is not so bad. And like everything else your investment should be able to cover your loan at time of crises. In my view loan is not bad at all if you know how to use it. In terms of tax, loan is tax deductible but investment is not, but hey good news is your total deduction can offset your tax payable if not completely partially. So there you go again easy way to save money. Wonder where you have invested your money though?? |
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blkrose65
 |
living debt free is always good, and if you can have a few investments, even better! because not only are you free from debt, you're making money too! (cool!) |
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Koray
 |
Living dept free is not good, because it means you dont have future investments, you should close share investment loans and you can have your personal investments. |
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Brian
|
75% of salary is quite hefty for loan repayments. Forget about asking a financial advisor.
You should be asking yourself; is paying 75% of your salary eating you up? If it is, you should already know what you should do.
Unless you can manage your loans well; making sure all your investments pays more for your loans, otherwise it's better to be debt free.
Take a look at your investments portfolio, kill the dogs, keep the cash cows.
You've got some work to do!! |
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Grandma
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duh |
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Real Georgian
 |
Become Debt Free Advice We Can All Use
By: Paul Darvell |
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tweetymay
|
Not all loans are tax deductible!
You must pay interest on them! Read all your loan statements closely. Look at how much of your monthly payment is going towards interest! This is your money that you are paying to the loan institution for them to have loaned you money in the first place! This is money that could otherwise be going into a savings account that would earn interest FOR YOU!! |
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amyaliceco
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Well it depends on what kind of debt it is. If it's credit card debt then by all means get rid of it, the sooner the better. If it means cashing out a portfolio, sometimes it's worth. However there can be heafty monentary penalties, look before you leap. If however it's a school loan, relax, keep the investment, because the school loan was an investment and you should not view it as a negative. If it's a 401K plan you're cashing the penalties are vast, tred carefully there.
But after all that, the simple truth is, yes, it is better to be debt free. |
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sml
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Well, you should be working on both simotaniously. Any revolving debt is something you should work on getting out of asap, for sure. even students loans cause those can be revolving alot of the time. And you can't claim all loans on your taxes and there investments out there, such as a ROTH IRA that if you take out after 59 1/2 and have been having the funds in for more than 5 years are completely tax free when you take out. Honestly, you would need to sit down with someone that can help you and your personal situation. Something that can be customized to your needs...hopefully, your goal is to become debt free and financially independent... |
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navymt
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do your investments earn you more than you pay in loans? If not then I would look at cashing them in and reducing the loan.
Maybe not sell all of your investments though, just enought so that you can reduce the debt to a level where your investments can help you pay them off comfortably. 75% sounds a little excesive for loan repayments.
I AM NOT a financial advisor so please dont take my word as gospel, This is just what I would do. |
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Franco
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Long term, your investments will never appreciate more than your loan. And there is nothing better than freedom from worry. Get your priorities right. |
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