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Maybe I'm misreading the YNAB screens but it looks like you're already contributing to a house down payment, and I don't see a case for doing that while you still have a high-interest loan with significant balance. PS: Knyteguy posted:I'm holding $500 in savings for an oh-poo poo situation. I'll get that to a $1,000 oh-poo poo savings after the credit cards are paid off which should be on or around the 22nd when we both get paid. Gazpacho fucked around with this message at 17:49 on Jun 16, 2019 |
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Jun 15, 2019 06:25
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| # ¿ May 14, 2024 10:06 |
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Really it's up to you whether to keep $1000 or 1 month essentials in reserve. It's not written in stone and people suggest either one. Although you need to get on top of the RV debt ASAP, I believe that $500 can't cover the range of events that a starter emergency fund needs to cover (eg truck repairs, accidents, unpaid work absence).
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Jun 17, 2019 05:52
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Motronic posted:You really want to rent out an underwater "asset" to a bunch of people going to a drug fueled sex and music festival? That seems like really bad judgement for someone in your situation.  Payments on the RV will reduce its interest load significantly faster than payments on the truck. Arguably payments on the truck could enable you to get it above water and then trade it in at a profit (paid to the creditor) but that is complicating the decision with issues of depreciation and market conditions that I wouldn't know how to quantify.
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Jun 17, 2019 16:21
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Quick aside: Don't forget about the cards. You haven't shown their current rates but they are also high-rate debt that would normally have priority over moderate-rate debt.
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Jun 17, 2019 17:26
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I'm awfully curious whether that RV loan is on a secured basis. Did the creditor get that rate of interest _and_ a lien on the vehicle?
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Jun 18, 2019 21:03
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Sleazy car salesmen are a trope for a reason. One of the classic cons is focusing a buyer's attention on the finance plan (small numbers) while burying the price (big number). (This is not to say that buyers are helpless at a dealership. They're not. But dealers are practiced and they will play any angles that you leave open.) Gazpacho fucked around with this message at 01:45 on Jun 19, 2019 |
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Jun 19, 2019 01:37
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e: off-topic, probably
Gazpacho fucked around with this message at 06:17 on Jun 19, 2019 |
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Jun 19, 2019 06:15
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A charity! Multimillionaires start charities, not least so that they can unload appreciated investments that they'd rather donate than pay taxes on. Starting charities is not a middle class gig. Even contributing is ill advised for anyone who hasn't secured their income in old age. Gotta focus on the You Foundation first.
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Jun 19, 2019 21:35
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| # ¿ May 14, 2024 10:06 |
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The streets of San Francisco are not paved with gold and I ain't making no $250k a year there. Judging from your pattern, you'd find even more expensive stuff there to buy on credit and chain yourself down with.
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Jun 20, 2019 00:09
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