Merry Paid-For Christmas 2010

[ProfMoneyWise]

Interest is interest, debt is debt. There is no best time to make a payment at all.

You can play with the calculator and depending on the type of loan you have you can game the thing a bit and save a few dollars I suppose but I assert that if we were that good at math we would not have borrowed the money in the first place.

A friend of mines Grandfather used to say that if you need a car and have $5 then you buy a $5 car. No borrowing. I like the way he thought.

What I would have done is not have bought more car than I could pay for in full. That comes as no surprise I am sure. I just can't bring myself to use money I am paying a premium to use to pay on an item that depreciates in value at about 15% per year the first four years of its life.

Turning $40,000 into $15,000 in four years is not something I can get behind.

So when is the best time to make that extra payment? Tomorrow . . . in full.

 

[ProfMoneyWise]

Drive Free. Retire Rich.

Speaking of cars and financing . . . click on the link.

 

[ProfMoneyWise]

Another Christmas Gift to Self Idea: Start a Home Maintenance Fund. Set it up to always total 1% to 3% of your home's value and keep it separate to handle all things related to home maintenance and upkeep.

If your home is older, lean toward 3% as your total. It's yet another shield against life’s happenings.

Air filters, mower gas, broken window, Drano, paint, flowers . . . it costs to live in them over and above the Principal, Interest, Taxes, Insurance (PITI) and Home Owners Association dues. Don't be surprised when things break, plug or need gas. And these things need to be kept up with or your home's health and appearance will suffer.

If the furnace goes out that is Emergency Fund. If the garage door opener dies that is Home Maintenance.

Merry Paid-For Christmas!

 

[Chasey_Lane]

BTW- when's the best time to make that extra payment? I say right after the regular payment gets posted. Do you agree?

I pay extra on all my loans and write one check a month for each. I write "extra to principle" on the check, and I've never had a problem.

 

[ProfMoneyWise]

The Financial Ghosts of Christmas Past, Present and Future.

If you're not learning from the Past how to plan in the Present for a bright Future, your Christmases to come won't be worth looking forward to.

If you don't learn from the mistakes you made in the past you leave your financial future to chance and that's irresponsible, impacting not just you but those depending on you.

Merry Paid-For Christmas!

 

[ProfMoneyWise]

Collect all your credit card statements, put them in a box, and put the box under the Christmas tree.

Open the box on Christmas morning and stare at those statements. Vow that next Christmas will be different.

This gift is for you and your family. Each Christmas from this point forward will be better financially. This is a great gift to give and receive.

Merry Paid-For Christmas!

 

[ProfMoneyWise]

Merry Paid-For Christmas!

 

[Abc123]

I didn't charge a single gift this this year....yeahhhhh me!!!!!

 

[ProfMoneyWise]

Author: Unknown

Twas the day after Christmas, and all through the house,
Every creature was hurting-- even the mouse.

The toys were all broken, their batteries dead;
Santa passed out, with some ice on his head.

Wrapping and ribbons just covered the floor, while
Upstairs the family continued to snore.

And I in my T-shirt, new Reeboks and jeans,
Went into the kitchen and started to clean.

When out on the lawn there arose such a clatter,
I sprang from the sink to see what was the matter.

Away to the window I flew like a flash,
Tore open the curtains, and threw up the sash.

When what to my wondering eyes should appear,
But a little white truck, with an oversized mirror.

The driver was smiling, so lively and grand;
The patch on his jacket said "U.S. POSTMAN."

With a handful of bills, he grinned like a fox
Then quickly he stuffed them into our mailbox.

Bill after bill, after bill, they still came.
Whistling and shouting he called them by name:

"Now Dillard's, now Broadway's, now Penny's and Sears
Here's Levitz's and Target's and Mervyn's -- all here!!

To the tip or your limit, every store, every mall,
Now chargeaway-chargeaway-chargeaway all!"

He whooped and he whistled as he finished his work.
He filled up the box, and then turned with a jerk.

He sprang to his truck and he drove down the road,
Driving much faster with just half a load.

Then I heard him exclaim with great holiday cheer,
"ENJOY WHAT YOU GOT ... YOU'LL BE PAYING ALL YEAR!"