Posted on: 05th Oct, 2008 07:54 pm
I AM A WIDOWER.
Need a little more on the scenerio.
If you have $4000 in debt and are trying to purchase a home and it's inhibiting you to do so, then pay them off.
If it is going to deplete your savings, make out your own time line for paying them off. You certainly don't want to get into a pickle b/c you have no savings.
If you have $4000 in debt and are trying to purchase a home and it's inhibiting you to do so, then pay them off.
If it is going to deplete your savings, make out your own time line for paying them off. You certainly don't want to get into a pickle b/c you have no savings.
i agree with you, elnora. we don't have enough information to adequately answer the question.
that being said, however, i would opine that paying off a minimal amount of debt, such as $4000 cited, is probably an excellent idea. of course, shay, depending on your current asset situation, you may want to heed elnora's advice to eliminate that debt a little slower - again, if you don't have the cash assets you'll want to have anyway.
sorry about that last sentence - it's sloppy, but i'm not (momentarily) capable of making it especially neater. please don't ask for an explanation - it's involved!
wow...i sound like an idiot - my next post will be better, i assure you.
that being said, however, i would opine that paying off a minimal amount of debt, such as $4000 cited, is probably an excellent idea. of course, shay, depending on your current asset situation, you may want to heed elnora's advice to eliminate that debt a little slower - again, if you don't have the cash assets you'll want to have anyway.
sorry about that last sentence - it's sloppy, but i'm not (momentarily) capable of making it especially neater. please don't ask for an explanation - it's involved!
wow...i sound like an idiot - my next post will be better, i assure you.
I HAVE OVER 30,000 DOLLARS IN A SAVINGS & I HAVE MY OWN HOME THAT IS 30 YR FIX. MY HUSBAND PASSED 1 1/2 YRS AGO & I JUST DO NOT LIKE BILLS. I WANTED TO KNOW IF I WOULD BENEFIT BY PAYING THOSE OFF & PUT THE MONTHLY PAYMENTS TOWARD MY SAVINGS AFTER PAYING OFF THE 2 CREDIT CARDS.
THANKS
THANKS
sharion, it's hard to give you a reasonable answer without knowing the extent of your debt. however, it seems you're in pretty good position with that savings. you'll want to hold on to a good portion of that, of course. you also didn't mention income - if you can retire your credit card balances with your income alone, that will allow you to leave your savings be.