Comments on: A Dollar a Day http://www.punchdebtintheface.com/2009/08/you-have-helped-me-save-dollar-day.html A fun personal finance blog Sat, 11 Feb 2012 04:21:35 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Punch Debt In The Face http://www.punchdebtintheface.com/2009/08/you-have-helped-me-save-dollar-day.html#comment-1158 Punch Debt In The Face Wed, 12 Aug 2009 18:46:12 +0000 http://www.punchdebtintheface.com/?p=151#comment-1158 Not a bad idea Mr or Mrs. Anonymous. I may strongly consider something like that :) Not a bad idea Mr or Mrs. Anonymous. I may strongly consider something like that :)

]]> By: Anonymous http://www.punchdebtintheface.com/2009/08/you-have-helped-me-save-dollar-day.html#comment-1157 Anonymous Wed, 12 Aug 2009 18:44:59 +0000 http://www.punchdebtintheface.com/?p=151#comment-1157 Since you are talking about a 5 month time period if you were to take 10k of your savings and put all 2k at the loan for 5 more months you are looking at negligible interest savings over the 5 month period to do the 10k now.<br /><br />Why not do the 2k a month and on the 5th month send the other 10k. This would only open you to 5 months of risk rather than 10 while you rebuild your savings. Since you are talking about a 5 month time period if you were to take 10k of your savings and put all 2k at the loan for 5 more months you are looking at negligible interest savings over the 5 month period to do the 10k now.

Why not do the 2k a month and on the 5th month send the other 10k. This would only open you to 5 months of risk rather than 10 while you rebuild your savings.

]]> By: Punch Debt In The Face http://www.punchdebtintheface.com/2009/08/you-have-helped-me-save-dollar-day.html#comment-1126 Punch Debt In The Face Mon, 10 Aug 2009 22:23:41 +0000 http://www.punchdebtintheface.com/?p=151#comment-1126 Pretty solid financial advice ladies and gentlemen, I can always count on you to beat financial sense in to me. I think I will refrain from throwing all my savings at the student loan, but I will redirect more of my discretionary income at it to hopefully knock it out in a year. I'm sure I'll be keeping you posted (whether you want to be or not) :) Pretty solid financial advice ladies and gentlemen, I can always count on you to beat financial sense in to me. I think I will refrain from throwing all my savings at the student loan, but I will redirect more of my discretionary income at it to hopefully knock it out in a year. I'm sure I'll be keeping you posted (whether you want to be or not) :)

]]> By: SS4BC http://www.punchdebtintheface.com/2009/08/you-have-helped-me-save-dollar-day.html#comment-1125 SS4BC Mon, 10 Aug 2009 18:35:10 +0000 http://www.punchdebtintheface.com/?p=151#comment-1125 I'd do it if I were you, but only because I feel comfortable that I don't need THAT large of an emergency fund.<br /><br />Also, you can add that money you're using to pay for your student loans now to your house fund and it should grow pretty fast since interest will be working in your favor instead of against you.<br /><br />However, you should do whatever you feel comfortable with. If you feel like you need only 6 months of E-fund, then just pay that much down just to stop paying more money in interest than you need to.<br /><br />If I had the option to pay off all of my debt, but the consequence was that I only have 1 month of emergency fund I would do it in a heart beat, no questions asked. I'd do it if I were you, but only because I feel comfortable that I don't need THAT large of an emergency fund.

Also, you can add that money you're using to pay for your student loans now to your house fund and it should grow pretty fast since interest will be working in your favor instead of against you.

However, you should do whatever you feel comfortable with. If you feel like you need only 6 months of E-fund, then just pay that much down just to stop paying more money in interest than you need to.

If I had the option to pay off all of my debt, but the consequence was that I only have 1 month of emergency fund I would do it in a heart beat, no questions asked.

]]> By: DogAteMyFinances http://www.punchdebtintheface.com/2009/08/you-have-helped-me-save-dollar-day.html#comment-1124 DogAteMyFinances Mon, 10 Aug 2009 15:28:05 +0000 http://www.punchdebtintheface.com/?p=151#comment-1124 Unless your job is rock solid (unlikely) don't cash out your savings for Sallie. She'll go away soon enough. You need to be prepared if you lose your job, for now.<br /><br />Oh, and love the graphics, hot stuff. Unless your job is rock solid (unlikely) don't cash out your savings for Sallie. She'll go away soon enough. You need to be prepared if you lose your job, for now.

Oh, and love the graphics, hot stuff.

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