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Optimal savings/debt level? Help!
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Date: May 11th, 2012 3:00 PM Author: ebony generalized bond foreskin Brothers, this is the choice I face:
100k savings, 100k loans
50k savings, 50k loans
0 savings, 0 loans.
Huge factor: I have a low paying (50k/yr) job, so I can't replenish savings that quickly.
EDIT: Also, getting raped on the loans at 7.2% interest |
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Date: May 11th, 2012 3:02 PM Author: Crystalline Titillating Stead Circlehead If your job is secure, I would keep maybe $5-10k and pay down loans with the rest. (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20670252) |
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Date: May 11th, 2012 4:01 PM Author: multi-colored pervert faggot firefighter yep. op is a poor and needs to act like it. even 10k in loans is $720 in interest per year which is noticeable on $50k/year income. Make it $5k or $10k in savings, but then keep it there and pay any excess to loans each month. personally, I'd make it $5k or even $0 if I had credit cards that had high enough credit for emergencies |
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Date: May 11th, 2012 4:04 PM Author: Crystalline Titillating Stead Circlehead There's a convenience factor to consider as well. If you have a few grand in the bank, you can autopay your CC and all your other bills without ever worrying about having enough cash on hand.
Might be worth giving up a couple hundred a year in interest. |
Date: May 11th, 2012 3:02 PM Author: marvelous pit toaster 0,0 You aren't getting near 7.2 in any responsible investment |
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Date: May 11th, 2012 3:08 PM Author: Glittery Ocher Center you idiot, you realize liquidity gets a discount rate too dumbfuck (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20670289) |
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Date: May 11th, 2012 3:12 PM Author: marvelous pit toaster That's a lot of jargon. Here in reality you are torching a lot of money. (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20670318) |
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Date: May 11th, 2012 3:13 PM Author: Exciting parlour 180 (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20670333) |
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Date: May 11th, 2012 3:18 PM Author: Onyx razzmatazz police squad Greetings, BRUTALITY |
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Date: May 11th, 2012 3:22 PM Author: Glittery Ocher Center it means he might want more than a 7.2% return to bear the risk of losing his job and having 0 savings, you polisci shithead (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20670397) |
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Date: May 11th, 2012 3:51 PM Author: marvelous pit toaster Wait, you don't have parents to bail you out? That's scary and reckless. (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20670610) |
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Date: May 11th, 2012 3:55 PM Author: Glittery Ocher Center right, assuming he has no bailout possibility, would you still recommend 0,0? especially in light of his current 50k job which doesn't sound like he's all that skilled/marketable. (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20670634) |
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Date: May 11th, 2012 3:50 PM Author: boyish sanctuary associate MFE (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20670603) |
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Date: May 11th, 2012 3:11 PM Author: Lascivious menage jesus (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20670312) |
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Date: May 12th, 2012 12:50 PM Author: ebony generalized bond foreskin (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20676037) |
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Date: May 12th, 2012 12:55 PM Author: bull headed piazza ITE is crazy. Let's be risk adverse here. I'd pay off $80K and keep $20K. (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20676078) |
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Date: May 12th, 2012 12:55 PM Author: ebony generalized bond foreskin I'm leaning that way too, brother. (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20676085) |
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Date: May 12th, 2012 1:06 PM Author: bull headed piazza Paying a little bit of extra in interest is worth having the piece of mind to know that you have a nice stash in case things go bad. (http://www.autoadmit.com/thread.php?thread_id=1946181&forum_id=2#20676138) |