Author Topic: what should i do with extra cash?  (Read 1765 times)

FuckRx

  • Pencil Stache
  • ****
  • Posts: 788
what should i do with extra cash?
« on: February 28, 2014, 10:39:39 AM »

i have a bonus coming up which probably will be 3-5k and i also recently got about 8k from money someone owed me. my question is, what should i be doing with that? is it best invested or put towards loans?
i have my emergency fund of 15k in a betterment account, i would put it in a savings account but i just hate their return rates!
i have 110k in student loans and 24k in credit cards at 0%.
i know i can pay off the credit cards by end of this year.
i recently put 1k into a vanguard account to start investing in there.

so that's my spiel, any suggestions with the cash?

oldladystache

  • Pencil Stache
  • ****
  • Posts: 672
  • Age: 74
  • Location: coastal southern california
Re: what should i do with extra cash?
« Reply #1 on: February 28, 2014, 10:42:17 AM »
put it toward the loan with the highest interest rate.

Indio

  • Bristles
  • ***
  • Posts: 329
Re: what should i do with extra cash?
« Reply #2 on: February 28, 2014, 10:45:36 AM »
If the loans are fixed at 0% there is no rush, however it would probably be nice not to have them hanging over your head. You could always invest it. :)

Frankies Girl

  • Magnum Stache
  • ******
  • Posts: 2975
  • Age: 81
  • Location: The laboratory
  • Typical Ghoul Next Door
Re: what should i do with extra cash?
« Reply #3 on: February 28, 2014, 10:46:05 AM »
I would put it towards the debt, even though you'd earn better by investing in theory. I couldn't sleep at night with that much credit card debt hanging over my head. And if it is an intro rate that will expire at the end of the year, I'd not totally rely on being able to come up with the funds to kill it before it shot up. If you used your 8K plus your bonus, that would half the amount owed on the card. Again, not saying this is the best solution, but it's what I'd do.

How much interest on the school loans?


FuckRx

  • Pencil Stache
  • ****
  • Posts: 788
Re: what should i do with extra cash?
« Reply #4 on: February 28, 2014, 11:10:18 AM »

yea i get the same way when debt lingers over my head...
so the student loan is 2.75% and the credit card like you said is 0% until the end of the year...