RetiredGypsy
Full time employment: Posting here.
- Joined
- Mar 17, 2008
- Messages
- 979
I have about $25,000 in cash, and a few expenses coming up:
- Interest Free Credit Card:
- New Vehicle (At 2.5% for 60 months):
- Getting A New Apartment:
The question is how much I'd be able to put on a card versus needing to write a check, but expenses I'm figuring are:
- Saving For A House:
I don't know what the best course of action is, with the overall goal being that I want to hold onto as much cash as possible, as early as possible in case I'm able to jump on a house a lot sooner than I anticipate. At the same time, I'd hate to lose money on higher interest rates due to a higher debt/income ratio and high balance percentage on that particular card.
Does it make more sense to pay off the credit card at 0% interest, or make monthly payments of ~$555 until February 2018?
Does it make more sense to hold off on paying a larger down payment for a vehicle, and roll the taxes and fees into the loan, and then pay it all off quicker after I know what's left over after whatever's needed for the house?
- Interest Free Credit Card:
- $5,000 debt on $8,300 limit.
- Interest free until 2/2018
- New Vehicle (At 2.5% for 60 months):
- Down payment: $3,000 (10%)
- Taxes and fees: $3,000 (I don't know if it makes sense to roll these into the loan.)
- Getting A New Apartment:
The question is how much I'd be able to put on a card versus needing to write a check, but expenses I'm figuring are:
- Application fees: $150
- This month's rent: $900
- Last month's rent: $900
- Deposit: $500
- Pet deposit: $300
- Utilities fees: $250
- Saving For A House:
- The plan is to own a house before the end of next year. Looking at under $250,000.
- With the ability to use a VA Home Loan, I'm not really sure where I'd really need to sit on having cash on hand, but I figure odds are there will be some kinds of fees and taxes and setting up utilities and getting furniture and I can't even guess at what all else.
I don't know what the best course of action is, with the overall goal being that I want to hold onto as much cash as possible, as early as possible in case I'm able to jump on a house a lot sooner than I anticipate. At the same time, I'd hate to lose money on higher interest rates due to a higher debt/income ratio and high balance percentage on that particular card.
Does it make more sense to pay off the credit card at 0% interest, or make monthly payments of ~$555 until February 2018?
Does it make more sense to hold off on paying a larger down payment for a vehicle, and roll the taxes and fees into the loan, and then pay it all off quicker after I know what's left over after whatever's needed for the house?