What would you do?

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lindz27
iVillage Member
Registered: 08-26-2009
What would you do?
14
 Mon, 02-14-2011 - 8:46am

We got our taxes done this past Saturday, and ended up with a 6K refund, which is great. But

Samantha 6 months

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marketingvirgo
iVillage Member
Registered: 12-31-2010
In reply to: lindz27
Re: What would you do?
 Mon, 02-14-2011 - 9:05am

This is money you did not expect, so it is best to put it to good use as soon as possible, so it does not get spent.

Do you have an emergency fund?

#Marie
ktqt07
iVillage Member
Registered: 10-17-2010
In reply to: lindz27
Re: What would you do?
 Mon, 02-14-2011 - 9:11am

Wow, that's a good chunk of money you guys are set to get back.

ma2connor
iVillage Member
Registered: 03-27-2005
In reply to: lindz27
Re: What would you do?
 Mon, 02-14-2011 - 9:44am

With the debt that you have I wouldn't be thinking about spending money on unneccessary upgrades to your home or property.

kmotto2002
iVillage Member
Registered: 05-26-2004
In reply to: lindz27
Re: What would you do?
 Mon, 02-14-2011 - 12:18pm

Why do you guys get such a BIG refund???

galstorelady
iVillage Member
Registered: 11-14-2008
In reply to: lindz27
Re: What would you do?
 Mon, 02-14-2011 - 12:24pm

You knew you were going to get all different

lindz27
iVillage Member
Registered: 08-26-2009
In reply to: lindz27
Re: What would you do?
 Mon, 02-14-2011 - 12:47pm

Yes, I did realize I would get all different answers. But that is what makes this board great. Things to think about and consider.

I should have mentioned. I have plenty of savings. We have 6k in savings.. Most would think that is alot, but with a rental property and a baby, it gives me piece of mind. I

Samantha 6 months
gotarock13
iVillage Member
Registered: 11-02-1999
In reply to: lindz27
Re: What would you do?
 Mon, 02-14-2011 - 1:15pm

I, too, would throw as much as possible to the BOA loan and hold off on the student loans for now.










girly_girl13
iVillage Member
Registered: 04-10-2003
In reply to: lindz27
Re: What would you do?
 Tue, 02-15-2011 - 12:20pm
I agree with others. Take 1K and pick a project. Put the rest toward BOA. You will cut so much off the life of that loan! Good luck!

Bex -

mizliz23
iVillage Member
Registered: 12-10-2009
In reply to: lindz27
Re: What would you do?
 Tue, 02-15-2011 - 8:11pm

I would also put

Liz


Student loan paid in full 2/2010


S

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2locachicas
iVillage Member
Registered: 05-14-2003
In reply to: lindz27
Re: What would you do?
 Wed, 02-16-2011 - 11:27am
I would put all 13000 towards bank of America(the 12k plus 1k from savings) Your #1 goal is to behome with the baby and this would definitely go a LOOONG way towards helping this. Then if you keep your payments at 400 a month you will pay it off before you know it. Once you pay it off you will have time to decide if you want to put that 400 towards house projects for a bit or keep it rolling.

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