Have you tried calling your CC company and asking for a lower interest rate?
Not yet, but I think I AM going to do that before considering the loan. What's the worst that can happen, right?
Uhhhhh...they wouldn't RAISE my rate, would they???
(only semi-joking)
Ya know, when I first got that card, the limit on it was $500. Then about every year or so they'd automatically increase it - $500 to $1000, $1000 to $1500, until I eventually got a $6k limit on my card.
Should I take it as a "sign" for anything (especially getting a better rate) that they HAVEN'T raised the limit in over a year now?
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Bull hockey on the cars.
I live out in "the sticks" with a 30-mile commute each day - a car is NOT an "option" for me, it's a must.
My car is a 2003 Subaru Impreza 2.5 RS (thank GOD I didn't get a Turbo, between ins. rates and PREMIUM gas prices!). I bought it "very lightly used." As I said, I plan on paying it off and keeping it until it falls apart. My dad asked when I was gonna trade up, I looked at him like he'd grown another head. And I plan on SAVING my car payments, so I'll at least have a nice down payment when it does go kablooey.
I've driven my share of $1000 rattle-traps. For the time, money, and AGGRAVATION in keeping them running smoothly - I'd much rather spend the $$$ on a newer and reliable car, and keep it up with proper maintenance. Lordy, I don't know what I'd "trade" for it though, but how I wish I had some hardcore MECHANICAL know how, like my brother or my cousin's hubby. The latter has kept a $500 Ford Escort running for years now. Though at the cost of a LOT of his time, sweat, blood, and probably money too...
Then AGAIN...
A big hunk of my debt was about $1K I had to spend on new struts and mounts - I guess all the gravel roads I have to navigate weren't kind to it. But the humdinger that could have RUINED me, if not for being under WARRANTY, was some odd engine troubles. Some really major work had to be done. But, at least there wasn't a penny out of my pocket for any of that (even the rental for two weeks).
Right, now I might have mentioned my earlier loans. Two big problems with those were that I didn't have enough in my 401K at the time to totally wipe out either debt. And what I did take, I didn't FOCUS on ONE debt, I spread it out. "Seemed like a good idea at the time!"
But no, now,
IF I do this thing, one or the other is getting NUKED.
So, I got some calls to make. Need to call the CC company about the possibility of a lower rate. Need to call the bank that financed my car loan to see what my actual amount owed is. I've always tried to pay at least a SMIDGE more than the minimum, but I think a few payments have gotten delayed in the mail, too...so late charges might have wiped out those gains..
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Anyway, the Lanterns
NEW plan, PD (post-debt):
-SAVE SAVE SAVE!
-If I can't pay cash (or write a check) for it - SAVE some more then come back when I CAN!
Ummm, and I probably need to work on the whole RESIST TEMPTATION thing, to avoid depleting the savings too much.
...you guys won't think TOO harshly of me if I pay cash for my
very first 1911, as a present to myself after I'm debt free and have at least a 3-month emergency fund in the bank, will you?