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  1. #1
    Super Moderator no1mad's Avatar
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    Came into some $$...

    Enough to do one of the following:

    -retire some of the student loans
    -pay off one of the vehicles
    -buy a car for the college bound teen (or more likely, another one for us and she "inherits" the car we already own)
    -put a dent in the consumer debt that has been racked up over the years
    -go stimulate the economy
    -travel to a foreign country

    Discuss
    Last edited by no1mad; 03-13-10 at 10:23 AM.
    Quote Originally Posted by Cyril View Post
    Ride what and in what manner pleases you. Those that mind don't matter, and those that matter don't mind. srsly.
    Community guidelines

  2. #2
    BF Risk Manager
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    Priority one: pay off the debt.
    Regards, MillCreek
    Snohomish County, Washington USA

  3. #3
    Peloton Dog patentcad's Avatar
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    Quote Originally Posted by MillCreek View Post
    Priority one: pay off the debt.
    Correct.

  4. #4
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    Quote Originally Posted by MillCreek View Post
    Priority one: pay off the debt.
    +1...

    And of course the one with the highest interest rate gets paid off first.

  5. #5
    Infinite Member ahsposo's Avatar
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    Did we win the lottery or the lawsuit? Or better - your mean old uncle that used to pinch your ear died and left you a fortune. None of my business but you started this.

    Congratulations. Nothing feels as good as getting out of debt. Except watching an enemy die of course.
    Quote Originally Posted by toddles View Post
    If I gotta look up words, it's not worth my time.

  6. #6
    Lost AngryScientist's Avatar
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    Quote Originally Posted by MillCreek View Post
    Priority one: buy a new bike
    fixed

  7. #7
    long time visiter Alfster's Avatar
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    Why are you putting such a low priority on your debt?

  8. #8
    Chepooka StupidlyBrave's Avatar
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    Here is my advice:

    1. Pay off debts
    2. Buy one expensive thing. Ideally, it would be something you would have needed to buy in the next few years anyway.
    3. Invest the rest in either something for future college expenses OR retirement. Also divert the moneys that were earmarked for debt reduction in this area.

  9. #9
    I ain't no newbie redirekib's Avatar
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    f the debt -

    71 Hemi Cuda
    "Never send a monkey to do a man's job." ~ Captain Leo Davidson ~

  10. #10
    Administrator CbadRider's Avatar
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    Quote Originally Posted by Alfster View Post
    Why are you putting such a low priority on your debt?
    Isn't retiring student loans and paying off one of the vehicles considered getting rid of debt?
    Quote Originally Posted by toddles View Post
    So Tom only hires people that are nutty? Is part of the requirement to be a moderator on this site is that you have to be nuts??
    Forum Guidelines *click here*

  11. #11
    K2ProFlex baby! ilikebikes's Avatar
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    Quote Originally Posted by no1mad View Post
    Enough to:

    -retire all of the student loans
    -pay off both of the vehicles
    -give one of the already paid off vehicles to the college bound teen
    -pay off the consumer debt that has been racked up over the years
    -travel to a foreign country if I have the extra cash left over
    -live debt free if I have sense enough not to get back in debt

    Discuss

    FIFY
    You see, their morals, their code...it's a bad joke, dropped at the first sign of trouble. They're only as good as the world allows them to be. I'll show you. When the chips are down, these...These "civilized" people...they'll eat each other. See, I'm not a monster. I'm just ahead of the curve

  12. #12
    beast mode bluevelo's Avatar
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    Since I have gotten a modest amount of money from my mother's estate, I've paid off my credit card debt and I've bought myself a couple of new toys - new semi-hollow body fusion guitar (in the avatar) and a new amp (Fender Hot Rod Deluxe, not in the avatar). I could pay off my car... but I may be trading it for a newer model (2010 Civic vs. the 2008 Civic I have now). Nothing wrong with the car, but I like having a newer car

  13. #13
    Super Moderator no1mad's Avatar
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    Had to edit the OP.

    To redirekib- Don't think I would have enough for the Cuda. And even if I did, the wife would rather have either a '65 Mustang or a Silver Anniversary 'Vette.
    Last edited by no1mad; 03-13-10 at 10:31 AM.
    Quote Originally Posted by Cyril View Post
    Ride what and in what manner pleases you. Those that mind don't matter, and those that matter don't mind. srsly.
    Community guidelines

  14. #14
    Senior Member
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    Pay down on debt.
    -------

    Some sort of pithy irrelevant one-liner should go here.

  15. #15
    You Know!? For Kids! jsharr's Avatar
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    pay off the debt with the highest associated cost.
    Are you a registered member? Why not? Click here to register. It's free and only takes 27 seconds! Help out the forums, abide by our community guidelines.
    Quote Originally Posted by colorider View Post
    Phobias are for irrational fears. Fear of junk ripping badgers is perfectly rational. Those things are nasty.

  16. #16
    You Know!? For Kids! jsharr's Avatar
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    aave a bit for a guilty pleasure. Nice diinner with the wife, something like that.
    Are you a registered member? Why not? Click here to register. It's free and only takes 27 seconds! Help out the forums, abide by our community guidelines.
    Quote Originally Posted by colorider View Post
    Phobias are for irrational fears. Fear of junk ripping badgers is perfectly rational. Those things are nasty.

  17. #17
    Senior Member
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    "no1mad" I'd be making plans for extended world travel.

  18. #18
    Chepooka StupidlyBrave's Avatar
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    I forgot to remind you not to invest in Crystal Meth.

  19. #19
    Senior Member
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    Take a small amount aside to enjoy, and start getting rid of the debt.

  20. #20
    long time visiter Alfster's Avatar
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    Quote Originally Posted by CbadRider View Post
    Isn't retiring student loans and paying off one of the vehicles considered getting rid of debt?
    Sure. But when someone has student loans, car loans and consumer debt, I would have thought paying off the loans would be a stronger priority, especially after the lessons learned from the economic downturn. Paying off debt may not give you the same instant gratification that a fun purchase or a trip will provide, however being debt-free is a very stress-free feeling which pays dividend for the long term. From most of the advice posted here, it looks like most people agree.

  21. #21
    Still can't climb
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    what a bunch of stiffs you all are!

    screw the debt. go buy a bicycle.
    coasting, few quotes are worthy of him, and of those, even fewer printable in a family forum......quote 3alarmer

    No @coasting, you should stay 100% as you are right now, don't change a thing....quote Heathpack

  22. #22
    Portland Fred banerjek's Avatar
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    Quote Originally Posted by coasting View Post
    screw the debt. go buy a bicycle.
    But if he pays off the debt, he'll save loads of cash. This means he'll have much more $$ for bike schwag later. Gotta keep the eye on the prize.

  23. #23
    Still can't climb
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    when you blow this money on a bike, make sure you spend every penny on the most outrageously expensive bike that takes up all this money.
    coasting, few quotes are worthy of him, and of those, even fewer printable in a family forum......quote 3alarmer

    No @coasting, you should stay 100% as you are right now, don't change a thing....quote Heathpack

  24. #24
    Senior Member
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    Quote Originally Posted by banerjek View Post
    But if he pays off the debt, he'll save loads of cash. This means he'll have much more $$ for bike schwag later. Gotta keep the eye on the prize.
    ^^Yep.

  25. #25
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    Pay off the student loans last; you get to take a tax deduction from the interest you pay. And obviously, pay off the consumer debt with the highest interest rate first.

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