Money Matters
HouseOfGreen
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
What to do with 5,000 dollars!
I have 6,000 in savings right now. This is what I want to do:
1,000 for Christmas budget (3 kids) they are still young so I can make this work
5,000 on our car which will put us at owing only 1,000 on the car
OR! Putting the whole 6,000 on the car leaving us with only having a mortgage payment.
Now before everyone freak out my husband and I will both be getting 5,000 a month from now until July (VA benefits) that is why I feel like we should just pay off the car now and on the first of December we will have a savings of 5,000.
Re: What to do with 5,000 dollars!
TTC since 1/13 DX:PCOS 5/13 (long, anovulatory cycles)
Clomid 50mg 9/13 = BFP! EDD 6/7/14 M/C 5w6d Found 11/4/13
1/14 PCOS / Gluten Free Diet to hopefully regulate my system.
Chemical Pregnancy 03/14
Surprise BFP 6/14, Beta #1: 126 Beta #2: 340 Stick baby, stick! EDD 2/17/15
Riley Elaine born 2/16/15
TTC 2.0 6/15
Chemical Pregnancy 9/15
Chemical Pregnancy 6/16
BFP 9/16 EDD 6/3/17
Beta #1: 145 Beta #2: 376 Beta #3: 2,225 Beta #4: 4,548
www.5yearstonever.blogspot.com
I would advise to keep the $6k in your savings, and apply next months' $5k toward the car debt. According to my calculations you will be receiving about $40k over the next 8 months from VA benefits. So I would apply the first $6k to pay off the car, then the rest to get to a 6 months E-fund (including your $6k already in savings).
If there's any money remaining after that, then I would put it into a savings account for the next car or something that may need replaced in the future.
TTC since 1/13 DX:PCOS 5/13 (long, anovulatory cycles)
Clomid 50mg 9/13 = BFP! EDD 6/7/14 M/C 5w6d Found 11/4/13
1/14 PCOS / Gluten Free Diet to hopefully regulate my system.
Chemical Pregnancy 03/14
Surprise BFP 6/14, Beta #1: 126 Beta #2: 340 Stick baby, stick! EDD 2/17/15
Riley Elaine born 2/16/15
TTC 2.0 6/15
Chemical Pregnancy 9/15
Chemical Pregnancy 6/16
BFP 9/16 EDD 6/3/17
Beta #1: 145 Beta #2: 376 Beta #3: 2,225 Beta #4: 4,548
www.5yearstonever.blogspot.com
I would keep the 6k in the bank then use the next few months of VA benefits to pay off your debts and save for rainy days.