June 2008 Weddings
Dear Community,
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.
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.
Poll: Speaking of nest normal
What "Nest Normal" stuff do you just not "get"? What "Nest Normal" stuff seems weird, wasteful, counterintuitive, etc. to you?
Re: Poll: Speaking of nest normal
I don't understand the NEED to pay cash for big purchases (house, car) when interest rates are at historic lows and it would do you some good to keep liquid savings socked away in this economy.
I don't understand why everyone needs a blog documenting the progress they're making on their home. Yeah, they're cool to read when major renovations are being done. But I'm pretty sure nobody cares if I put up blue curtains to replace the red ones.
Oh, the other thing. I don't understand being a meanie and a smarta$$ on the internet when someone asks a simple question. Yes, maybe they should lurk first and get a "feel" for the board, but not everybody knows to do that. I see this on H&F and MM quite a bit.
A lot of people follow the Dave Ramsey mentality on paying cash for large purchases. I guess I could see someone eliminating lines of credit in all forms from their life if they feel they can't manage it or just don't want that responsibility.
We don't follow this thinking religiously. We weigh the pros and cons. By that I mean if the interest rate on the loan is less than the interest rate we're making on our money in the bank - we'll take the loan. If it's not and we are able to comfortably pay cash for it - we will. A house, though? I don't think I'll ever pay cash for a house unless I get some amazing equity out of the previous house.
Currently the saving/high interest checking interest rates are getting to a point where they are going to make us pay off DH's student loan. His loan rate is like 1% and we're hovering at a bank interest rate of 1.25%... We could pay it off now because there's not a ton left to it, but why pay it when we're making money on our money? Ya know?
There are a lot of things on the internetz that I just don't get though. A lot.
How in the world did MrBreaux get a student loan interest rate of 1%?! I'm seriously trying to convince DH to use a home equity loan to pay off my student loans b/c the home equity would be SO much less interest....
Noooo kidding!!! Mine are at 6.8%. It makes me want to cry!
My DH was a big 'use cash' person but he's "reformed". Like pps stated he liked that you saved, and bought and that was it. He doesn't like having something to have to pay and consider every month.
However, I talked him into buying both our new cars at 0% APR and take loans because.......it's free money, people. My money is instead invested and working for us and the car is paid for out of our monthly earnings, not from savings.
I can totally understand people with very fluctuating earnings using cash - - they may not have the flow month to month to handle a recurring payments.
I know - tell me about it. When he graduated in 2004 he consolidated all of his loans (per my parents pushing him to do so - he won't admit that though). It was a pretty low rate when he consolidated. Then you got like 1/2% off for automatic draft, 1/2% off for making so many payments on time, and then like 1% off for having so many more payments on time (almost like 2-3 years on time? - but with automatic draft, how could it NOT be on time, KWIM?).
And to top it off, if you made a copy of your diploma and mailed it to them - they'll pay your last $500 of your loan.
It's pretty sweet. If it were 6.8% we would have paid that bad boy off a while ago (or taken a home equity loan maybe depending on the situation).
Yeah, I know
No property to speak of to take out a loan against. Unless of course some bank, somewhere wants to loan us about 45k with a Ford Fusion and Chevy Cobalt with about 90k miles each as collateral, hehehe.
I eat this crap up. I admit it.
Way back when I graduated law school - this was the thing to do because the home equity rates were so low and the interest was deductible. But our financial aid people advised against it. There are certain advantages with student loans that you don't have with home loans - forebearance in case of losing your job or going back to school plus if you die the loan dies with you. Whereas with a home loan, the other spouse would still be liable and there are fewer options for forbearance. It's harder now to get home equity loans/lines of credit, but make sure to weigh all of the pros/cons if anyone decides to go this route.
Mine was like this, but I think I got a 2% drop with 3 years of on-time payments. My interest rate just went down again. I'm now at 0.11%. A-freakin-mazing! There is NO way I'm paying that sucker off early - especially since an interest rate that low doesn't help me on my taxes. I remember when I first started paying it off the interest rate was around 5.5%. I'm totally loving this!
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