Thursday, October 20, 2011

Where to put the money...

Senario #1
$ 3,300.00
Trip - $1,200.00

$2,100.00
LOC - $2000.00
$100.00 towards Xmas

Pros- LOC closed for good. I have a hard time not tapping into it when I need a little extra. If I pay it off and close it, I’ll have another 160/month to put towards other debt. I’m working to reduce my temptations.


Cons – I only have a little bit in my Emergency fund.

#2

$ 3,300.00

Trip - $1,200.00

$2,100.00

Xmas $1000.00

$1,100.00

DD $500.00

Save $600.00 ( in mini emergency account)

Pros - mini emergency fund

DD can be paid out of my pay cheque.

CON LOC still opened... Tempetation...


#3
$ 3,300.00

Trip - $1,200.00

$2,100.00

DD $500.00

RRSP $ 1500.00

$100.00 towards Xmas

DD can be paid out of my pay cheque.

RRSP can help reduce my taxes by a little.

CON LOC still opened... Tempetation...

1 comment:

Out My window said...

All are good alternatives. But I know what you mean about temptation. I am the worst. If it is open I use it. No self control. You need an emergency fund more than any thing. mine saves my butt all the time!

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Who am I said Sam? I am.... a mother, a daughter, a dog owner, a PF