Comments on: How Should I Spend My Money?

By: mbhunter

mbhunter — Wed, 23 Dec 2009 04:39:25 +0000

After I saw your edit over at CashCommons.com I was a little confused, but this post puts it in context.

A small percentage for a fun budget seems pretty reasonable. I didn’t do a whole lot of traveling when I was younger so doing that now is a fine idea. Travel deals for young adults aren’t bad.

You’re only young once, and this seems like a very responsible way to go.

By: Dr Dean

Dr Dean — Tue, 22 Dec 2009 13:15:25 +0000

Great discussion, and the important thing is not the minor details of your decision, but the fact that you have thought this through carefully. That you realized there are others out their, who may have wisdom from their own battles, that can help you.

Congrats!!

By: Daniel

Daniel — Tue, 22 Dec 2009 12:52:57 +0000

Thanks! I think it’s important to remember that with 6 billion people in the world, there’s bound to be a few people who have gone through whatever you’re going through and you can learn from their experiences.

By: Ken

Ken — Tue, 22 Dec 2009 12:16:44 +0000

I would call the student loan company and ask if there are any prepayment penalties. There probably isn’t. Go ahead and mail an extra payment to them each month and write “principle only” at the bottom. This money will directly dropo the principle on the loan, not the interest..which is good. Thanks for asking for advice…a sign of wisdom. I agree with saving for an emergency fund as well.

By: Daniel

Daniel — Tue, 22 Dec 2009 12:02:01 +0000

Yah, there are no penalties for making extra payments. Once I build up a little more of an emergency fund, I’ll start making larger payments toward the student debt. Until then, I’m bsaically using these resources to fund the emergency fund.

So my priorities, in order:
1. Emergency Fund
2. Student Loans
3.Investing