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Financial Planning / Wealth Creation Strategies


Subject:  Re: Poll: Which road? Date:  3/5/2004  2:06 PM
Author:  Zannikin Number:  4 of 83

I'd like a stud loan, please. How long do I get to keep him? :-D

I voted to use the $3,500 to pay down the Mort, car, and student loan, but that's not exactly how I feel.

I wouldn't personally consider a car loan to be "good" debt, but consumer debt. I would use the $3,500 to pay down the car loan, but it depends on the rate you're getting. If you've got a 0% or .9% loan, I'd keep it. Then maybe the student loan, depending on how low your interest rate is and whether you're able to deduct the student loan interest.

I would invest before paying down the mortgage unless you've got a pretty high mortgage interest rate.

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