The Motley Fool Discussion Boards
Financial Planning / Wealth Creation Strategies
|Subject: Re: Poll: Which road?||Date: 3/5/2004 2:06 PM|
|Author: Zannikin||Number: 4 of 75|
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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