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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: 03/19/13 update Date:  3/20/2013  3:59 PM
Author:  aj485 Number:  306852 of 312189

CDs at Sunwest $26,880.63
CD at Nationwide Bank $510.00
Brokerage Balance at Schwab: $28,959.10

So you have over $56k in potentially liquid savings and investments.

Car Loan : $12079.20 APR 2.49% min pmt $111.48 every two weeks
Secure Cd Loan $317.63 APR 2.30% min pmt $49.21 every two weeks
Secure Cd Loan $975.00 APR 3.55% min pmt $38.22 every two weeks

So you have $13k in debt that you have voluntarily taken on to fund your savings and investments (using these loans as a margin account) and so you don't have to give money to your parents. And this voluntary debt requires about $430/month ($198 every 2 weeks) in payments.

I Declined offer from Chase Mortgage for condo loan for $28,000 because I didn't think afford the HOA and utilities and move out of mom and dad's house( I was approved for this loan)

So you have chosen not to purchase a condo because you are concerned about the monthly utility, HOA costs and a PIT loan payment of about $160/month (assuming a 30 year mortgage at 4%, property taxes at $325/year and insurance being covered in the HOA fee)? How much are the utility and HOA costs per month? Unless they are more than $270/month, you would have had no impact to your cash flow if you had chosen to pay off your voluntary debt. As an added bonus, you would have more control over your financial life than you seemed to indicate you had in this post:

It's all about the choices you make. You seem to be choosing to live on terms that you feel are imposed on you by Mom & Dad, rather than moving out and living on your own terms.

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