Quote:
Originally Posted by SeaHorse_Fanatic
Yup, pay off the student loan first, since that has the higher interest rate. Once that's gone, you can focus your $$ on paying off the mortgage. That's what I did (eliminate all debts & now only have mortgage to pay off).
BTW, my parents have the same attitude about when an inheritance should be given which is why our mortgage & mortgage payments are so low.
Anthony
|
My parents just figure they can help more NOW than later and also they want to see us happy and not renting forever. So they paid downpayments on places for my brothers and I. They named a number and we had to come up with what we could afford ontop of that kind of thing.
Its interesting because they wouldn't do it though until we were done school and during school I was renting. My monthly payments were more than my mortgage payments now and I didn't have a great job since I was in school full time. They paid my tuition for school but I had to pay the rest...books, equipment, cost of living, ect. So I have full student loans basically. I remember at the time knowing they were going to spend money on me to get me a place but used to be upset that they wouldn't pay my schooling even though they could. Now I look back and I am very glad I had to do that part on my own.
Funny the things your parents try to teach you
