What would you pay first? Mortage or Student Loans? - Page 3

Snaz · #21 01-30-2009, 10:56 AM

If you can afford it pay your mortgage down weekly. This lets you pay it down faster and thus you save money overall.

areefdream · #22 01-30-2009, 02:09 PM

Just something to think about. I have no idea what your investments are but if you chose to leave them for a short while you could take advantage of two visa offers currently. Royal at 1.9 and scotia for 0.99 for an introductory 6 months. These ratesw are for balance transfers which essentially means that for .9 or 1.9% you can write yourself a cheque for whatever your limit is. As long as you pay it back before your 6 months period ends this is the lowest interest you will see. This is how I am going to help fund a house build while the builders mortgage kicks in.

christyf5 · #23 01-30-2009, 02:37 PM

Pay off the student loan, you don't want that thing hanging over your head forever. Mortgages are part of the 25 year plan anyways. Student loans aren't.

Pan · #24 01-30-2009, 08:16 PM

Quote:

Originally Posted by awa1979

I'd pay off the student loan if it has the highest interest rate.

(your debt makes me glad I went to school in California, low tuition with federal and state grants, made it possible to come out debt free.)

Who the heck goes willingly to The states....do your schooling in Europe...cheap and cultured

awa1979 · #25 01-30-2009, 09:02 PM

Quote:

Originally Posted by Pan

Who the heck goes willingly to The states....do your schooling in Europe...cheap and cultured

Thats where I am from...So thats where I went to school. I am a transplant in Canada, my wife didn't want to move...so I did.

Pan · #26 01-30-2009, 10:58 PM

Quote:

Originally Posted by awa1979

Thats where I am from...So thats where I went to school. I am a transplant in Canada, my wife didn't want to move...so I did.

see you were born there...thats hardly willingly

hillegom · #27 01-31-2009, 01:06 AM

Pay off the higher interest rate loan off first. You will save in the long term.
We used to pay off the credit card, every bill, with the line of credit or overdraft. This saved us money, as the LOC was 1/2 over prime and the card was 18%
I don't quite understand what that new 5000$ savings account is for. All you get out of it is non taxable interest. Well, the interest rate for savings is really low now. You could see more savings if you pay 5000 towards a high interest loan. Like you are paying 6% on the loan, however you only receive about 2% on your savings, if that.

GreenSpottedPuffer · #28 01-31-2009, 06:48 AM

Quote:

Originally Posted by Pan

Who the heck goes willingly to The states....do your schooling in Europe...cheap and cultured

I did. Not sure what you mean by this...

My family is from the states and I decided to finish High School down there and also start college there. I finished most of my college up here though.

Pan · #29 01-31-2009, 09:10 AM

Quote:

Originally Posted by GreenSpottedPuffer

I did. Not sure what you mean by this...

My family is from the states and I decided to finish High School down there and also start college there. I finished most of my college up here though.

nothing really...