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Xelindrya
Mommy's little YouTube Star!
Member since 8/05 14470 total posts
Name:
Veronica
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WWYD : Spend the money on bills or daycare?
I got my house rebate money. I have paid off some loans I took out in anticipation of that money. I am paying off my medical bills and small (under 300) store cards that I dont even use anymore.
I paid off a lot of debt to get where I am today but I still have plenty more to work down.
So, if you had the money right now...
Would you pay daycare for the next three months? Saving you nearly $800 a month pay on bills etc
Then in January (which is included in this amount) you would file for the Dependent Flexible spending and be ahead $203 for February's tuition.
Or, pay off only before and after care for the full year $1200 and save myself $150 a month from now until Next June.
Or lastly just stay the same with daycare and pay off more bills I have? Which overall will not equate to the same monthly savings but long term save me more (if that makes sense).
ETA: (not that it matters but..) I have already put one month of mortgage aside, just in case, plus a little less than $1000 for us to spend on our vacation in Hawaii in Dec.
Message edited 10/11/2010 1:34:52 PM.
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Posted 10/11/10 1:32 PM  |
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CrankyPants
I'm cranky
Member since 7/06 18178 total posts
Name:
Mama Cranky
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Re: WWYD : Spend the money on bills or daycare?
Pay off bills.
If I paid day care ahead, I would get out of the habit of budgeting for it so in June (or whenever you start paying again) it would hit hard.
Also, I don't know if I am disciplined enough to take the "extra" money every month and pay that towards those bills.
So, I would just ensure I get ahead and pay the bills with the extra money.
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| Posted 10/11/10 1:48 PM |
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CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Re: WWYD : Spend the money on bills or daycare?
Pay off the bills, esp if they have high interest rates. You don't pay interest on the cost of daycare (i'm assuming), so paying in advance isn't worth it IMO.
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| Posted 10/11/10 1:49 PM |
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saraH
happy birthday sweet kate!
Member since 5/05 16555 total posts
Name:
I know that God exsists, I held her in my arms...
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Re: WWYD : Spend the money on bills or daycare?
Bills.
For the same reasons the other PP's mentinoed.
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| Posted 10/11/10 1:56 PM |
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sj-girl
Happy Family of 4
Member since 5/08 5654 total posts
Name:
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Re: WWYD : Spend the money on bills or daycare?
Pay off bills, since your paying interest on the the balance you owe them.
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| Posted 10/11/10 1:56 PM |
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LoriH
There's no place like home
Member since 8/07 4110 total posts
Name:
Lori
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Re: WWYD : Spend the money on bills or daycare?
I would pay off any debt that you are paying interest on. If their are a few, I would pay the one with the highest interst. If you are not paying interest on the debt, I would save the money and accrue interest on it.
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| Posted 10/11/10 1:58 PM |
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Re: WWYD : Spend the money on bills or daycare?
I would pay off bills starting at the highest interest rate. That will save you the most money in the long run.
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| Posted 10/11/10 2:06 PM |
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eddiesmommy
best buds!
Member since 5/09 11524 total posts
Name:
Melissa
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Re: WWYD : Spend the money on bills or daycare?
bills since you pay interest on those, hands down bills.
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| Posted 10/11/10 2:07 PM |
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Xelindrya
Mommy's little YouTube Star!
Member since 8/05 14470 total posts
Name:
Veronica
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Re: WWYD : Spend the money on bills or daycare?
I was leaning that way.. thanks !!!
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| Posted 10/11/10 2:27 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: WWYD : Spend the money on bills or daycare?
bills
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| Posted 10/11/10 2:29 PM |
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Re: WWYD : Spend the money on bills or daycare?
Pay off the bills. It will be better for you in the long run when you are not paying the interest rates.
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| Posted 10/11/10 2:29 PM |
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