Comments on: First Quarter Financial Review

By: Mrs Money

Mrs Money — Tue, 14 Apr 2009 23:01:12 +0000

Deirdre- My two loans are at 0% and if something happened that we lost our jobs we could defer payments. I am really glad you commented because this is an awesome point of view. Sometimes I wish I had the freedom of not being tied to a house, but other times I love the house, so it’s a catch 22. I’m sure things will work out well for you!

By: Deirdre

Deirdre — Fri, 10 Apr 2009 14:52:14 +0000

Interesting – I’ve made pretty much the opposite choice: under the theory that there’s a good chance we’ll experience hyper-inflation soon, and savings (and especially investments) will be pretty much worthless, I’ve been funnelling as much money as possible into my debt. I figure if necessary I can live off bartering, live with relatives, forage, etc., if I don’t have money coming in — the only thing that I ultimately *need* money for is to pay off debt, so I want to get that paid off as quickly as I can. And, except for one small credit card balance with a zero interest rate, there’s no interest I could make in savings–or profit in investments–that would match what I have to pay in interest on my various debts.

By: Mrs Money

Mrs Money — Mon, 06 Apr 2009 22:38:14 +0000

Miss M- I probably should go back to the 8%. I will meet with one of our financial advisers soon to make sure I’m in the right funds, etc. It’s all so confusing!

By: Miss M

Miss M — Mon, 06 Apr 2009 20:00:02 +0000

You know what I’m going to say, now is the wrong time to dial back your retirement savings. But I agree with your strategy to save up extra cash, I’m doing the same while keeping my 401k contrinbutions When I cashed out my 401k years ago I told myself I’d put the money back eventually, 7 years later and I still haven’t done it.