Congrats! Now take that payment you were making every month, invest it, and you will have yourself a nice little savings account.
Grats on the miletone! Don't forget, the rule of 72. Put extra monies into CDs for longterm safe investment, around 2-3.5% APY, or better if you got the hookups.
Online Money Market with GMAC can yield you over 4% annually, no hookups necessary, just credit. Just thought I would share, Perhaps not as safe as an insured CD, but still a pretty safe investment, and keeps your money liquid in case you need it in an emergency.
congrats.. invest invest invest.... the people who say buy more cars and mods are usually teh same ones who will whine about having NO money or house etc....
hsbc online savings ftw!!!! they were at %6 for a while i think its down to 4 tho. sign up its worth it edit: its %3.05... damn economy
we have earned a constant 3.5-4% on our investments this whole year.. economy shnomony.... we used to lose money or at least make maybe under $5G /yr before with another firm, we switched to a new place that usually doesnt deal with people with under $500K to invest... they took us cause we also had 1.7M invested in our business, owned a house etc.... they have constantly made us over $10-$15G per year I believe... and even this last term has netted us almost 3.75%.. thats about all I know form our convo with the rep the other day at lunch.. me I just want to know I have some money after the house to blow on mods...
blow the payment for a month or two, and then pretend you still have it put it on other debt, save for an emergency fund, save for a house down payment etc.
Take the money you are saving and put it into your house payment (if you have one) you'll thank yourself
