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Kopaka's Ice Engineering

Entry posted by Kopaka's Ice Engineering

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I don't know how it is at your/your parents' offices, but down here, it's the Christmas season. And that means gifts.

Not inter-person, but inter-company.

 

Oh sure, there's cards and all. But a week ago today, there were two large baskets filled with everything necessary for a spaghetti dinner (pasta, EVOO, marinara, real parmesan cheese, and a bottle of merlot), from Parson Sanderson, a company that sells sewer pumps. Unfortunately, there were only two, and my name wasn't on either of them. (Last year, they had extra things of jelly.)

Our MetLife representative sent a box of Louisiana citrus (navel oranges & kumquats) along with his card.

 

I know cards are customary, and I realize some times you want to "go the extra mile" to create and maintain a good relationship with companies you'd do business with. I also realize there's a line, and beyond that line is bribery, something that's in the news far too often in this state.

I consider myself fortunate to not be culpable for knowing where that line is for the next 8-10 years: I like being an underling, really.

 

 

In any case, I got my Christmas bonus today. It's more than a paycheck, so I've got some money to play with:

 

I need some sage advice as to what to do with about, oh, say $1,100.

  • Pay against car that was totalled in 2003: $3500 outstanding
  • Pay against student loan: $7500 outstanding
  • Pay against current car: ~$14,000 outstanding
No, sending a cut to you is not an option. :P

 

I'm leaning towards the current car, as the first one is a loan from my parents that I can drag out ad infinitum and the interest on student loans is tax-deductible.

 

 

-KIE

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Kopaka's Ice Engineering

My paycheck is net $1300ish twice a month, so more than a paycheck would be more than $1100 straight up. You didn't think I already budgeted some LEGO out?

 

And then, there's considerations for BrickFest next year.

 

Actually, the amount that got direct deposited today (payroll + bonus) is $3,625.92 :OMG:

 

-KIE

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Onuki
There is the Omicron Foundation. Even homies need to make a living.
That would partially explain how Omi doesn't have a job yet still has an income. :P

 

I'd choose between the current car and the student loan -- whichever goes farther back (I'm guessing the student loan).

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Spoony Bard

There is the Omicron Foundation. Even homies need to make a living.
That would partially explain how Omi doesn't have a job yet still has an income. :P

Yes my world is a living mystery. :P

 

-Omi

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munkeymunkey

I guess paying off the one with the highest interest rates first would make sense. Of course, as a emotional thing, I think that getting rid of the student loan first might feel better than the other two payments (you know, finally move on with your life... become removed from school).

 

Congrats on the bonus.

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Macku: Toa of Bubbles

Dave Ramsey, who wrote the greatest book ever on debt consolidation (in my husband's opinion), recommends attacking your lowest debt first, regardless of the interest rate. Knock out the $3500 and work your way up to the car.

 

He'd also advise that if you can't pay that $14,000 outstanding debt on your car off within the next eighteen months, you should get rid of it and buy yourself something you can afford to pay cash for. On the overall, if you can't afford to pay cash for something (with the exception of a house), you can't afford it.

 

~Toa Macku~

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