Comments on: Save for emergencies, Save for retirement or pay down debt? Help! http://www.fabulouslybroke.com/2009/02/save-for-emergencies-save-for/ Just a Girl trying to find a balance between being a Shopaholic and a Saver Sun, 12 Feb 2012 21:24:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Pension Loan http://www.fabulouslybroke.com/2009/02/save-for-emergencies-save-for/comment-page-1/#comment-76084 Pension Loan Mon, 04 Jul 2011 12:09:00 +0000 http://www.fabulouslybroke.com/2009/02/16/save-for-emergencies-save-for-retirement-or-pay-down-debt-help/#comment-76084 PENSION LOANS – If you have a Pension valued over £20,000 then you qualify for a Pension loan, (it must be a Personal Pension or a frozen ex company Pension) The amount you can borrow will depend on which scheme you choose PENSION LOANS – If you have a Pension valued over £20,000 then you qualify for a Pension loan, (it must be a Personal Pension or a frozen ex company Pension) The amount you can borrow will depend on which scheme you choose

]]> By: graduatedlearning http://www.fabulouslybroke.com/2009/02/save-for-emergencies-save-for/comment-page-1/#comment-24902 graduatedlearning Tue, 24 Mar 2009 00:58:00 +0000 http://www.fabulouslybroke.com/2009/02/16/save-for-emergencies-save-for-retirement-or-pay-down-debt-help/#comment-24902 It's pretty good to have a lot of these things happening automatically...401(k)s are automated, IRAs can be as well, and money can be transferred into savings accounts pretty darn easily!<br/>The one tricky part for me right now is that I have to make a conscious decision to pay down my debt, since the way things are set up at the bank where my student loans are, it's automatically taking the minimum monthly payment out of my checking account. But I feel even more proud of my accomplishments when I throw an extra few hundred dollars at my student loans. It’s pretty good to have a lot of these things happening automatically…401(k)s are automated, IRAs can be as well, and money can be transferred into savings accounts pretty darn easily!
The one tricky part for me right now is that I have to make a conscious decision to pay down my debt, since the way things are set up at the bank where my student loans are, it’s automatically taking the minimum monthly payment out of my checking account. But I feel even more proud of my accomplishments when I throw an extra few hundred dollars at my student loans.

]]> By: Mary http://www.fabulouslybroke.com/2009/02/save-for-emergencies-save-for/comment-page-1/#comment-24018 Mary Tue, 17 Feb 2009 02:36:00 +0000 http://www.fabulouslybroke.com/2009/02/16/save-for-emergencies-save-for-retirement-or-pay-down-debt-help/#comment-24018 Excellent article. I'm really struggling with this myself. At 47, the issues you point out are exactly what I'm dealing with. What to do? I'm agressively paying down my debt but also saving and have to "re-decide" every month if this is the correct path. Now that I'm getting close to being debt-free except for my mortgage I'm pondering it again. It's a tough call and one which you're never quite done with! Excellent article. I’m really struggling with this myself. At 47, the issues you point out are exactly what I’m dealing with. What to do? I’m agressively paying down my debt but also saving and have to “re-decide” every month if this is the correct path. Now that I’m getting close to being debt-free except for my mortgage I’m pondering it again. It’s a tough call and one which you’re never quite done with!

]]> By: frugal zeitgeist http://www.fabulouslybroke.com/2009/02/save-for-emergencies-save-for/comment-page-1/#comment-24017 frugal zeitgeist Tue, 17 Feb 2009 01:45:00 +0000 http://www.fabulouslybroke.com/2009/02/16/save-for-emergencies-save-for-retirement-or-pay-down-debt-help/#comment-24017 Another outstanding post, FB. I tihnk many people forget what an important role choice has in how well (or how not well) they make it through hard times times. Another outstanding post, FB. I tihnk many people forget what an important role choice has in how well (or how not well) they make it through hard times times.

]]> By: Debt Dieter http://www.fabulouslybroke.com/2009/02/save-for-emergencies-save-for/comment-page-1/#comment-24010 Debt Dieter Mon, 16 Feb 2009 19:47:00 +0000 http://www.fabulouslybroke.com/2009/02/16/save-for-emergencies-save-for-retirement-or-pay-down-debt-help/#comment-24010 I do all 3 at the same time and also save for things I want, like a new car and travelling. I do all 3 at the same time and also save for things I want, like a new car and travelling.

]]> By: Revanche http://www.fabulouslybroke.com/2009/02/save-for-emergencies-save-for/comment-page-1/#comment-24006 Revanche Mon, 16 Feb 2009 19:19:00 +0000 http://www.fabulouslybroke.com/2009/02/16/save-for-emergencies-save-for-retirement-or-pay-down-debt-help/#comment-24006 I really like that there's someone else out there in the world who feels the same way I do about saving money focus: nothing gets in the way! No fun money until goal is accomplished!!! <br/><br/>Still, I'm trying to be understanding for friends who want me to be supportive of their frivolous purchases when they're looking at getting into huge school debt, but I just can't. I can refrain from being judgmental but I can't give them moral support because I believe in accomplishing the bigger goals. I really like that there’s someone else out there in the world who feels the same way I do about saving money focus: nothing gets in the way! No fun money until goal is accomplished!!!

Still, I’m trying to be understanding for friends who want me to be supportive of their frivolous purchases when they’re looking at getting into huge school debt, but I just can’t. I can refrain from being judgmental but I can’t give them moral support because I believe in accomplishing the bigger goals.

]]> By: Miss M http://www.fabulouslybroke.com/2009/02/save-for-emergencies-save-for/comment-page-1/#comment-24000 Miss M Mon, 16 Feb 2009 14:20:00 +0000 http://www.fabulouslybroke.com/2009/02/16/save-for-emergencies-save-for-retirement-or-pay-down-debt-help/#comment-24000 I took a different path, I saved and paid down debt in equal measure. It worked for me, I got in the habit of saving early. Eventually my love of saving was enough to pull me out of debt. <br/><br/>Around here truck drivers don't make that much, most are independent now and must bid against one another for jobs. With the price of diesel being so high they barely turn a profit. There was a news expose because many of these guys can't afford to repair their trucks and it's a danger to the rest of us. I took a different path, I saved and paid down debt in equal measure. It worked for me, I got in the habit of saving early. Eventually my love of saving was enough to pull me out of debt.

Around here truck drivers don’t make that much, most are independent now and must bid against one another for jobs. With the price of diesel being so high they barely turn a profit. There was a news expose because many of these guys can’t afford to repair their trucks and it’s a danger to the rest of us.

]]> By: Kali http://www.fabulouslybroke.com/2009/02/save-for-emergencies-save-for/comment-page-1/#comment-23999 Kali Mon, 16 Feb 2009 14:17:00 +0000 http://www.fabulouslybroke.com/2009/02/16/save-for-emergencies-save-for-retirement-or-pay-down-debt-help/#comment-23999 Aside from just getting a better job, you can make more money getting a weekend part-time job, or buliding a small business, or doing handy work... Hell, I read porn over to make sure it doesn't contain incest or pedophilia to earn a couple of hundred bucks a month. I totally agree that where there is a will, there is a way to bring in more income.<br/><br/>I will also say that Dave Ramsey's itty-bitty emergency funds scares the crap out of me. I don't know whether I tend to have gigantic emergencies or what, but that wouldn't cover 1/4 of the stupid crap that has gone wrong this year.<br/><br/>- Frugal Urbanite Aside from just getting a better job, you can make more money getting a weekend part-time job, or buliding a small business, or doing handy work… Hell, I read porn over to make sure it doesn’t contain incest or pedophilia to earn a couple of hundred bucks a month. I totally agree that where there is a will, there is a way to bring in more income.

I will also say that Dave Ramsey’s itty-bitty emergency funds scares the crap out of me. I don’t know whether I tend to have gigantic emergencies or what, but that wouldn’t cover 1/4 of the stupid crap that has gone wrong this year.

- Frugal Urbanite

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