Ironworks Gaming Forum - View Single Post - What to do with the Money from the Tax cuts.

pritchke · 06-02-2003, 03:43 PM

I would pay of debt or save.

Although I would say that this is not the idea behind the tax cuts. The idea is to spend, buy stuff you don't need. By spending it may increase the economy and make good old W look good. I would put mine to pay off the last of my student loans. One month left and I will be done. If I paid of my loans at the rate given I would have paid over $100,000 but I have been paying them off ASAP, one month I put down $10,000 but I have mostly been putting $1000/mth. The only problem I have had to sacrifice the purchase of a house and car but I think the overall benefit is greater (and these things are more wants than needs). I have probably saved more than $40,000 by getting rid of it ASAP. I didn't do the swicth thing mainly because you have to really watch what is going on (may increase interest at a later time and not phone to tell you.)

Enjoy your tax cuts guys!!!

06-02-2003, 03:43 PM	#11
pritchke Bastet - Egyptian Cat Goddess Join Date: September 5, 2001 Location: Calgary, AB Age: 50 Posts: 3,491	I would pay of debt or save. Although I would say that this is not the idea behind the tax cuts. The idea is to spend, buy stuff you don't need. By spending it may increase the economy and make good old W look good. I would put mine to pay off the last of my student loans. One month left and I will be done. If I paid of my loans at the rate given I would have paid over $100,000 but I have been paying them off ASAP, one month I put down $10,000 but I have mostly been putting $1000/mth. The only problem I have had to sacrifice the purchase of a house and car but I think the overall benefit is greater (and these things are more wants than needs). I have probably saved more than $40,000 by getting rid of it ASAP. I didn't do the swicth thing mainly because you have to really watch what is going on (may increase interest at a later time and not phone to tell you.) Enjoy your tax cuts guys!!!