Tuesday, May 09, 2006

Where would you put an extra $500 a month?

If you have (or wish you did) an extra $500 in your budget, where would you put it? I have to say "wish" because we don't have an extra $500. If we did I would put it towards general savings until my emergency fund was fully funded. After that I would put it towards our mortgage. I feel having paid off mortgage is a good part of our retirement planning. We are saving for retirement (husband 11%, myself maxing out Roth) but probably could save more. So what would you do?



If you had a extra $500 in your budget each month would you
apply it toward your mortgage
retirement
college saving
general savings
spend it
  
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3 comments:

Us said...

Forgot one Credit card Debt, or other debt.

mapgirl said...

I don't have enough of an emergency right now so the 'extra $500' I'm putting away is from my credit cards. ~$500 every month to each one till I have enough saved.

Ashley said...

If I had an extra $500 a month I would put it towards the one credit card we have that has a balance or I would put it towards my Corvette Payment. I want to hurry up and get that baby paid off.