Okay... it feels really strange to hear all this doom-and-gloom talk...

[wolfwings]

...but it's really driven home just how well I was trained growing up with my finances, to an extent I've only realized it's usefulness since this recent global economic collapse we seem to be experiences.

I never really appreciated it, or my intuition and dump luck/Karma helpnig out, until I look back at my timing for things. WaMu? Used to bank with them, bailed about 2 years ago when they jumped some mental shark for me and went from cool to a cyst on my ass. Floated more-or-less bankless briefly, then of all things ended up with US Bancorp. Which appears to have been one of the least impacted major national banking whatever-the-term-is.

But I'm being faced with an honestly wierd decision now, especially in light of the current economic situation. I may well be able to save over $1k/month into the bank, and I'm wondering if I should just sock that away, or start paying my car off as fast as possible first? (Already checked, no early repayment penalty.)

So, thoughts out there, folks?

Comments

[uplinktruck.livejournal.com]

Pay off the car. Dump all the credit you owe ASAP. Consumer credit is one of the biggest shafts the American public routinely gets. It is true that a car loan is no where near as predatory as some of the credit cards out there, but still it is nice to know your car is paid off.

Then you can take the payment money and start socking it away for your next set of wheels. Wouldn't it be cool to walk in and buy your next car with at half the money down? Or maybe just pay cash?