Applied for a personal loan a moment ago...

Sherardp

66chevyIISS wrote: »

When ever I get a raise, I try to raise my 401k contribution close to the same amount or put the difference into savings/bonds. There is a reason why people who make $200,000 can have just as much trouble/debt as people who make 30,000. People tend to spend what they make.

I do the same, put more towards the future. As for more people with larger salaries, Im sure they do tend to spend more. I wouldnt know, I dont make that much, I would say I do well though. I guess it all comes down to being smart with your money. Invest, let your money work for you, and still be able to buy the things we enjoy. As for what I mentioned earlier, I just know what works for me, I budget everything, to the smallest amount. All Im saying is if you dont put anything away, you'll never have anything. You work hard for your money, the least you could do is give yourself some of it. Happy savings to all.

dane_peterson

Good thoughts everyone.

I'm thinking I might go for the EPOS ELS3s. Sounds like a pretty good bang-for-the-buck, and might be able to run all 5 channels off the Denon. That'll free up some solid funds for debts, and will still have a respectable system.

wallstreet

You've already got a respectable system. Enjoy it.

ivansfo

I agree with wallstreet. Just enjoy what you have now and forget about all future upgrades until you build up some disposable income. If you are not financially hurting at the moment, I wouldn't go so far as selling off your LSI speakers to pay off debt. Your heart will ache when you listen to your EPOS and wish you still had the LSIs.

Like others have said, only borrow for assets which appreciate in value. Audio gear and even cars do not appreciate in value.

dane_peterson

It's a little late to back out on selling the equipment, unless I just decide to get a different amp. :P

Honestly, I don't know if I'll be extremely disappointed by the EPOS anyway, considering my listening levels.

66chevyIISS

yeah, I was in no way saying you should sell your stuff!! you already have it, no need to ditch it.

daboyz

Save up a little and get the house, the best single investment someone can make. There are many plans out there to help you, find a good lender and explore them all and do what's best for you. The quicker you can get into a house the better, just remember "location,location,location".
Put whatever extra money you can into your employers 401k program especially if they match, the second best thing you can do. Both will help you with your taxes.
Also, make sure you are coming as close to breaking even on your tax returns as possible. It's better to pay in a little if you have to. Show me someone who is all giddy that they got back $2500 on their return and I'll show you someone who gave the gov't. a free $2500 loan.
By the way, I'm cuarenta.(old ****)

ChrisDurano

Read "Financial Peace"

http://www.daveramsey.com/

shack

ChrisDurano wrote: »

Read "Financial Peace"

http://www.daveramsey.com/

Dave Ramsey's advice is good for the financially uniformed who can't handle money. His approach is too simplistic for many. For the average consumer his advice can be helpful. But the few time's I've listened to his show I want to throw something at him whenever he gets beyond the basic too much consumer debt issues. Debt is a finanical tool that when used right can be the key to wealth. Some of his advice is just BAD!