528hz
10+ year member
Everything'sMiscellaneous
Numismatic Gold coins. As much and often as you can.
528hz
pix of wife?
x2.
If this will be a series of cash flows, I'd reduce what I am paying on my mortgage or any other installment loans, provided they do not charge for prepayments.
If this is a one time sum, I'd chose a 3mos CD, provided you do not have any interest charging debt, or non-interest charging debt without a matching cash flow.
Well first I would take all the material things things I could buy and plug them into an excel spreadsheet with an assigned value based on how happy the item would make me. then I would plug the interest of the savings account in the worksheet, along with all other investments and their interests. Last thing to add is how much saved on paying down credit and plugging in their respective interest costs. then I would graph all this information for comparison.
After all that is done, I would ask my wife what she did with the extra money.
After all that is done, I would ask my wife what she did with the extra money.
speedfreak28
10+ year member
CarAudio.com Veteran
I have heard that there are tons of empty houses out there at the moment, maybe look inot a forclosed property and find a good deal, In the meantime Id put the money in a CD of some sort, If you are serious about getting a house eventually its a good idea to have a cushion.
LOL
LMAO
FoxPro5
5,000+ posts
Causal wanderer
Your freezer.
Mine is worth about $10k at the moment (excluding food, of course).
Mine is worth about $10k at the moment (excluding food, of course).
FoxPro5
5,000+ posts
Causal wanderer
Not a bad idea. But have you ever been in the foreclosed homes on the market? //content.invisioncic.com/y282845/emoticons/eek.gif.771b7a90cf45cabdc554ff1121c21c4a.gif They're usually run to the ground and left for the roaches, unfortunately.
Then you are in a bad area. All the foreclosed homes in my neighborhood are less than 4 years old and in great condition. The largest available home(bi level) is the same price that I paid for mine 3 years ago.
OP
Loud3
10+ year member
OG
- Thread Starter
- #29
We are looking in the $150-200K range, and I already have 18% in savings.
Foreclosures are out of this world out here, but banks are not dealing. They expect to be able to get people to enter into bidding wars over property, and I'm just not willing to pay $200+ for a foreclosure in the shape that I have seen some of these houses in.
I will say that the desert is much better than Clearwater was... $200K doesn't buy you a pot to piss in in Clearwater.
I think the housing market in CA and NV, especially, will continue to fall. There are a lot of attempts at short sales in Vegas, but I don't know if they're having much success moving them. Look on RedFin at places that you might be interested in; take a look at the month-over-month median housing prices and that will give you a bit of an idea as to whether you want to buy one now or not.
Either way, $1200 is nowhere near enough to consider actually buying a house. Go with a short-term investment with guaranteed principal and interest, and keep re-investing while adding whatever you can afford from your monthly budget. Once the market becomes a bit more predictable, you can look at higher risk investments that might match your profile a bit better at that point. After a few years, you'll have the money you need for a nice down payment on a home...it is very important to have a good down payment because that equity is important in unstable markets.
So in short, my answer is stay in a financial mood all the time. //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif
And make sure you're also doing some scheduled or regular contributions, in addition to whatever you do with this money.
Either way, $1200 is nowhere near enough to consider actually buying a house. Go with a short-term investment with guaranteed principal and interest, and keep re-investing while adding whatever you can afford from your monthly budget. Once the market becomes a bit more predictable, you can look at higher risk investments that might match your profile a bit better at that point. After a few years, you'll have the money you need for a nice down payment on a home...it is very important to have a good down payment because that equity is important in unstable markets.
So in short, my answer is stay in a financial mood all the time. //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif
And make sure you're also doing some scheduled or regular contributions, in addition to whatever you do with this money.
Activity
No one is currently typing a reply...
About this thread
