- Joined
- May 14, 2002
- Posts
- 84,481
- Reaction score
- 33,229
As mentioned in the other thread I wound up with a much larger return this year as I overpaid all year assuming I'd sell stock I never sold. I figure to come out with about $3800 after I've paid off my baja trip. I figured I'd put that into my Australia/New Zealand trip fund but now I'm wondering.
I pay roughly 400 a month in carpayment, and the payoff is roughly 5800.
With the 3800 from tax return I can now afford to add that to my existing trip fund, payoff my carloan, and have about 700 left over.
Is it smarter to pay off the loan in full now and then use the extra money to replenish the trip fund(which is also an emergency fund I guess). or to put it in my trip fund and let it grow(part in mutual fund the rest will go into a money market fund)?
Part of me really wants to get out from under that carloan but I'm not clear if that's really the smart way to go?
I pay roughly 400 a month in carpayment, and the payoff is roughly 5800.
With the 3800 from tax return I can now afford to add that to my existing trip fund, payoff my carloan, and have about 700 left over.
Is it smarter to pay off the loan in full now and then use the extra money to replenish the trip fund(which is also an emergency fund I guess). or to put it in my trip fund and let it grow(part in mutual fund the rest will go into a money market fund)?
Part of me really wants to get out from under that carloan but I'm not clear if that's really the smart way to go?