Roxy asked:


I have the exact amount in my savings to pay off my car 1 1/2 years early. Its about 5,500. A good amount saved up. My car payment is high, and it would be so helpful to pay off my car and have that extra money to continue to save and for emergencys and so money does not seem so tight. So do I pay my car off early and wipe out my savings, or do I just bare through the last 1 1/2years of living tight because of my car payment??? I would like to be as debt free as possible, so I feel if I pay off my car, that frees up a lot more money to help me pay off other things. Becauce that car payment makes it hard for me to pay off other things…I hope this makes sense and I hope I get lots of suggestions! Thanks for taking the time!!!

Wife4Life asked:


When I got the house, it had 20 years left to pay off. (It was a 30 year loan.) I have been paying extra money every month for 3 years. (That’s how long I have had it). Every extra penny goes to the house loan including extra savings in my bank every month.

In 3 years I have paid off $50,000 off of the principle and owe $33,000 (in principle) left on the loan.

I want to pay it off next year because I want to get pregnant with my first child and would like to be 100% debt free.

If I pay $2350 a month for 15 months I will pay it off next October. Do you think this is a good idea, or should I make the minimum payments instead? The minimum payments are about $600.00 a month. But then I will be paying interest on a house that could be paid off. The interest wouldn’t be worth the money it would save me in taxes.

Some people have told me not to pay it off, but isn’t it best to have no mortgage at all?

gigi2winters7 asked:


we just became engaged 4 mons ago.about 2 weeks after tom asked me to help pay off his debt.this dept is not from a medical emergency but from guilt.he cheated and left his wife and child for a old gf(not me)and when he did he gave his wife everything(bank accounts,stocks,car,house,ect)which along with a huge child support payment left him in debt.i know this sounds mean but i have worked hard for what i have and feel i should not have to pay for his “mistakes”.i know he thinks i’m selfish for not helping him but i feel he made these decisions that put him in debt.plus after 6yrs he still feels guilty for what he did(rightfully so) and his exwife uses that guilt to get what she wants.so if i pay off his debt i feel that will just free up more extra money he can give her.he already pays her child support/health/daycare cost.

Phyllis S asked:


I want to refinance and include my home equity loan and get extra money for a new car. What is the right option?