I’m a big fan of paying our car insurance in full every 6 months. It saves us a lot of money and we’ve been transferring money automatically for quite some time now. We have an automatic transfer to ING for $2.00 every weekday that goes into a seperate sub-account for our car insurance.
It seems like our car insurance drops a little each time we renew it but I’ve continued the same amounts. That will be leaving me with an extra $82.00 once I pay our car insurance around October 10th. What to do with the extra money? That’s where you guys come in.
I thought it would be a fun idea to throw some options out there and let you vote for what you want me to do with it. It also will show your attitudes and priorities with money which is always interesting to see how they vary person to person. Here’s the options we have to work with:
Option #1 Evil Credit Card <—– Winner
Option#2 Savings
Option #3 Roth IRA
Option #4 Travel Fund
Option #5 Christmas
Think I should split it up? Something like options 1 and 3 is cool too. You guys get to decide, just leave your vote in the comments and then I’ll go with whichever has the most votes. The last day to vote will be October 7th, so get you vote on.
{ 26 comments… read them below or add one }
I think you should use it and enjoy a little bit and go see a movie and a dinner
That does sound pretty appealing. Thanks Aaron.
I dont see option 6? send it to me
lmfao. I knew you were gonna say that Jeff. haha. I knew while I was finishing up the SEO last night. That’s so funny.
I was going to say this. Jeff beat me to this…
I vote for #1. The faster you get rid of this, the happier you will be. And counting the interest, the $82 might actually mean more like $200.
Thanks for voting, Suba. Yeah, if I end using it to pay down the credit card it could be more valuable than just $82.
I agree with Suba. It would be nice to treat yourself too, but I think that seeing that bill go down might be a more lasting treat. Unless you’ve had a really bad week and need a nice dinner to fix it
Yep, paying down the credit card is probably the best choice and it will feel awesome. No bad week here, things really have to suck to give me a bad week.
Thanks for voting Kellen.
This is so cool. I haven’t ever seen a money blog that actually allows it’s visitors to decide what to do with their own money. I would like to vote for half of the money to go to option number 1 and the other half to go to option number 3. Thank you for the opportunity Jan.
Thanks Dianna. Yeah, I haven’t seen it yet either and that just made it seem like an even better idea. It’s not a ton of money and any of the options will still keep us on track. So half toward paying off the credit card and the other half to our Roth IRA. Thanks for taking the time to vote Dianna.
-Jen
My vote is for the credit card, the less interest you have to pay on that the better!
Yep, interest sucks. Thanks for voting, Shannon.
Pay down the credit card, most bang for the buck!
Looks like the credit card is in the lead. Thanks for votting Buck Inspire.
I vote Credit Card too.
Thanks for voting Bret @ Hope to Prosper.
It looks like you guys are gonna make me all responsible and such.
I have found that putting money in Savings makes me feel really good. Having said that, I say ” Crush Evil”
Finish the credit card.
Here’s another vote for the “Evil Credit Card”.
They just keep coming.
Thanks for voting Dana.
#1
Thanks for voting MAH.
Wow, this is so awesome! Thanks for caring enough about your followers to let us in on this.
Umm… I say 90% towards “The Evil Credit Card” and 10% on a treat for you. I understand that you’ll only get to spend $8.20 on yourself… but that could get you 2 $2.99 meals from McDonalds, a $5 movie from Wal-Mart, ice-cream, etc lol. Good luck!
Thanks Sylvia, it’s cool how you split it up.
Unfortunately, voting on this one ended yesterday but I’ve got a new one going at:
http://www.mastertheartofsaving.com/2011/10/08/tell-me-how-to-spend-my-money-2/
I still appreciate you taking the time to vote.