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what would you do if this was your decision..........

Within the next few weeks I am expecting to get a grant check from my school for $2500. I am trying to decide what to do with it and have boiled it down to two choices: pay off my credit card or buy a laptop for school. This is the last year I will get this particular grant and I could buy a laptop now and increase my studennt loan next semester to pay off the deliquent credit card and my husband's deliquent student loan with that. The student loan wouldn't be due until after I graduate with no interest. On the other hand if I pay off the credit card with this check I could pay off both student loans with the same check next semester we will be debt free. What would you due?

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Anonymous

Asked by Anonymous at 9:14 PM on Sep. 30, 2009 in About CafeMom

Answers (8)
  • Be debt-free!!!
    raybird1031

    Answer by raybird1031 at 9:16 PM on Sep. 30, 2009

  • I would pay off any debt. You never know what could happen in life.. and you always feel sooooo much better paying off any kind of debt. It's like a weight lifted off you shoulders, especially if you already have some kind of computer that works for school. You can always upgrade later.
    ashjacks4

    Answer by ashjacks4 at 9:16 PM on Sep. 30, 2009

  • I'd want to pay off the loans so I wouldn't be in debt. Especially if I already had a computer, and a laptop was a luxury, not a necessity. If it is a necessity, then I'd do the opposite.
    Bmat

    Answer by Bmat at 9:17 PM on Sep. 30, 2009

  • do you have a desk top or something? If you do I wouldn't buy a laptop. If you are doing school on Campus then I would just go into school or go to the library and use the computer to do your homework. You don't want to mess up ur credit long term by not paying on it. Also the way the economy is I would pay them off too. I'm sure you are managing ok without the laptop now, so I would seriously think twice b4 buying the computer. GL!=)
    abootie

    Answer by abootie at 9:19 PM on Sep. 30, 2009

  • paying off debt always works better for you in the long run. then start saving some of the money you would normally pay on the credit card and buy a cheap or maybe even used laptop. you can put the money in the bank and make a tiny bit of intrest off it instead of paying more intrest to the credit card company.
    bettylou420

    Answer by bettylou420 at 9:22 PM on Sep. 30, 2009

  • I would hold onto about $500 for a laptop and use the rest to pay down debt. If you hold out a bit, there will be crazy Christmas sales and you will be able to get a decent laptop for that money. And you will feel good for taking a big chunk out of the debt. BTW, you can try to call the company, they might be willing to offer you a settlement for less and then you won;t have to pay as much.
    chillemi78

    Answer by chillemi78 at 9:22 PM on Sep. 30, 2009

  • debt free, you can always get a good deal on a laptop
    looovemybabies

    Answer by looovemybabies at 9:29 PM on Sep. 30, 2009

  • Pay the debt; it will cost you less in the long run
    rkoloms

    Answer by rkoloms at 11:15 AM on Oct. 1, 2009

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