Localfund.com - All about Fund and Investment
*Home>>>Invest Money

Which should I do with found/saved money - invest or payoff student loans?


Which should I do with found/saved money - invest or payoff student loans?

Unless your investment will yield a higher rate of return than your student loans, pay off your student loans or other loans you may have, paying off the highest interest ones first.

Remember that when you start paying on your student loans you are also paying interest. The stock market has been very rocky lately, so its possible you could lose money on it. You would have to make investments that regularly pay a higher rate of return than the interest you pay on your loans in order for it to be profitable.

Pay off any credit card debt first. Most school loans are very low interest and unless you are going to make a higher percentage by investing it you might as well just carry them. School loans help your credit rating by giving you a stable payment history.

Pay off student loans and invest your money over time...get the debt out of the way

Spend it if you found it, have a good time!

Pay off your highest interest debt. Or if you can invest in something that will give you higher interest than your student loans are charging you. Then what you do is pay off your student loans with that money after it has accrued enough interest..

pay off student loans

If this was me I would pay off any other debt that I have such as credit cards because student loans tend to have a very low interest rate. If you don't have any debt other than student loans I would do half and half. It won't be as much fun for you to get rid of the money all at once, you should enjoy some of it!

I agree with holding on paying off student loans that have low interest. Also, that when you have debt and savings that counter productive.
To build your credit and pay down debt, you should pay down the highest interest loan/credit card. Then apply that payment and add it to another. But you are talking about paying it off with a lump sum. So, I suggest to pay off something that will add money to your pocket monthly. Figure out what monthly payment , for example, paying off a $600 car payoff could save you the monthly bill of $171.00.
This would increase your credit score, allowing you the opportunity to get other loans at a low intrest rate.

payoff your student loans

Tags
  Investment Calculator   Investment Bank   Investment Advice   Investment Account   Invest Money   Invest in Gold   Invest Fund   Income Fund
Related information
  • How should a person with not much money invest on green/eco friendly related industries?

    Green/Environmentally friendly investing is a subset of an investment philosophy called Socially Responsible Investing (SRI), which is a form of investing based on ethical considerations. A com...

  • If a person had the cash to pay off their personal house loan should they pay it off or invest the money?

    It depends on one's situation. How much is outstanding, what you can get on investment return, what % interest your paying, amount of interest claimed on taxes. Lots to consider.

    ...
  • What's the smartest way to make money/ invest if you have over $10,000 saved?

    Give it to me I'll take care of it!!

    ...
  • Money Laundering - In what ways would a drug dealer invest dirty money? (uk)?

    in more drugs? have you tried off shore accounts or you could go with the classic fake business, I suggest you go with day spa. you can charge high prices while not accounting for your clients....

  • I wanna invest my money in money plus scheme in LIC.I want all information about it.Plz?

    Study the LIC policy carefully.And compare the other insurance companies perfomence also.don't fully believe agents.if that policy is linked to share market,You should try to study something t...

  • Best way to invest/make money?

    1. If you have any debt that has an interest rate over 10%, pay off that debt before you begin investing. The reason for that is that a balanced portfolio of stocks and bonds will generate 10% re...

  • How do i invest my money to make more money then i invested?

    Just open a savings account and one year later you will have 4.75% more.

    ...
  • How to invest my money as a college student?

    I would say go with a CD..you never know when you may need the money (and the penalties for early withdrawal are only a loss of interest, not a loss on your principal). Plus you can choose your ter...

  •  

    Categories--Copyright/IP Policy--Contact Webmaster