(no subject)
I'm debating whether or not to take out a $1500 Chase Bank Loan that's technically supposed to be used for tuition, to pay off my Discover Card, as well as Old Navy, and close both the accounts. I owe $900 to Discover, and after I make a $20.95 payment to Old Navy, I'll owe them roughly $432. That would cover both bills, and I won't have to pay back the loan, until I graduate from Mville, with a 10.5% origination fee added to the loan. It'll cut down on my bill payments each month, so I'll only have to pay my phone bill, and I cant actually start saving money, so that when I get out of school I can pay off the loans. And since I will probably be making less than $150 every two weeks once I get back to school, I can limit myself to $50 spending cash every two weeks, and put the rest in the bank, and then when it comes time to pay my phone bill, have enough money to pay that, and whatever I have left from that, keep in the bank.
It seems like a reallllly good idea to me, because I won't have to stress because of money, living off paycheck to paycheck, barely having enough money for myself when I really need it... If I don't get the loan, it will take me longer to pay off Old Navy, and Discover, plus I won't be able to save any money, because my paychecks will basically go to bills.
This year I'm trying to be more financially stable... and with my credit card bills, thats not an option. I'm lucky to have $25 to my name after I pay my bills each month, and it seems like I've been trying to pay off Discover for months, and it hasn't gotten anywhere. With all the money I've paid, without interest I should have had at least a 3rd if not half of it paid off, but with interest I keep getting deeper in debt.
They're just generating my credit agreement, and I'll have to definitely decide by then what I want to do.
I just want someone else's input on the idea....
It seems like a reallllly good idea to me, because I won't have to stress because of money, living off paycheck to paycheck, barely having enough money for myself when I really need it... If I don't get the loan, it will take me longer to pay off Old Navy, and Discover, plus I won't be able to save any money, because my paychecks will basically go to bills.
This year I'm trying to be more financially stable... and with my credit card bills, thats not an option. I'm lucky to have $25 to my name after I pay my bills each month, and it seems like I've been trying to pay off Discover for months, and it hasn't gotten anywhere. With all the money I've paid, without interest I should have had at least a 3rd if not half of it paid off, but with interest I keep getting deeper in debt.
They're just generating my credit agreement, and I'll have to definitely decide by then what I want to do.
I just want someone else's input on the idea....