• Mustang Forums
  • 2005 - 2014 S-197 Mustang -General/Talk-

What would you do?

  • Thread starter Thread starter TBrad
  • Start date Start date Mar 30, 2009

What would you do?

  • Spend the money on the mods (Cams & Headers) I've been wanting to get.

    Votes: 4 13.8%
  • Pay off the two credit cards that will free up about $100 a month.

    Votes: 24 82.8%
  • Save the money for a rainy day.

    Votes: 1 3.4%
  • I don't give a damn... It's not my money!

    Votes: 0 0.0%

  • Total voters
    29
  • Poll closed Apr 29, 2009.

TBrad

New Member
Feb 15, 2009
91
0
0
Dallas, Texas
Mar 30, 2009
#1
  • Mar 30, 2009
  • #1
OK... It's the end of the fiscal year and my employer gives out an end of the year bonus to all of it's employees. Although this year it will be of a minimal amount because of the economy. Actually, I am surprised we're getting anything at all. So thank God for that.

With this bonus money I can do one of three things...
Buy the cams, headers, and a couple other minor mods I've been wanting. Pay off two credit cards which will save me about $100 a month in payments. Or, just put it in the bank and save it for a rainy day.

So... what would you do?
1. Spend the money on the mods (Cams & Headers) I've been wanting to get.
2. Pay off the two credit cards that will free up about $100 a month.
3. Save the money for a rainy day.
 

T N T

New Member
Feb 19, 2009
9
0
0
NJ - Exit 165
Mar 30, 2009
#2
  • Mar 30, 2009
  • #2
Don't thank God, thank your boss.
 

mustangford289

Founding Member
Sep 16, 2001
957
5
48
Florida
Mar 30, 2009
#3
  • Mar 30, 2009
  • #3
ya

T N T said:
Don't thank God, thank your boss.
Click to expand...

Let your boss thank God! He made all the money!
 

TBrad

New Member
Feb 15, 2009
91
0
0
Dallas, Texas
Mar 30, 2009
#4
  • Mar 30, 2009
  • #4
T N T said:
Don't thank God, thank your boss.
Click to expand...

I did today...

He said he didn't feel right in taking a bonus unless everyone else got one too.
 

klaw

Member
Oct 11, 2007
343
0
16
Calgary, Alberta, Canada
Mar 30, 2009
#5
  • Mar 30, 2009
  • #5
I faced the exact same decision today. After having thought about it almost steady for the past three months I picked up the phone and ordered more parts.
 

GreyDiesel

New Member
Jul 26, 2008
167
1
0
Denver, CO
Mar 31, 2009
#6
  • Mar 31, 2009
  • #6
you can probably save the monty for the mods faster than you'd think after you pay off the credit cards. Plus, we all love our mustangs on some level because they represent freedom, yet your not truly free until you have no debt.
 

stangdude2000

Founding Member
Jun 23, 2001
1,727
0
0
Northern VA
Mar 31, 2009
#7
  • Mar 31, 2009
  • #7
I agree with Grey. Pay off the cards, since it is probably some ungodly high interest rate. Then, save the $100/month and set it aside for your mods.
 
S

stanmckinney

10 Year Member
Mar 30, 2005
1,188
5
49
Mar 31, 2009
#8
  • Mar 31, 2009
  • #8
In today's economy, pay off the credit card.
 
I

IresGift

New Member
Nov 13, 2008
8
0
0
Midland, TX
Mar 31, 2009
#9
  • Mar 31, 2009
  • #9
Pay off one of the credit cards and get the headers
 
O

o0Dan0o

Founding Member
Feb 8, 2001
485
1
0
Mar 31, 2009
#10
  • Mar 31, 2009
  • #10
TBrad said:
He said he didn't feel right in taking a bonus unless everyone else got one too.
Click to expand...

LOL, but no question in his mind that he was getting a bonus? Seems like a great guy though.

Pay off the cars, you can always buy the mods later with those cards if you choose to.
Dan
 

ufnavy06

Member
May 23, 2006
292
0
16
Jacksonville, Florida
Mar 31, 2009
#11
  • Mar 31, 2009
  • #11
Pay off the cars. No question. You'll save money that way plus the parts you want might go down in price.
 
W

welchy

Active User
Mar 30, 2006
11
4
29
Mar 31, 2009
#12
  • Mar 31, 2009
  • #12
My first inclination is to say pay off the credit cards. It is financially unsound to carry a balance on a c.c. (not to say that I have never done it) That being said it is even more important to have 2-3 months salary in savings just in case. If you are 100% sure that your job is safe for the next year then pay off the credit cards. If you aren't then put the money in savings.
 
B

BudgetPlan1

New Member
Apr 28, 2008
38
0
0
NE Ohio
Apr 1, 2009
#13
  • Apr 1, 2009
  • #13
GreyDiesel said:
you can probably save the monty for the mods faster than you'd think after you pay off the credit cards. Plus, we all love our mustangs on some level because they represent freedom, yet your not truly free until you have no debt.
Click to expand...

Bingo; get out of debt, not into *more* debt. If only people woulda thought that way for the past few years...*sigh*.
 

NotQuik

Founding Member
Oct 21, 2000
5,158
29
88
Central Florida
Apr 1, 2009
#14
  • Apr 1, 2009
  • #14
pay off the cards or save the money....who knows what will happen tomorrow or next week....play it safe man.
 
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