if you were a 19 yr old college student, who is pregnant, in debt big time, and has a piece of **** car (saab 9-5), and it seemed like bill collectors were always calling, and thigns were always going wrong, and you had nothing for your baby due in january, a car to drive, or anything to give your mom and fiance for christmas, and bills piling up to the sky, what are the top 5 things you would do with the money?
Name the top 5 most important things....other than the baby of course.
2006-12-19 12:53:42 · 12 answers · asked by lildrumagrl 2 in Business & Finance ➔ Personal Finance
Pay the bills, you don't want debt.
Make something handmade and simple for people for Christmas.
See if you can find a cheap used car possibly.
Buy the things you'd need for your baby.
Put the rest in the bank for later.
2006-12-19 12:59:30 · answer #1 · answered by adnama 3 · 0⤊ 0⤋
1. Put at least 1/2 of it in a savings account. Use this to help keep you from getting deeper in debt.
2. Use a small chunk to put together a decent set-up for the baby. Thrift stores usually have everything you need at good prices.
3. Don't sweat the Christmas presents- find non-material ways to show them you love them.
4. The car is not something that has a clear answer- fix it, replace it... that is more a question between you guys and a decent mechanic.
5. There is almost always someone on staff students can talk to about problems, including debt. Find that person and see what you can do to get the debts under control. DO NOT use most 'credit help' agencies- most are a scam, and you can do the same work for free.
6. Use any extra money to start getting out of debt.
Many people will suggest throwing money at the debt- which is OK, but without a savings buffer, you end up borrowing money again at the next crisis. A savings account helps prevent this.
2006-12-19 13:09:15 · answer #2 · answered by Madkins007 7 · 0⤊ 0⤋
(1) If you are in a local church, TITHE (10%). It opens up the door for more blessings. $800
(2) I would then make sure that I have 5 things, a place to live, lights, water and gas and food.
(3) I would buy about $500 worth of things for the baby IF I were not having a BABY shower. (Diapers, formula, clothes and lotions)
(4) Pay something on each bill that I have... pay off any bill under $200.
(5) Put $4000 away for a rainy day and to keep you a float after the baby is born.
(6) Ask for help from the father.. This perhaps should have been #2.
(7) Pray and then buy yourself 1 thing you need, such as new gowns and personal items for after you have the baby..
Praying for you.
If it's a girl.. name her Trinity Miaelle... Boy, Tristin Michael (Mikele)
Things will get better. As for the car, have your boyfriend or father, uncle, brother to change to oil regularly and the spark plugs.. It will run for another year or so.. Then in January 2008 - trade it in!
Christmas gifts, they understand.. Besides the after Christmas sales a spectacular.. Use ONLY $100 and buy a few gifts for 3 people.. for now everyone else will get Christmas cardz.
Take care of you and baby!!!
2006-12-19 17:53:48 · answer #3 · answered by KeraniBai 3 · 0⤊ 0⤋
1) Buy cookie dough and other items to make for homemade Christmas presents...you're pregnant and EVERYONE will understand that you didn't walk in with a sack full of gifts. Your fiance should be the first to tell you that the money you're about to spend for him on Christmas should be spent for his baby.
2) Pay some of the debt. Pay all of the bills from smallest to largest. Start with smallest and work up because the more creditors you get off your back, the more your score will increase. Also, even though you may have one bill left, and it was the largest bill, ONE minimum payment is easier than making five minimum payments. Having to make five minimum payments carry a higher than likely chance you may, at one point, have to make a decision between one or two minimum payments or something for the baby. Being in that position, missing payments will jsut continue your credit on a downward spiral.
3) Bill collectors off your back and credit score on the rise, you may have SOME extra money to either keep the car passable or put away for a future car down payment
4) Set up a 529 plan for your child's future college education
5) Put money away to continue college in the summer or fall.
Either way, the baby is paramount...none of these top 5 should come before the baby
2006-12-19 13:05:15 · answer #4 · answered by dougzinboston 4 · 0⤊ 0⤋
1. Buy a reliable car. Almost a must with a baby.
2.send 50.00$ to all your bill collectors, So they get off your back for a month.
3. Buy you something nice - Maybe a massage, Your pregnant you deserve it!
4. Buy your mom and fiance a little 20$ gift.
5. Pay a couple months of rent,
2006-12-19 13:04:38 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I would pay off the bills because that would raise my credit score and help me get a better car. Then I would get my mom and fiance gifts. But I would be sure to save some also either to invest or just save.
2006-12-19 13:02:28 · answer #6 · answered by talarlo 3 · 0⤊ 0⤋
Pay off as much of the debt as possible.
Keep a little on the side to get something kinda nice for fiance and Mom.
Use some to get baby furniture, used in good conditon, from garage sales, perhaps.
Take up meditation, it's free, good stress relief!
Pray for things to get better, it really helps...
good luck and I'm praying for you!!!
2006-12-19 13:02:52 · answer #7 · answered by lubinmt 2 · 1⤊ 0⤋
well dont worry about christmas so much, u can either explain or just get somethin little, pay off ur debt ur too young and in skoo, put down on a new car, if u can sell ur car then do that so:
pay off debt
try gettin a new car
and save up possibly
pray put everything in God's hands
and maybe invest...if u can
2006-12-19 13:03:40 · answer #8 · answered by babiluv 3 · 0⤊ 0⤋
at first I would off course,take care of the baby, buy some nice (not too expensive presents)and then -invest the rest of the money smartly (so you can pay off your debt soon(forex)- let them grow - fast that is ,with http://4xgenie.com (registration code is MSMS555) , free 3 weeks trial, (no credit card needed) , profit guarantee, simple,smart choice to invest. No need to watch market like crazy,they will do it for you.You will be getting tips when sell/buy.It is amazing,let me tell you.
2006-12-19 13:29:35 · answer #9 · answered by sil 3 · 0⤊ 0⤋
....# 1 take care of baby....#2 pay your debts...#3 finish your education...#4 maybe save a little...#5 if you cant get a car right away then maybe you can start saving for one..good luck
2006-12-19 13:04:16 · answer #10 · answered by marion m 2 · 0⤊ 0⤋