Madison MoneySports - Personal Finance Thread

[HAULN-SS]

Sounds like a good call. Make sure you're focusing on the right debts. Never carry a credit card balance. I don't know what you refi'd at, but there's almost no point in paying ahead on a house. I know some people feel like that's an albatross around their neck, but with interest rates sub 5%, almost everything else beats it. Let your extra cash work for you. The house will get easier and easier to pay off the monthly note as time goes on, just based off standard raises. If you can go for a promotion or switch fields to something more lucrative, all the better. Switching fields is not a bad idea, but the sooner the better. I think certifications and such help in some areas, but I've never gotten one (software/networking field). Whenever I am interviewing someone, I look for genuine interest in the area they are looking to get into. Lastly, I think look at relocating. If you're talking about cars, there's not a whole hell of a lot of difference in what a BMW costs in Harrisonburg, vs what it costs in Northern Virginia. Yes, the cost of living might be more, but that's mostly referring to housing as far as I can tell. If you were to move, you'd likely make more, and have a higher cost for living somewhere, but a $600 car note is not going to seem like as big of a percentage of your monthly income. Whether you can stand the difference in the other living factors like traffic, crowds, or living in a smaller place is likely the main thing you'd have to think about. I think you'd also have to prioritize what's important - having a nice place, or having nice things. It can be hard to do both. Maybe find other hobbies that are not as expensive. I have about $10k in musical gear, but that stuff lasts a lifetime and has a one time cost.