What to do with 100k bonus

[Anonymous]

Anonymous wrote:

Anonymous wrote:So $55k or so after taxes? I’d purchase an affordable car (either lightly used for cash or new at 0%) and put the rest to student loans.

But it depends on if “needs” a car is really just “wants” a car or not.

Really needs one as she has been without a car for 6 years to save us money.

Get her a decent new car and pay down your student loans. Your mortgage and debt seem high for your base income, but you obviously have great earning potential.

[Anonymous]

Only get her a car if she will do Uber with it to help pay for it. No more free-riding.

[Anonymous]

Anonymous wrote:Only get her a car if she will do Uber with it to help pay for it. No more free-riding.

Who is free-riding? Wife works, brings in around 70k.

[Anonymous]

So your HHI is 270k and she can't afford a car? You are doing something wrong.

[Anonymous]

Anonymous wrote:So your HHI is 270k and she can't afford a car? You are doing something wrong.

+1. Buy a sensible car with $5k down and 0% interest (Camry, sonata, etc) and put all the rest towards loans.

[Anonymous]

Anonymous wrote:So your HHI is 270k and she can't afford a car? You are doing something wrong.

Mathematically we can afford it but she was trying to pay off our debt first. We just finished paying her student loans.

[Anonymous]

If she would rather put the money on the loans instead of getting her a car then it must not be that bad for her. Put it on the loans.

1K for blow and hookers

[Anonymous]

Anonymous wrote:If she would rather put the money on the loans instead of getting her a car then it must not be that bad for her. Put it on the loans.

1K for blow and hookers

I agree but at the same time I am really tired about her complaining that she has been without a car for such long time.

[Anonymous]

[Anonymous]

Jesus, you people are bitchy as hell. Either answer the question or just go somewhere else.

Anonymous wrote:

Anonymous wrote:If she would rather put the money on the loans instead of getting her a car then it must not be that bad for her. Put it on the loans.

1K for blow and hookers

I agree but at the same time I am really tired about her complaining that she has been without a car for such long time.

You can find a pretty good, relatively new, Civic or Corolla for 12-15k. Then throw the rest at the student loans.

[Anonymous]

80K onto student loans

19K new-to-you car for wife

1K fun money

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$1k for fun
$20k for a car
$30+k for the loans.

With that much debt, I’d say only forgoe the $1k for fun. But agree with the rest. A used low mileage car for no more than $22k. The rest directly to the loan.

No, people need petit indulgences to get through. $1 isn't going to end the student debt and will add quite a bit to the morale of the household.

The indulgence is the second car. If they’ve existed this long without a second car, then they don’t NEED one, they want one.

[Anonymous]

All to student loan

[Anonymous]

I would put it all towards the student loan (120K-55K=65K).

[Anonymous]

Anonymous wrote:

Anonymous wrote:If she would rather put the money on the loans instead of getting her a car then it must not be that bad for her. Put it on the loans.

1K for blow and hookers

I agree but at the same time I am really tired about her complaining that she has been without a car for such long time.

Once you pay that student loan down, you can work on saving a decent sized down payment for a car - don't eat out for month and cut other little expenses, it all adds up. As pointed out, you can get a practically new Corolla for less than 15K.