quote:

Originally posted by Max Q I did it with my bank (CIBC). It's really good actually. I think I pay like Prime plus 4.5% (so like 8.5% interest approx) and the one I have is a 4-year loan (for $10,500) which works out to about $130 bucks every paycheck -- MUCH less than what I would be paying if I paid my other bills and their interest amounts!

that aint bad! or you can go with a line of credit, thats what I did for my debt consolidation, thankfully I just pay prime on it.

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quote:

Originally posted by Max Q I did it with my bank (CIBC). It's really good actually. I think I pay like Prime plus 4.5% (so like 8.5% interest approx) and the one I have is a 4-year loan (for $10,500) which works out to about $130 bucks every paycheck -- MUCH less than what I would be paying if I paid my other bills and their interest amounts!

did you, at the time, consider a line of credit instead? you would be paying prime + 1% and paying off at your own pace. or are those harder to get?

quote:

Originally posted by trancendental Like after necessities are paid off, just curious as to whether you guys invest. Do you guys have a habit of saving? Hope this question isn't personal.

I save until i have enough money to buy plane tickets to come back to Canada!

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quote:

Originally posted by drgoodvibe that aint bad! or you can go with a line of credit, thats what I did for my debt consolidation, thankfully I just pay prime on it.

ha. i didn't read your post since i was just answering max. ha.

i have a line of credit but now that ray works full time now he is going to need something like that to pay off some debts.

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Originally posted by StereoPrincess where can you get a debt consolidation loan?

Most banks dont like consolidation loans, especially outside debts...and the interest rates are high. Your best bet, your own bank, you have a relationship with them so they should do it for you. based on your credit history and all that jazz....

If anyone needs any help, like financial info message me. I use to do this stuff before.

later

quote:

Originally posted by drgoodvibe that aint bad! or you can go with a line of credit, thats what I did for my debt consolidation, thankfully I just pay prime on it.

quote:

Originally posted by StereoPrincess did you, at the time, consider a line of credit instead? you would be paying prime + 1% and paying off at your own pace. or are those harder to get?

I would have liked to get a line of credit instead.. but I think it was harder for me to get that so they just gave me a loan instead.

Line of credit is the way to go if you can get one. I'm paying 4% interest on my LOC, it's great.

i spent some money on an amp + subs for my car... gotta listen to trance the way its supposed to sound

I stashed away $3000 USD into a Roth IRA (which is an american version of the RRSP) when I was 18. Roth = Money deposited is not subtracted from your income, so you have to pay tax on it for the current year. However, when you take money out, it is untaxed (including the profits). I made 43% last year during the recession . BTW I manage all my investments through Vanguard. LINK They have the lowest account fees of all the major brokers and have a really diverse section of mutual funds.

-+Aron

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"It's mercifully over. But a new phenomenon has taken hold. I recognize it: feelings. Now that they're back, even overcompensating, I never want to lose them again. Bitterness, anger, jealousy, sadness: They all make me happy."

I have a serious shopping addiction..most of my money goes towards shoes and handbags!!!!!

drugs parties and munchies...