While building up your EF, would you pay more on a loan at 4.4%? For example adding the interest to the minimum payment at least? Or just focus on socking away for the EF?

How do you define good vs bad debt?

It's very easy to preach 0 debt and to buy investment properties in cash when this is your income. This is why so many Ramsay followers become FI community members instead once they get out of credit card debt. https://twitter.com/theficouple/status/1619834701220581378?s=31

Question about car payments/loans. I’ve been a little confused lately on payments. I thought I was adamantly opposed to any type of payments but I may have been mistaken. If I wanted to trade in a car we have for used mini van, is this considered an ‘ok’ debt/payment to have? I’m nervous about adding another monthly payment because we don’t have any payment on either of our cars ATM. Looking online (because the dealers aren’t committing too much) it looks like it will be around $18,000 to have to finance and 3.2% interest for 60 months if I choose that long.

for those that follow the baby steps (dave ramsey) was it an eye-opener or were you already following some sort of path like the baby steps? I personally hated debt and don't have credit cards. I understand many people leverage debt to become wealthy. I would rather not have the stress of going into debt and live a more simple life. what are your thoughts on debt? I plan on paying off my mortgage as quickly as possible. any extra money I will throw it at the mortgage.

Does it ever make sense to take a personal loan to pay off CC debt instead of the various methods at paying them off 1 by 1?

how do I put in credit card in YNAB without it swallowing the whole budget? It's 0% interest so there is time to pay it off. Do I just NOT put it in? It's basically telling me I have no money left to spend because of the debt (might be true lol but still need it to understand that I'm not paying it all off right now

I have some HELOC debt that I'd like to pay off. The interest rate currently is about 7.4%. Does it make sense for me to withdraw money from my Roth 401k account (no penalty for withdrawing principal) to pay it off? My reasoning is that paying off the HELOC gives me a guaranteed annual return of 7.4% which will likely be better than what I'll make in the market over the next couple of years. So even though the Roth 401k will give me significant tax benefits eventually, are those benefits worth the cost of getting lower returns over the next few years? (Obviously, this question assumes that interest rates will be higher than market returns over the next couple of years. If that would not be the case, then there would be no reason to withdraw the money and pay the HELOC).

Is there any way to get out of a car lease with a high monthly amount, or I just need to wait it out?

I recently started a mortgage at 6.75%. Trying to weigh the ideas of paying it off early vs. investing in index funds, when I have the opportunity. What are some good tools/ideas to sharpen my perspective here?

I had a thread about this topic a while back but can't find it (not sure if we have access to it anyway on regular tier). Is there a legal way to structure a loan from a family member so that it can be used as a down payment? Or is accepting it as a "gift" and then subsequently paying it back by definition a "loan"? What if the lender is not going to be forcing payments or extracting money in the scenario where the borrower can't pay back? I.e. if you can't pay the bank then eventually the lien is seized. That would not be the case in this scenario.

If I were considering taking out a loan to help finance a home renovation, what are my good options?

Following up on ^^ - would it make sense for me to temporarily stop putting money into longer term investments and direct it towards saving up for paying up front as much as possible for the home renovation, to reduce the size of the loan, at the expense of investing? Seems like reducing debt with 8%+ interest makes more sense than investing.

Rambam Deos 5:12 וְלֹא יִמְכֹּר שָׂדֶה וְיִקְנֶה בַּיִת וְלֹא בַּיִת וְיִקְנֶה מִטַּלְטְלִין אוֹ יַעֲשֶׂה סְחוֹרָה בִּדְמֵי בֵּיתוֹ. Is the Rambam opposed to leveraging home equity? Many did cash out refinance at the low rates, and have great returns...

Most historical religious text is strongly against debt. I'm not sure debt worked in the same way back then, I don't think there were consumer protections.

Are payday loans worse than CC debt? They both seem to have high interest rates and you can end up paying much, much more on the loan than what you originally paid for. I'm just wondering if there's something specific to payday loans that make them worse than CC debt.

For those of you trying to understand the relationship between Federal Reserve policy and your life, consider the following quote from a recent market report from Value Line: "Since the Fed’s interest-rate cut on September 18th, the long end of the Treasury yield curve has steepened, with the rate on the 10-year note rising. This may put some upward pressure on mortgage rates and not provide homebuyers as much relief as expected with regard to loan financing terms". Often I hear friends and colleagues say things like "when rates come down" - conflating the short-term rates set by the Fed today and long-term rates that project how they will be set in the future. Evidently, the most recent rate cut was already "baked into the cake" per the concept of unbiased expectations.

My employer offers a 401k matching up to a certain amount. I need the money for my month to month expenses. Is it worth the penalty to put the money into 401k and then withdraw it so I get the match?

Does anyone have recommendation/ warnings when considering a line of credit to be used to cover credit card debt? Sorry if this is the wrong place to post, I am new to the group. TIA

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I have a $2200 medical bill from an ER visit in February. I unfortunately cannot pay this and they are not able to work out a payment plan that I can afford. Please advise what I should do.

Is there any way postpone accruing interest on student loan debt?

Trying to figure the best plan for student debt repayment. I have some loans with with higher interest rates (7-8%) and some with lower rates (4-5%). I want to pay off the high interest loans first so I'm thinking to pick the payment plan with the lowest monthly payment so I'm not forced to pay that much towards the lower interest loans, and manually pay more towards the high interest loans. Does this make sense?

Any recommendations for car loans with good interest rate? Thanks!