Comments on: If I had an Extra $1,000

By: Mary@SimplyForties

Mary@SimplyForties — Sun, 16 Nov 2008 05:34:53 +0000

I’d pay down my debt faster and then build my emergency fund faster. Let me tell you that rental properties are definitely NOT passive income! They are a lot of work!

By: Andy @ Retire at 40

Andy @ Retire at 40 — Sat, 15 Nov 2008 12:59:01 +0000

I'll actually have something like that (in NZD) in my pay packet this month. Earlier this year I went down to 4 days a week and since then I have had a pay rise and there has been a tax cut here in New Zealand. I've just been asked to go back to 5 days a week so my pay packet will be substantially more than it was before. I think I'll end up putting much of it in my Emergency Fund and my Freedom Fund.

By: Dawn

Dawn — Thu, 13 Nov 2008 16:36:25 +0000

Hee – that would only give me $100 to spare! I’d probably put it in my emergency funds.

Seriously, I would probably keep doing what I am doing, but working at paying of what little extra debt I have a bit faster. My car and my credit card should both be paid off by next year, instead I would pay them off in a couple of months. Then I really would fund my emergency savings. Ok, and saying ALL that is done, I’d go back to school and take some more classes and invest in myself.

By: Aaron

Aaron — Thu, 13 Nov 2008 16:03:55 +0000

I’m not sure I consider $1,000 a month a large sum. Though if I had more money coming in I would save more and give more to charity. After watching a segment on Dave Ramsey with the Modest Needs charity, my wife and I recently started giving to charity (we’ve since increased the amount we’re giving due to the economy). If you’re looking for a reputable charity I highly recommend Modest Needs. They have a strict documentation process for approving applicants and the money goes directly to paying the bill/service they’re having an issue paying (getting them back on their feet). Also, a nonprofit organization matches your contributions dollar for dollar.