what would you choose?

[tammy88]

okay if you can pay off things like car insurance until jan 2008 or put $120.00 in the savings which would you choose.

So September
1.
A.) pay Geico $180.00 paid in full until 01/2008
B.) Save $120.00, in the savings Account

2. Would you try to pay utilites ahead or just pay them as they come and save the money you would have used to pay ahead???

[Cricketlegs]

save and pay as I go.

If the bills are already budgeted in to get paid every month and there is no interest then save it.

The bills will get paid and the rainy day money will be there when needed.

I push for building the EF everytime.

[tammy88]

thats how im thinking on doing it, but my husband thinks it would be better to pay everything ahead incase we have a bad financial month or that we can get to a point on having some free paychecks..hmmm..kinda a tuffy for me thats why im asking..

thanks

[ktsmama]

I would save it until it is needed. At least you would be earning a tiny bit of interest.

[YankeeMom]

I would put money in savings. Why let the insurance company (or utility companies) earn interest on your money when you can

[Little Birdie]

I would put the money in a savings acct where it can earn at least a little interest, then pay the money when it is due. In other words, what YankeeMom said.

Unless, I hesitate to say this--just keep in mind I know actually nothing about you or your husband, you think he might not be able to not spend the money if it is available to him. In that case, pay the bills early and the lost interest is your insurance that they will get paid.

[FrugalMomof3]

I agree with putting it in savings, earning interest and pay the bill when due, otherwise like Little Birdie says, if you think your DH will spend it, then it might be easier to just pay the bill off and not have to worry.

[tammy88]

no no im not worried he wil spend the money = )
we are just trying to find the best way to get ahead

[FrugalMomof3]

Well if you put it in savings, you will earn interest but if you just want to pay it just to get it out the way (which I normally do myself) then pay it.

[pita1213]

if it's something like the car insurance or a utility, i would do as the others have said and pay as you go and save the rest.
if you every have something that is charging you interest, then you are better off paying that off instead.

[Jaded]

I always opt for savings.

[Jenna]

Originally Posted by tammy88

okay if you can pay off things like car insurance until jan 2008 or put $120.00 in the savings which would you choose.

So September
1.
A.) pay Geico $180.00 paid in full until 01/2008
B.) Save $120.00, in the savings Account

2. Would you try to pay utilites ahead or just pay them as they come and save the money you would have used to pay ahead???

Are you paying Geico monthly, and is there a service fee? I used to pay monthly & would pay $5 extra for the privilege of paying monthly.

If you're paying a fee -- payoff the insurance.

If there is no fee -- put the money toward the c/c with the highest APR.

I would not pay utilities ahead of time - I would pay as they come & keeping in mind to save a bit of money for the extreme seasons when the bills are likely to be higher for heat or air conditioning.

[Preston]

Save it. For many reasons listed above....

but also your car insurance premium may change -- and you'd have less flexibility should you decide to change companies.

(Personally, I wouldn't be giving money to GEICO in the first place)