Law student should buy a used car MiamiHerald.com
He recession is proving to be as stubborn as a toddler who won't go to bed. The longer it slogs on, the more your nerves are frayed.And, understandably, some people have become more indecisive in making financial decisions. It's hard for people to determine whether to hold on to their savings, buy what they need or want, or pay down debt. During a recent online discussion, I received lots of questions from chat participants trying to sort all this out. Here are some of the decision dilemmas:
Q: My husband is about to enter his fourth year of law school, of which three years have been paid for by his company. Unfortunately for us, they've stopped paying. We've taken out a loan to pay for his final year. Now my husband's car decided to cause problems, forcing us -- at least a year before we planned -- to buy a new car. This is our last month of car payments on my car, and December is the last month we owe money to the seller of our house for items we purchased from him. The monthly payments we were paying on my car and to our seller were going to go toward a celebration vacation in 2010. We've been carpooling to work here and there and I'm fine with it, except for the days he has classes. What would you do?
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