Growing Found Money – February Update

Last month, my found money totaled $256.78. Below is February's total:

Amazon Sales $161.54

Ebay: $29.63

Not invested from last month: $6.78

Grand Total to invest = $197.95

Not as good as last month, but still a good total. The stock I purchased last month hasn't done anything yet (at least it didn't tank - right?) This month, I decided to invest in myself and my education. I need to get my Project Management certification. The certification will keep me marketable and make it easier to find another job if I were to get laid off. The books I needed to study for the exam cost $75.95, leaving $122.00 to invest in something else.

Using the mortgage calculator at Bankrate.com, I calculated that adding a $122.00 to my next payment would save about $411 in interest over the life of my loan. Not a bad return on my money.

What should I invest in next month? Should I put it towards my car payment? How creative can we get? How about buying and storing seasonal webkinz like the Love Frog for Valentine's Day or the Easter Duck to sell next year? I want to hear your ideas - investing doesn't have to be boring - let's make it fun.

Comments: 9

denise e Mar 4, 2008, 8:39am EST

a great idea to pay extra on those regular payments, it really does add up

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Mary M. Mar 4, 2008, 11:04am EST

We had considered using some remaining home equity line money to pay off our car early. We were advised not to use it for an investment that 'offers a diminishing return.' I guess that means you won't really be growing money if the car will continue to lose value.

You're really smart to be so financially responsible. You've gotten me thinking about this topic. Thanks!

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Dana H. Mar 4, 2008, 1:12pm EST

That's a good point about not using the equity line to pay off the card since the value always goes down on vehicles not to mention even though the equity line may be lower interest, it is spread out over a longer period and could end up costing more in the long run. I once took a 0% cash advance from a credit card to pay a car off and then paid the credit card off before the 0% period was over. I bet that would have sent a finance manager in a tizzy! But I locked the card up and never carried it my wallet to make sure it didn't get used for anything else so I got the full advantage of the 0% transfer.

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