If you're not upside down on the car I'd keep making the minimum monthly payments. As stated you're not getting killed on the interest. You can take the other half of that $500 and make more than the 4.9% you're paying to the bank. That's what I'd do.
Personally I'd look to put it into something other than the stock market. I don't like stocks. For investing purposes you can make more money putting it into something not as speculative. I just have little faith in it. Trading is a zero sum game and I have ethical issues with that. So I am just not a fan of stocks. I'd rather deal with real property or something tangible like that.
__________________
Ernie Johnson: "Auburn is a pretty good school. To graduate from there I suppose you really need to work hard and put forth maximum effort."
Charles Barkley: "20 pts and 10 rebounds will get you through also!"
|