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The first is an extenuating circumstance; the second is not.

Padisah,

So are you saving that leaving your money in a noninterest account at a bank is smart ? You do realize the bank uses your money to be lent out at a certain interest on which they make their money on.

By placing your money into a bank, you are enabling the bank to promote interest.

So why not get compensated by your bank for using it ?

If u are opposed to interest, just give it away to charitable costs. At least that way it doesn't go into the fat coffers of the bank.

AbdiWahab252,

You given some decent advice. The interest thing is something that most people take for granted.


Ismahan,

#1baller's advice to you would be don't buy a car for the next period. The best thang that you can do if you wanna get ahead of tha pack is first and foremost, pay off your student loans in full. My parents paid mine so I didn't have to worry bout that, but you have the ability to be smarter than most Americans. The money you get from your settlement with the Insurance company should go directly to your student loans or watever debts you have. You're gonna save alot of money by not having a car in tha short term. You'd save on gas, monthly car notes, and insurance premiums. Budget accordingly and you can get it done!


The rest of the other posters here.

I think ya'll should get yourselves familiar with money markets and invest if you can. Monitor commodity items like oil, natural gas, ethanol, gold, and innovative products. There's legal tax saving tips I can share with y'all besides the everyday stuff but I can't get into that here. I conduct alot of on-line business transactions that benefit me on a day to day basis.