I am working my way out of debt, but now what?

Question

I had a problem with money, and now I am selling my house, so I have an extra 550$ a month, I wonder after I pay all my bills, do I buy a moped and save myself that gas money (I drive an 8cylider , turbo) or should I invest that in schooling (550$for the first starting class and that lasts three months, then get into PARAMEDIC school if I pass the 3 mo thing.)

What do ya think?

Answer 1

I would invest in a career, that's the best investment you can do.It can give you a better chance in the future, and maybe when the time is right you can buy your dream car.  

Answer 2

if you get the moped, it will save you gas in the long run. schooling is a good investment and will ultimately give you the opportunity to make more money and do something you love. so i say, both.

Answer 3

Sounds like you still a a problem with money. What are you doing driving around an cylinder turbo when you can't even afford to stay in your home? Sell that gas guzzler which also probably costs a fortune to insure and probably has a big payment attached to it. Get a small fuel efficient used car and maybe you can afford to live and go to school. Any other luxuries we should know about that you should sell or stop paying for?  

Answer 4

Good for you on getting out of debt!  That is commendable.  I would put it in the bank if all your bills are paid til you know what you want to do.  What do you want to do most?  What is your dream?  Work towards your dream.

Answer 5

If you live in an area where you can ride a moped year round and you'll save a significant amount in gas, say $200 or more a month - then I say get the moped.  Then you can set aside the $200+ you're saving in gas for school and be able to do that in just a few months.  

If you can only ride the moped for 4-6 months in the summer or you'll only be saving $150 or less in gas then I'd say use the money for school.  It's a serious investment in your future that is really invaluable.  

Answer 6

Invest it in schooling, it pays long term dividends, anyway, unless you live in Ca. or Ariz., etc., I don't really think you will enjoy riding the scooter in a snow storm. Good luck. (Hey, cop school is short amount of time and reasonable too, just an idea.)