The one with the best deal changes from week to week...and you can drive yourself crazy chasing the deals...not to mention you get no interest while the money is in transit. And some of those higher rates come with conditions.

I'd say, Pick one. Check on the rate every 3 months to be sure everything is still OK. Move only if you can get > 1 to 1.5% difference (and no weird hoops to jump through), and even then you might wait to see if your bank catches up.

You may find these links helpful:

• "How to handle $"
• Investing

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The smart idea is transferring this money to an account you control

Never pay before you need to

Isn't C360 at 3.3% now? They seem pretty highly rated, don't overcomplicate things by chasing rates as they change all the time. They may go up and down, but Ally and C360 are consistently one of the highest options.

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Vio bank does not have good reputation. Search this subreddit to check the negative complaints.

Synchrony HYS adjusts with market. Currently at 4% with higher for 15 month CD.

Doing it for no reason is a bad idea. But if you believe doing it may get you an apartment that you may otherwise not get, it is a fairly cheap and easy way to potentially get a big benefit.

Two main issues:

• will doing it actually help your application? Maybe - hard for any of us to say. That’s more personal opinion than strictly a finance question.
• does prepaying hurt your negotiating position if something goes wrong? Certainly possible, though if you’re paying no more than the current year in advance (quarterly would be even better), you probably aren’t hurting yourself much in case of disputes.

Paying debt off early is rarely a bad idea.

Having been in a similar situation to you and having gone the route of dumping all my extra cash into paying off my car loan super early….I wish I had put much of it elsewhere such as building cash reserves, into investment accounts, towards retirement, or savings for future large cash expenses (vacations/wedding/etc)

If you’re comfortable where your cash reserves are at, have you considered opening a brokerage account? You could split that $500ish your saving between the brokerage account and extra car loan payments since that seems important to you.

That way you’re putting money into an investment account that’s more liquid than a Retirement account but earning more interest that a traditional savings all while still paying off the car early.

Ultimately, there’s no wrong decision here so go with whichever strategy mentioned in any of the comments feels right to you.

You sound financially safe. Therefore, I think you should keep the loan on the car and build up a bigger nest egg. Once you get 10k, put another 5k or so into individual stocks that are reasonably safe. Use your credit cards and pay off every month. Then, you will have free cash available if needed. I support you in making family a priority. Meanwhile, look at your monthly expenses. You might be able to trim 100 to 200 every month. That is after tax money.

Had a friend who worked there. They were told to not be concerned about accuracy. Just get the returns done and paid for. HR has a huge liability policy, if they make a mistake on a return, the lawyers take care of it

Vio Bank is easy to use and above 4% for HYS.

Nerdwallet is a sponsored website meaning they get kickbacks for referrals and/or pressing their links, use DoC (see: https://www.doctorofcredit.com/high-interest-savings-to-get/). There's a lot of other banks with high yields that Nerdwallet won't advertise.

6-12 months seems to be the new 3-6 months

Oh no

There are ways to spend $1,500 a month that would make life more pleasant for the whole family, not just you. A weekend away, membership to a pool, season’s tickets to some sports team, a trip to the nearest major city and a Broadway-quality show. Then your family would be making some memories together that went beyond “my dad hated us so much he hid in an apartment all weekend.”

Lose the dogs though. There’s no purpose to having those filthy creatures in a human home.

I think you meant to post this on r/relationship_advice

Copnsidering higher interest rate on car payment I will accelerate paying off that debt.

This is something more appropriate to post in /r/AmItheAsshole and I can predict what the answer will be.

>Just transfer some money after opening the account for the initial deposit. Wait until the paperwork arrives, and signature card signed and returned, and transfer the rest.
>
>Creating many smaller transfers is one way to get flagged.

DeluxeXL has been around this sub for awhile, I would put great emphasis on his tips.

If you owed $5k on your car, would you walk into a bank and take out a $9k loan at 5%?

I dunno. Can your wife also rent an apartment for her to use to escape from you, the kids and the dogs?

You didn't lose $800 in interest, you paid $800 to drive around a car you didn't own (all of, yet). Sure, lower is better, but you have think about interest in terms of what it gave you. At 4.99%, you made use of about $16,000 worth of something you didn't own.

Meanwhile, sure, your market investments probably aren't doing that well, but you're buying shares on sale that will pay off later. And the money you've kept as cash as an emergency fund isn't wasted, either, because you didn't know for sure that you wouldn't get laid off, just like you don't know for sure right now that you won't get laid off this year, so it has value as risk mitigation even just sitting in a HYSA. So when you spent $800 for the privilege of using a car you hadn't bought yet, it allowed you to put money into these other things that will help you as much or more than that $800 would have.

4.99% is right on the edge where paying off early for guaranteed return might make sense I think, so sure, make extra payments on it if you feel like it, because it's a safe-ish way to get a good return on a portion of your money, but don't think about the absolute dollar amount of interest as a waste without putting in context of what it bought you.

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