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Grant Request Received

July 17th, 2010 at 01:53 pm

I requested a grant from Our Military Kids to cover six month of tuition for my children to attend dance and tumbling. We received it!!

The check was sent to the organization and I actually had prepaid the tuition for the upcoming year. The dance studio is sending me a check for what is now an overpayment in the amount of $697. Yipee!

The real question though is what to do with this money. I could put it on the van loan. Or I could save it for things like school clothes and Christmas gifts. If I put the money on the van loan, as these expenses come up, I will need to reduce the amount I put on the van loan.

Any opinions?

Posted in Spending, Family, Debt | 6 Comments »

6 Responses to “Grant Request Received”

  1. Just a thought Says:
    July 17th, 2010 at 05:18 pm 1279387126
    1279387126

    How about some type of split? $500 for Christmas/school shopping and $197 to the loan? The best of both worlds!

  2. Joan.of.the.Arch Says:
    July 17th, 2010 at 05:56 pm 1279389414
    1279389414

    Sounds like a big help. Smile If you don't have money set aside for school clothes and will need them soon, definitely spend some of the money on that. But if you really will be okay with the clothes, and especially if you are in the early months of the car loan, then paying down the car loan by $697 will save you a small amount of interest....Don't know what to say about Christmas spending. Seems so far away and I have no idea what you like to do with that holiday.

  3. ceejay74 Says:
    July 17th, 2010 at 10:55 pm 1279407319
    1279407319

    Great news, congrats!

  4. Looking Forward Says:
    July 18th, 2010 at 04:21 pm 1279470104
    1279470104

    I'd put a chunk to the car loan. This is money you had already "spent" so you would have had to figure out how to pay for clothes and Christmas anyway.

  5. creditcardfree Says:
    July 18th, 2010 at 10:21 pm 1279491706
    1279491706

    Very good point, Looking Forward. I likely will put all or most of it towards the loan and call it a done deal. At this point I don't expect to need too many school clothes, just shoes and school supplies to begin with. It can all be purchased a little at a time with regular funds. The same can be done for the holidays as well.

  6. frugaltexan75 Says:
    July 19th, 2010 at 02:05 am 1279505159
    1279505159

    How awesome! Isn't it great when things like grants come through? Smile

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