Saving vs. paying off my car
So lately I've been finding myself with small amounts of money left over out of every paycheck. For example, after I pay for bills, food, gas, spending money, savings, etc., I should have $61 left out of my paycheck I just got today. I already have a $300/mo car payment and I transfer $50 every two weeks into a savings account. I really want to build my savings, but I also really want to get my car paid off. I still owe a considerable amount on it, and if I continue to pay at this rate it will not be paid off until 2012. I also want to buy a house, though, in a couple of years, and I would like to have a pretty good savings built up before I do that. In your opinion, is it better to build my savings and just continue to pay $300/mo on my car? Or is it better to put that extra money towards paying off the car, and just continue to put $50 every two weeks in savings? I want to do something worthwhile with that money, and I can't decide which is the smarter decision.