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Ask Farnoosh about money, work, life, or a recent guest below and she'll do her best to answer your question during an upcoming Friday episode on So Money. Record a message below or type in your question.
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Ask Farnoosh, Farnoosh Torabi
Do you think leasing a car ever makes financial sense? How can we cut costs on our wedding? How do we prioritize our saving and financial planning? Lots of smart questions this week, as usual. Farnoosh and co-host Randi Levin, a transitional life strategist, offer their best advice.
Randi Levin CPC, founder & CEO, Randi Levin Coaching – is a nationally recognized transitional life strategist, Fortune 500 keynote, author, and reinvention expert. Coaching is Randi’s own mid-life reinvention. Randi Levin Coaching supports women in becoming legends in their own lives! She believes that in order to make successful withdrawals from the “bank of life” you must first be able to make deposits into the “bank of self.” She is a catalyst toward a shift in perspectives in regard to fear, growth, purpose and manifesting success in the current moment.
Follow Randi on Instagram, Facebook and Linkedin.  

This week’s questions:

Haley left a voicemail on Speakpipe:
I’m calling you from salt lake city Utah. Just graduated college but am leaving with $14,000 in student loan debt. I have about $5,000 that was left over sitting in my bank account and I’m ready to put that money back towards my loan.

Question – I am in the grace period until December. Can I put that money towards the principal now or do I need to wait until December when grace period ends? What should I do with that 5k?

Anonymous on Speakpipe:
My partner and I have an awesome 5 year old and we both work for non-profits and live in the SF bay area. Now that our son is finally old enough o be in public school we have $ for saving and want to prioritize. We know we need more for retirement, down payment on a home, would love to save for our son’s education and also have some college loans (low interest). Where do we start? What is best strategy for saving for a down payment? Index fund?

Jared on Speakpipe
My fiancé and I are getting married in 1 year. Saved over 6 months. Come up with a budget of $45,000 – own contributions and our families. Getting our proposal and estimates already surpassed our budget, other than cutting down our guest list how can we save? I am determined to not have any debt after this wedding.

“M” on Instagram
My husband and I have 2 rentals and 1 residence. We are in the process of currently selling our residence and plan on buying a new place. We would like your opinion on whether it’s a good idea to sell one of the rentals to get more money down for our new home purchase. We will likely get about $40k from our residence. We want to buy in the $350-$400k price range for our new home. We currently owe $70k on each rental and make about $300-$400/month from the rentals.

If we sell the rental we will get approximately $85k. In the alternative, we could sell one rental and pay down my student loans ($90k). Does it all sound like it may just be a wash and not make much of a difference regardless of what we do?

Ron on Instagram
Do you think leasing a car ever makes financial sense? My wife probably drives only 7,000 to 8,000 miles per year.

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