Moving into a new place this weekend - having moved to a new part of the country about 7 months ago I'm finally settling in and very relieved.
Thinking more seriously about budget and did a rough cut of my net income vs expenses last night. Considering whether I should put all my monthly disposable income into paying off debts or putting it away to pad my bank account as I do not have any "fuck you" money saved up. I have some savings, but not a comfortable amount.
A have 3 credit accounts with a balance, two of which can be gotten rid of relatively quickly.
My credit accounts are:
Auto Loan - remaining balance = $18,000 @ 5.74%
Unsecured Loan - remaining balance = $2,300 @ 9.09%
Credit Card - remaining balance = $5,000 @ 16.15%
Basic finances tell me knocking off the smallest account first is the way to go, then I can add the extra savings onto paying off the next largest in line - but the credit card is high APR and it might may more sense to focus on paying that off as it will end up costing me more in the long run the longer it holds a balance.
What do you recommend?
Thinking more seriously about budget and did a rough cut of my net income vs expenses last night. Considering whether I should put all my monthly disposable income into paying off debts or putting it away to pad my bank account as I do not have any "fuck you" money saved up. I have some savings, but not a comfortable amount.
A have 3 credit accounts with a balance, two of which can be gotten rid of relatively quickly.
My credit accounts are:
Auto Loan - remaining balance = $18,000 @ 5.74%
Unsecured Loan - remaining balance = $2,300 @ 9.09%
Credit Card - remaining balance = $5,000 @ 16.15%
Basic finances tell me knocking off the smallest account first is the way to go, then I can add the extra savings onto paying off the next largest in line - but the credit card is high APR and it might may more sense to focus on paying that off as it will end up costing me more in the long run the longer it holds a balance.
What do you recommend?