So, if we don't have to spend any money moving (fingers crossed), or can just pull it out of our budget, then we'll have $5649.44 to put towards our debt snowball (we just learned how much we're getting back in our tax return, yay!) That number is from what we have now and our tax return.
So, we've been playing with how to use it. We could pay off Phil's last student loan, the hospital bill, and half of my lowest student loan... or we could pay off ALMOST all of the credit card with $591.64 left on it. Plus, its at 15.99% interest, which would save a lot of money because of interest over time. Either way, it would put the same amount of money to roll into our debt snowball, $155 (credit card) or $50 Phil's student loan plus $100 hospital bill. Then of course, the CC would be our lowest debt, and we'd hopefully be able to knock it out in one month, and knock out the other two pretty quickly.
Any thoughts are always appreciated and welcome.
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I vote for knocking out the majority of the credit card debt! Making it the smallest will feel good AND you won't have to continue with such high interest rates!
ReplyDeleteEmily