paying down debt

[Anonymous]

Hello all,

I am wondering what some of you may do in my shoes.... I have a couple different types of debt here, not a whole lot but some that I would like to minimize before my vacation at the end of May if possible.

Personal loan 9% $1291 left

CC 0% @ $2600 until December 2020

Car loan 4% on a 2016 Malibu I just purchased in June 2019, $14.9k left. 7K miles at purchase with warranty that is about to expire. Which I will be keeping this car until it dies years down the road.

I am leaning towards the personal loan as it is the highest rate right now and I do have enough to just pay it off and get it out of the way, but then itll leave me with not really a whole lot saved until I can build it back up. I was also thinking of just paying myself when I can and put it into the account that I keep the saved money aside so when I get comfortable pay it off and then some on something else. Paying the personal loan would free up around $90/month that I can put towards the CC and just chug away at that and not worry about the car until those are paid.

Just wondering what some of you credit guru's would do or suggest. Score are around 712-730 across board, I just checked them via Experian and using their $1 promo for the other reports.

[M_Smart007]

I honestly do not think your debt is that bad. Good that you are aware of where it is.

Take in all the advice, and do what makes you sleep well at night.

[Anonymous]

Thanks lol. Yeah its not bad at all. Just some smaller things, would like to get them out of the way.

Im here to listen to the Guru's

[Chris679]

Here's what I would do:

Pay off the personal loan asap assuming the card is not maxed out so you could use it for emergencies.  For 0% intro rates I just divide the balance by how many months I have left and that's the payment each month.  Anything over that goes toward the car loan.  I would want to be 100% sure the CC balance is PIF by the time the intro rate is up so if there are any concerns about that I would pay that off quicker.  Of course you would continue to pay the min on all of them no matter what.