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  • FIRST POST
    KirstyO
    Opinions Please....extra income
    • #1
    • 9th Dec 12, 12:46 AM
    Opinions Please....extra income 9th Dec 12 at 12:46 AM
    Right, I've just finished paying off a small overdraft at 25 a month, and have managed to live without this very reasonably, so I'm thinking what would be most useful to do with this 25 a month now. I could:

    a) put it into my e-isa which has a very attractive interest rate, until such time as I have enough to offer f+f to my 4 outstanding creditors

    b) add it to my dmp payments (reducing dfd from 6 years to less than 4)


    c) manually snowball my debts in addition to my dmp (eg. i have a 130 argos card thats only getting 5 a month from DMP, but with cash injection each month could be gone in 5 months, then add it onto the highest priority debt after this)

    Your opinions would be most grateful. I know there is justification for all three options, but I'd like the one that will make my debt shrink the fastest!!!
    Debt free on 2nd January 2015
    House deposit - 8895.49/10000
    Holiday fund - 502.21/1000
    Emergency fund - 125.14/5000
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