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Two down, two to go. Which one to pay off now?
Mar-tan
Posts: 45 Forumite
Hello everyone,
I have been getting on well with getting shot of my debts i have cleared one 3k loan and on payday this month i will pay off another (flexi loan for 2k). I will then have two debts left, a nationwide loan which currentlly stands at £2844 (was 5k) and a 2k overdraft.
My question is this, which should i aim to pay off first as i have to have a goal to aim at to keep me motivated!
The nationwide loan has the highest intrest, but i can afford to pay the repayments while i work away at the overdraft - something i would really like to get rid of!
What do you rekon?
I have been getting on well with getting shot of my debts i have cleared one 3k loan and on payday this month i will pay off another (flexi loan for 2k). I will then have two debts left, a nationwide loan which currentlly stands at £2844 (was 5k) and a 2k overdraft.
My question is this, which should i aim to pay off first as i have to have a goal to aim at to keep me motivated!
The nationwide loan has the highest intrest, but i can afford to pay the repayments while i work away at the overdraft - something i would really like to get rid of!
What do you rekon?
On the long haul for a house deposit!
0
Comments
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Pay off whichever of the two has the highest interest rate, this will save you a few quid in interestLast Cigarette 24/6/090
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Highest interest
I know it's tempting to pay off the OD first (it was actually the first we both paid off back in the day) but logic dictates to go with the highest APR DFW Nerd #025DFW no more! Officially debt free 2017 - now joining the MFW's!
My DFW Diary - blah- mildly funny stuff about my journey0
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