How to make the most of a windfall and handle my last bits of debt

redux

The monthly payments of everything together sound like £600 a month, so it's foreseeable that in a year's time you'll have been able to clear everything, and then have a few hundred a month to rebuild savings.

So although its a target to have a few thousand in savings, as said above there is no point borrowing to do that too soon.

I'd say pay off both loans, at least, and perhaps more. See if you can apply for a balance transfer card offer. If that works clear the whole lot. Keep the existing cards as your emergency cover for the time being.

enthusiasticsaver

Out of the 2 options I would clear the GEORGE Banco loan and credit cards and overpay the lloyds loan by the £300 you will save. After your rental is sorted do a soft search for a 0% money transfer card to clear the lloyds loan. It should be cleared by end of year if you are paying £600 per month.

enjoyyourshoes

As above good advice has pointed you in paying off the debts with savings leaving you with £1.5 K at 19%.

Either :-

1. Pay this off with all of your spare cash (more than the £600 currently used to support the debts). Currently it will take 3 months or so to rid you of this , if you increase payments to £774 you should do it in 2.

2. Convert the £1500 to lowest 0% interest and 0% transfer card you can find, then pay off monthly so it zero ny end off free period.

Then start SAVING:-

Some super regular savers out there still and at £600 pm going into a 6% you can earn over £196 in interest in first year and have a pot of £7400 to boot.

Also look into the lifetime ISA if buying house

Also look at investing through a S&s ISA

loads to consider one you are debt free in 2 months !!@

Then start savings habit benefiting from compound interest instead of being a slave to it