We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Just deciding... which way round to pay these off....
Highlanddream
Posts: 177 Forumite
Will finish paying off a credit card in Oct and I am deciding which to pay off next, realise it doesn't really matter.
1750 on a 0% until April 27 credit card
8000 on a 5.9% loan. Ive 'paid' the interest on the loan already really, but understand it will affect the final figure. Approximately 28 months left.
Avalanche or snowball ?
I will be paying approximately 1000 a month off these two.
1750 on a 0% until April 27 credit card
8000 on a 5.9% loan. Ive 'paid' the interest on the loan already really, but understand it will affect the final figure. Approximately 28 months left.
Avalanche or snowball ?
I will be paying approximately 1000 a month off these two.
Sept 24 : £32000 Aug catch up - £11436
May 25 : £14000 Sept 25 - £10635
June 25 : £13000 Sep catch up - £10561
July 25 : £12000
Aug 25 : £11880
May 25 : £14000 Sept 25 - £10635
June 25 : £13000 Sep catch up - £10561
July 25 : £12000
Aug 25 : £11880
0
Comments
-
Settling the loan early should result in you paying less interest overall.
And always if one is attracting interest and one isn't then you should pay the one that is attracting interest first.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.8K Work, Benefits & Business
- 600.3K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards