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What do we pay first?
Staffie__2007
Posts: 9 Forumite
ok we have £1800 savings to use to pay some things off,
we have £770 a month to pay things, after mortgage etc etc.
Thank you
we have £770 a month to pay things, after mortgage etc etc.
- Loan - balance 6600, 40 payments left, have to pay 210
- CC 1 - B 920,
- CC2 - B 300,
- CC3 -B 120
- CC4 - B 3000
- Flexiloan - B2250, have to pay 130
- Catalogue 1 - B 300
- Catalogue 2 - B 1200
- Car - B 3500 (1100 saved for monthly payment til dec 08)
Thank you
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Comments
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In general the thing with the highest interest rate. I'm guessing catalogue's will be around 30% apr so i would go for them.MF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
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It depends on the interest rates of each of the loans/cards/catalogues. Basically pay off the highest interest rate borrowings first.Author of the first Stoozing FAQ on the Internet and Creator of the SOA & Snowball calculators at Lemonfool.co.uk0
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I would guess the 2 catalogues (if they have the highest APR's) and then the CC with the highest APR with the remaining £300 (or a chunk of it)."Stay Wonky":D
:j:jBecome Mrs Pepe 9 October 2012 :j:j0 -
The cataloues dont start til dec 08 to pay, so will save money to pay them by then, would it be wiser to pay as many little things as we can rather then one thing?0
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Then pay of CC 1-3 first and leave whats left in savings to pay CL 1 in december.Barclaycard 3800
Nothing to do but hibernate till spring
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Put it all into the snowball calculator at whatsthecost.com with the amount you can pay off, min amounts and apr and let it work it out for you
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