Since I’m putting that much a month into a savings account that is for debt payoff I’ll have $4000ish by the end of August. Should I keep paying minimum payments and save for a big payoff or empty the savings account and put that money monthly towards debt freedom? I’m easily making the monthly payments on all of these and for anyone asking no I’m not racking up more debt and I’ve closed the door for any more debt to happen at the moment. this is all the personal debt I am seeking to pay off, career change, relocating, and divorce are huge reason for these debts
Debt:
Credit Card -$8900 Bank Loan -$13000 Car Loan -$15000
When I have these three debts payed off it will allow an extra $900 a month of usable income to be available. I want to payoff in the order the debts are listed also, Credit Card, Bank Loan, and lastly Car Loan (payoff worst to best interest rate)
When I see my savings account keep growing knowing it’s for debt freedom it encourages me to keep focused and disciplined, but maybe it’s not the best way?
Submitted July 29, 2018 at 09:36AM by SundanceK1Dx https://ift.tt/2AjY153
