So I'm paying off debt now that I've got enough savings that any little breeze isn't going to destroy me but I'm not sure which to start with. I understand the "snowball" method vs the "avalanche" and discussed it with my husband and we have decided avalanche with it joint finances get rid of our individual debts.
The two I'm debating between are
Personal loan - 9700 for 16.4% apr
Or
Auto loan - 14700 for 9.2% apr but I live in state of Michigan with notoriously high car insurance and I pay 3200 a year currently in insurance though I had an accident in 2017 I'm waiting to clear my record.
In trying to determine if I should pay higher interest or car to try to drop from full coverage insurance sooner.
Other debts include
5000 credit card - 12%
2000 credit card - 15%
800 student loan wife -6%
16000 student loans husband - he's out not sure interest but I think around 5%
5000 personal loan - 9%
7000 medical debt - 0%
I think that's it - we don't need more 😭😭
Submitted October 14, 2018 at 02:30PM by roconfused https://ift.tt/2EjGGLB
