As the title says - my grandmother is in poor health so my folks have taken over her estate and finances. She had a fair amount saved away so in order to make something with her taxes easier or cheaper or something (I’m not positive the exact reason) each of the grandkids is getting a $15,000 gift to put towards debt, savings, etc.
I live in a downstairs apartment with my gf, and the house is owned by her mom so rent is pretty cheap. My expenses are pretty minimal - health insurance, groceries, pet supplies, student loans, car insurance, and incidental stuff. I currently only make about $1100 a month and only have a thousand in savings.
I have two student loans - one is about $6000 at 4% interest and one is about $3500 at 4.4% interest.
Should I pay off both loans and save the rest? Should I pay off the bigger one, put the rest in savings and pay off the smaller loan faster without the added expense of the bigger one?
Is there another option I’m missing?
Thanks for the advice!
Submitted December 14, 2018 at 10:21PM by justmerriwether https://ift.tt/2QzpKqe
