New York
Hello and thank you in advance.
I have 75K in savings and very little income at the moment due to a loss of my business. I am currently rebuilding my business and need about 6 months to do so.
The only revolving debt I have is 3600.00 on one credit card. I had 100K but I chose to pay off all debts and invest some money into new business equipment. I have a 1600.00 a month HELOC loan. Cell Phone, car insurance, home owners, utilities (except heating fuel) have all been paid (except cable) several months in advance. I am also putting my home up for sale in July but note I have very little equity. I'll make 12-15kK if Im lucky on the home.
I would like to pay off that credit card and Invest another 1600.00 into another piece of equipment I may need for my business and take a much needed vacation.
What is the best budgeting approach here? My thought was I can pay the credit card and budget 15k for the next 6 months in anticipation of getting that back on the back end of the home sale. I can also set aside 2-3k for a vacation.
Any thoughts? Advice?
Submitted March 01, 2018 at 10:40AM by fingers714 http://ift.tt/2Fhd68Y
