Hello PF,
Trying to decide how my wife and I (both 23) should allocate our money, and am looking for some advice.
Monthly income: $6400 Rent: $2450 Utilities: around $500 Truck payment: $535 per month at 1.99% and about $19.5k left Car payment: $235 per month at 3.41% and just under $10k Investments (not a retirement account or anything): $26k, made ~17% over the last year, but obviously i don't expect to repeat this. Credit card debt: $9.5k at 11.41% Insurance: $180 Phone & internet: $300 Gas: $150 Student loans: $50k at varying interest rates, payments dont start for another 18 months. Food: $120/week
Additionally, not included in monthly income is $280 per month toward a Roth IRA valued near $20k
What I'm trying to figure out is, should i just use the investment accounts and pay off most of the vehicles as they are a large part of my monthly bills, should i keep the money where it is, or should i pay off the credit card and try to build my savings back up? Any advice is appreciated, thank you.
Edit: Additionally, my wife and I both have good credit scores (north of 750)
Submitted September 29, 2018 at 11:54PM by Mr_Smiley227 https://ift.tt/2RatoU7
