Although I make pretty good money, my monthly take home is not quite enough to cover all my fixed expenses (mortgage/HOA, school loans, car payments, etc.). This leaves me in debt every month by about $400. As a result, over the last few years, I’ve racked up about $20k in credit card debt split pretty evenly between two cards. Fortunately, I’m able to make quarterly incentivized bonuses that bring me back into the black, with extra money that I can use to work toward paying down my debt. My question is, since my bonuses come in quarterly, am I better off paying a lump sum in the first month of the quarter, and just paying the minimum payments for the remaining two months (thereby also requiring me to use my credit cards to cover my expenses, and eating in to the debt that I just repaid), or would it be better to split my bonus up and repay even amounts throughout the three months of the quarter?
Submitted January 09, 2019 at 03:21AM by goddamnit-mr-noodle http://bit.ly/2CXY5qz
