Question

If you were getting a lump sum of 8000$ what would you do ? Pay Line of credit - $4844. 00, Credit card - $6000, or Student Loan - $10, 150 first ? Interest on my cc is 19%. Unsure of the other two. Will put $1000 in an emergency fund. Other $2000 is spoken for.  

Answer 1

Pay off line of credit, put $3, 156 to credit card, and you just eliminated half of that debt

Answer 2

I would pay the bill with the highest interest rate first.  

Answer 3

Smallest first. Take that payment plus what you normally pay and put towards CC.  

Answer 4

I’d do line of credit paid off and the rest to credit card.  

Answer 5

I’d say if you can pay something off in full, do it. Then snowball the rest.  

Answer 6

Highest interest rate 1st! You’re paying ~$100/month in interest on that CC.