I need some serious advice about how best to allocate
I am in a lot of debt. Judge away. Here is my dirty laundry:
- Fora Credit: $5500 (payment $150 biweekly)
- Fairstone: $4700 (payment $413 monthly)
- Amex: $10,000 (payment $250 monthly, minimum only)
- Easy Financial: $15,000 (payment $247 biweekly)
- Student LOC: $1500 monthly payment ($115K owing over 10 years)
- Government student loans: $400 per month
- Rent: $2400
- Transportation costs: $0.
- Utilities including internet and cellphone: $300
- Groceries (me plus unemployed spouse): $800 per month
Income: $125,000 per year - recent raise before tax.
What I need advice on: Bank has extended to me a $10K LOC. Where should I use to maximize my monthly savings and supercharge repayments.
Help.
Posted Mar 12, 2025, 7:57 PM UTC
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