I need some serious advice about how best to allocate

Budget

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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