Grumpyre

u/Grumpyre



r/personalfinance•

I have heard that you should always pay off your highest interest rate loans first when trying to pay them off completely.

Debt: ~10k in student loans 2.5% interest ~ 2,300$ car loan. 248/mo payment. 2.9% interest ~ 8k credit card balance. 10% interest

I have been paying off the credit card with more than minimum payments, but I am worried my job is going away soon.... As in, contract closed/laid off.

If that happens, it would be nice to not have a car payment if I am out of work.

Would it be best to keep paying off the CC in the hopes that a lower payment would help if my job goes away? Or pay off the car with a lump sum so that I can use the car payment money to dump onto t

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