Where to start? Debt free journey
Hi y’all, long story short, I was young dumb and broke and wracked up $38,500 in debt. I am now in a place where I can start paying down this debt. I will be getting a 7800 tax refund and I am looking to strategically pay off debt with most of it. I do not have anything in savings, so I was hoping to keep at least some of it to at least have in case I need something.
Where would be the best place to start? I have looked into snowballing vs avalanche, and getting rid of the 64.79% loan first (I know.. I know… again I was stupid and desperate, no need to reiterate), but that wouldn’t leave much to pay other debts and add to savings.
All the credit cards have been cut up and I definitely would not be getting myself back into this situation again, especially now seeing how much I would be able to save if I didn’t have these stupid debts.
Any insight of where to start is greatly appreciated!
Hi y’all, long story short, I was young dumb and broke and wracked up $38,500 in debt. I am now in a place where I can start paying down this debt. I will be getting a 7800 tax refund and I am looking to strategically pay off debt with most of it. I do not have anything in savings, so I was hoping to keep at least some of it to at least have in case I need something.
Where would be the best place to start? I have looked into snowballing vs avalanche, and getting rid of the 64.79% loan first (I know.. I know… again I was stupid and desperate, no need to reiterate), but that wouldn’t leave much to pay other debts and add to savings.
All the credit cards have been cut up and I definitely would not be getting myself back into this situation again, especially now seeing how much I would be able to save if I didn’t have these stupid debts.
Any insight of where to start is greatly appreciated!