#debts

My mother just passed away unexpectedly and left me everything. Can I mortgage the house once it’s in my name to pay her other debts?

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My mother just passed away unexpectedly and left me everything. Can I mortgage the house once it’s in my name to pay her other debts? So my mother (78) unexpectedly passed away over the weekend. I (38) had been living with her for the last several years as her caregiver, but her death was not related to the reasons I had been caring for her. When we got the house, we paid cash for it from the sale of our old home, so there wasn’t a traditional mortgage payment or anything. She…

Reddit Personal Finance 782 2025-02-20

Paying off debts super fast versus contributing into 401k, HSA, and FSA

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Paying off debts super fast versus contributing into 401k, HSA, and FSA I am 27. I had a full-time job out of undergrad, but stopped working full-time when I pursued grad school. This is my first full-time job out of grad school. I have about $47.5k in student loan debt, a mix of 3.5-6% interest rate (my biggest loan is $20,000 at 6%, smallest loan is $2,000 at 3.5%) and about $1.5k in credit card debt. I live in a …

Reddit Personal Finance 661 2025-02-20

[Midwest, USA] What would you tackle first – debts, taxes, or a house?

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What would you tackle first – debts, taxes, or a house? Here is a spreadsheet with our household income, debts, etc We’re in Midwest USA, mid-30’s. We don’t have any children, roommates, etc. We have $25K in liquid cash at the moment. No stocks, retirement accounts, or other funds we can draw from. Our parents are riding the poverty line, so we don’t have any family to borrow from either. We owe $2…

Reddit Personal Finance 572 2025-02-11

Question about using inheritance/windfall to pay off debts

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Question about using inheritance/windfall to pay off debts My father was a hard working and shrewd businessman who I loved very much. So the slow deteriorating from Parkinson’s was tough on me the last few years, but now that the dust has settled as is the estate, I just want to make sure I am making prudent choices. So basically my plan is to methodically eliminate all debt in this household. Credit C…

Reddit Personal Finance 957 2025-02-03

Struck with debts. Is there a way out?

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Struck with debts. Is there a way out? I really need to vent this out. Been keeping it to myself and suffering a lot mentally. I am 25M and a MS Graduate from a US university. I am from India and came to US on a student visa. I took a $55,000 loan to pursue my masters degree and successfully completed the degree. Working oncampus i was able to make few payments towards the loan and b…

Reddit Personal Finance 1.1k 2025-01-08

Selling stock to pay debts and buy a house?

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Selling stock to pay debts and buy a house? My spouse was gifted/bought stock at work which shot up in value SIGNIFICANTLY. We now have about 320K. I know that while his company has done well, having it all in one stock is risky and we should really sell and reinvest into something more stable. But also, we hope to buy a house this year and use some of the money as a down payment. We also…

Reddit Personal Finance 1.1k 2025-01-05

Starting to pay down on my debts aggressively. Which loan should I start repaying ASAP?

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Starting to pay down on my debts aggressively. Which loan should I start repaying ASAP? Title is pretty self explanatory. Clearly the answer is all of them and be debt-free but I’m wondering if there is a benefit or smarter way to go about repaying these debts. I currently have ~$3,100 in credit card debt and ~$7,500 in student loans. I don’t make great money (40k/yearly) and I’m not getting student loan forgiveness (Business Major…

Reddit Personal Finance 508 2024-12-23

Recovering from Financial Debts and things I can do to have an income besides my salary

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Recovering from Financial Debts and things I can do to have an income besides my salary Hi, I am a 30-year-old male who aspires to have good financial standing here in the Philippines. But shit happens, you know. I made a series of bad financial decisions, gambled some money away, and got liquidated in trading (crypto). Now I am trying to cure my impulsiveness and want to transition to doing things the right way. Currently, I have …

Reddit Personal Finance 491 2024-11-29

Debts are piling up and I don’t know what to do.

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Debts are piling up and I don’t know what to do. Usually been pretty good bout staying outta debt, but this past year became a real shitshow and there don’t seem like a way forward. I was in a car accident back in May and the rig was totaled, but the bank who managed the loan refused to include gap coverage for reasons I still don’t get. Borrowed money to pay the difference and got a new rig, …

Reddit Personal Finance 482 2024-11-18

Pay debts off or keep stocks for long-term?

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Pay debts off or keep stocks for long-term? Would like to get some opinions on the following situation. Graduated a few years ago and here is my current situation: Currently, I have 19k in stocks and 5k in savings. I owe 8k in credit card debt (“student loan”) and 10k to my father (4 year loan, no interest. Putting around 250 each month aside for this) I also just bought a condo, so 25…

Reddit Personal Finance 929 2024-11-07

No Debts 30k in savings. How to invest?

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No Debts 30k in savings. How to invest? Hello everyone. 30yo mom of two divorced, here. I sold my house and currently rent with my two kiddos (weekends with dad). I got $100K in earnings which I used to pay every single debt I had, paid off my suv, paid off my student loans, all credit card debt and took a vacation. I have $30k left and I want to invest it but ídem where to start. I’…

Reddit Personal Finance 1.0k 2024-11-04

Help Needed: Advice on Managing Debts

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Help Needed: Advice on Managing Debts So a bit of background. I’m from Bangladesh and all amounts mentioned in this post is in BDT which is roughly 1USD=120BDT I have a total loan of 1.4 Million. Most of the loan was my mom’s and I have a 150K loan for higher education. Right now my monthly income is around 20kish after paying the monthly installments. In terms of property, I have a…

Reddit Personal Finance 1.1k 2024-11-04

Should I sell my Apple RSUs to pay off student debts?

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Should I sell my Apple RSUs to pay off student debts? I joined Apple in June 2023 after graduating from college. I have a student loan of $24,000 with a 12% APR. I have a few RSUs vesting this year. Should I sell those to pay off my student debt, or should I keep the RSUs? submitted by /u/Kooky_Beautiful_3074

Reddit Personal Finance 389 2024-07-24

Pay debts or build E-Fund

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Pay debts or build E-Fund I’ve been struggling to manage my life for quite some time and decided to make some serious changes when things went south for me last September. I’m a 35 year old male (soon to be 36) and live alone in my own home. My life hasn’t been a compilation of very wise financial choices but I’m sacrificing and want to begin moving in the right directio…

Reddit Personal Finance 1.0k 2024-07-22

Medical debts, collections

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Medical debts, collections Hi everyone. I have about $8,500 worth of medical debts- $3,800 on a care credit card and the rest are collections from 2 expensive hospital visits and some small doctors visit costs. I have a medical condition that is not covered by insurance so I had no choice but to go into debt to deal with it. My credit right now is in the high 500s (droppe…

Reddit Personal Finance 1.2k 2024-06-30

Taking out a bank loan to pay off multiple debts?

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Taking out a bank loan to pay off multiple debts? My fiancee and I are about $8300 in debt from various things. Some interest rates are rather high interest rates (lowest is 28%, highest is 36%). I am approved for a $9000 loan from my credit union, 48 months, $253 a month at 15.49%. I make $52,1000/yr and she makes $45,500. Take home is around $1500 for me every two weeks and $1300ish for her e…

Reddit Personal Finance 829 2024-06-24