I need a debt payoff plan. Which cards would you payoff first? Hi everyone, I went through a really bad depression and made some really stupid financial decisions. I am trying to get back on track and figure out how to get out of this mess!! I’m currently going thru a program (usda) to get a home and I need to get my DTI down (debt payments need to be about $600 or less per month) My salary is $52k, Rent $1…

Should I payoff my debt? Need a sounding board. I’m(33) purchasing a house at the end of January. Sales Price: $409,450. Loan will be 368,505. We managed to get the following as a 2/1 buy down on the rates: 1st year is 3.875% interest 2nd year is 4.875% interest. 3-30 is 5.875% interest. I’m planning on selling my existing house. Hoping to get at least 300k for it. H…

To payoff auto loan or not? 2.54% interest rate, about 18k left to go on my vehicle. Payment > 600/mo. Working on a claim with the VA, if successful there will likely be enough backpay to knock out this loan. Is this a wise move though? Considering that investing the money instead could yield > 4%. Although it does free up that payment amount from my budget which could the…

Taking HELOC to Payoff Debt As the title suggests, my wife and I are trying to brainstorm creative options to paying off our bad debt. We have about 80k I’d like to consolidate and payoff and was weighing the options. One of which being a HELOC with the equity in our home. Anyone else done this or have thoughts? submitted by /u/ShakeandBake428

Mortgage payoff question I plan to pay off my mortgage in full. My payment is due on the first of every month. Should I pay it off at the beginning of the month or in the last week to minimize interest? submitted by /u/Creative-Sea955

Is my plan for debt payoff sound? Hi all, I have a debt payoff strategy in place and would love to hear some outside opinions. Here’s my situation. Income: recently received a raise to $54k/yr salary. I expect my net to be $3,198/mo or $1,599 biweekly. I have a 2% salary bonus and profit sharing every six months. I just had my evaluation for mid year. Wasn’t so good on the busin…

Can I payoff my loan via principal only payment? I have a 2020 Toyota Camry SE with 8,416.53 remaining as the payoff. I have my regular payment 418.16 due 7/9 but wanted to know if I can do the principal only payment for 8,416.35 online right now to avoid making the regular monthly payment? Im not excited about mailing in the cashier’s check express because last time I mailed a payoff, it got …

Payoff second home or invest or other Would you pay off the beach house with the CD/Treasury money??? Any other creative ideas? I pondering what to do. My wife works full time and I am self employed. We have saved every penny. My wife is 48 and will have a retirement from her teaching career. It is a crappy plan, but it is something. I am self employed and do my own retirement plann…

Should I payoff my vehicles before buying a house? For context I am looking at buying a house this year around October/November that will cost me around $2,500-$2,900/month with all bills included. I currently own two cars. Car A costs me $480/ month and I have around $10,000 left to payoff. Car B costs me $665/month and I have around $20,000 left to payoff. I have the money to payoff Car A righ…

Balance transfer or payoff cc? So I have a CC with a about a $6,500 balance on 0% until the end of the month. I have the funds to pay this off no problem in a money market account earning 5.17 percent yield at the moment. I thought about transferring this balance to another 0% 12 months card with a 3 percent transfer fee. Should I payoff the card I have now or keep that money…

Payoff mortgage or invest? Over the next five years I will get a decent amount of vested RSUs that is enough (after tax) to pay off my mortgage which is $350k at 3.65%. I recent had twins and my partner will stay home so we’ll be down to one income. Our house is really small so we will need to sell it since I want more space for our twins but we’re okay living here for u…

Mortgage principal payoff I want to pay this off ASAP (peace of mind, flexibility w/career, etc). 38 yo, Gross $100k, invest 15% w/$100k in retirement. House has $63k left at 2.25%. I have $13k in a CD at 4.75% & another $13k for sinking funds at 4.25%. Should I be putting extra payments directly to principal, or stock piling it Ally and then make a lump sum payment? I t…

Payoff Student loans I (28M) make 65K a year and have 20K in student loan debt. I have enough to pay off the whole lumpsum from making money in the market over the last couple years but not quite sure if that’s the right move. Average loan is 4.3%. Currently looking for houses and want to make sure I have enough for a down payment. Looked into the Save plan says it …

Would you Payoff your student loan in full in my situation? Hello Everybody, I just wanted to gather everyone’s input. I have $12,500 remaining in student loans at an interest rate of 4.5%. I can settle this balance and still maintain 6 months’ worth of emergency funds in case of unforeseen circumstances. However, I’m pondering whether it’s truly beneficial to pay it off ahead of schedule. Upon conductin…

Sell Crypto to Payoff Debt? I’ve been carrying ~30k debt with ~4% interest for the past 3 years and I’ve also been holding ~30k of Crypto that is 10k underwater. If I sell the 30k of crypto to payoff the 30k loan, would I be able to deduct 10k worth of loses in the next 4 years from any gains? How would you think about this decision? What are the benefits or downsides? The…

Skipping annual vacation to payoff student debt? Not 100% if this fits the sub, maybe more of a feelings than finance question, but a bit of both. ​ I’m 25 have $75,000 in student loans (mostly private). I make $100,000 and live at home with my parents, but I do pay them rent and all other living expenses for myself and my dog. I really want to take this year to buckle down and payoff my debt,…