topher1181
Confused about dryer sheets
- Joined
- Jun 30, 2006
- Messages
- 1
Hi everyone. I found this message board recently, and I've learned a lot from reading here. I was hoping I could get some advice for a question I have.
I currently have $10,000 in savings that I am using for debt repayment. However, I have a couple debts I need to pay off, and I'm wondering which to try to pay off first.
My first debt is a 401k loan. I owe $7,000. The interest rate is 6.25%.
My second debt is a personal student loan. I owe about $11,000 at an 11.5% interest rate. Another month or two of saving should allow me to pay this off.
What would you pay off first and why?
Chris
I currently have $10,000 in savings that I am using for debt repayment. However, I have a couple debts I need to pay off, and I'm wondering which to try to pay off first.
My first debt is a 401k loan. I owe $7,000. The interest rate is 6.25%.
My second debt is a personal student loan. I owe about $11,000 at an 11.5% interest rate. Another month or two of saving should allow me to pay this off.
What would you pay off first and why?
Chris