Submitted by glamourtoken t3_122sl9k in personalfinance
Hi everyone,
My mother had to borrow 10000 from my cousin a while back to pay for her medical bills as she recently went through treatment for her cancer. A couple days ago, she had asked if I could help out with repaying my cousin as her and my father are struggling a bit financially.
I would do anything for my parents, so I want to make sure I know all of my options. Any bit of help would be greatly appreciated!
I'm currently 23 working in software and I pull in about 5000 a month after taxes and health insurance. I have 145k in student loan debt which I'm planning to start paying off whenever the final decision regarding that comes out. After the student loans, rent, car payments, food, gas, and utilities, I have around 600 left over per month.
Rent is currently the biggest expense coming in at 1500 a month. I'm planning to move within the next couple months to give myself more breathing room.
Is a personal loan the best option for me?
EDIT: I figured it would be best if I shared my monthly budget
Rent: 1515 Student loan payments: 1300 Food: 600 Car: 400 Gas: 150 Car insurance: 200 Utilities: 160 Misc fees: 50