Submitted by YesImClueless t3_z92dmq in personalfinance
flamingo105 t1_iyeqmh8 wrote
it will all be in the wiki but yes, pay off that car loan with the money you've been given. It's the largest debt and highest interest. Use that $257 payment to build an e-fund of 1k-2k depending on your monthly bills. After that I would put the $257+ 161 to your personal loan, you should be able to knock it out it a 18 months or so. Continue to snowball and throw an extra bonuses or gifts at your current payoff target.
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YesImClueless OP t1_iyf2xov wrote
Thank you so much! I found the flowchart from the wiki earlier this morning and ended up working myself up by trying to figure out which method of paying down debt I should follow :( from everyone's comments it sounds like going by interest rate will be my best bet!!
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