What is your best method for paying off debt or budget suggestions? We don’t have a terrible amount but looking for suggestions since we just had significant pay increases. Credit Card:$12k 15% interest Cars:$70k 2% interest Mortgage:$200k 3% Income:$150k other expenses, Daycare:$2k/month Utilities:$600/month. We do like to eat out and vacation $10k in savings

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Pay off your credit cards first please.

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This shouldn’t even be a question

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1. Pay down your credit cards immediately (and get in the habit of paying them off every month so you don't carry a balance)

2. After that, set up an auto-transfer to your savings (e.g., if you were previously sending $1k/month to credit card payments, you can now redirect that $1k/month to your savings)

3. The interest on your home and vehicles are low enough that you don't necessarily need to pay those loans down aggressively, so whatever you have left can go to investments

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Credit cards and never carry a balance again. Any excess money, invest.

Sell the cars

Dude. What are you doing with your utilities to clock up $600/month?

Electric $250 Gas $100 Internet $100 Streaming Subscription $40 Trash $50 just as estimates. Sometimes higher sometimes lower

I’d tackle the credit card first. Wiping out that payment as soon as possible. Then the car loans, followed by the mortgage. Do you use any tools currently? Debt Payoff Planner can help you plan debt payoff if you’re unable to pay off the debts in a lump sum. You don’t have much, but it can create a target for you to work towards.

As for the rest, definitely use a budget tool whether a spreadsheet, something provided by your bank or an app. Get visibility into your spending. I’ve been testing out YNAB and find it really helpful.

Look into YNAB for budgeting

Next time you want to take on credit card debt ping me, 15% is a great return

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