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Hey guys. Never asked for advice on here before but my boyfriend isn't any help and I have no one to ask other than him.
I'm getting a 1600 dollar tax return shortly, just waiting on it to direct deposit into my bank. I work an OK job and make about 11 bucks an hour or so. Work 40 hours a week. I have college loans that I have been putting off and about 1000 in debt through two credit cards hat I've been paying off. Originally I had planned on getting a car with the tax return as a down payment, so I could potentially get a different job as an electrician. However, with the debt I am in and the fact that as it stands I'm pretty much living paycheck to paycheck I thought it may be better to pay off the debt first completely with the return. I have no savings to speak of however.
My idea is this; put the return in a separate American Express serve account and pay off the 200 I owe on the one card, and pay out 200 every month of the remainder towards the other card so as to help build up credit score again. Then, every paycheck put 100 of my paycheck back into the serve account, to maintain a bit of some savings that I can eventually use as a car down payment. I currently do not have a car and have been using my boyfriend's or walking. Does this sound viable? I thought this also may help with my savings issue.
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>>18089649
Do not understand "put off college debt." If you are just ignoring it, it will bite you in the ass. They can and will do fucking wage garnishments!
Try to get the car loan. See what they say about your credit. You need a better job. Or a second job.
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>>18089677
My only concern about just jumping on a car loan is that then I would be adding more payments on top of the ones I have. I thought maybe it would be better to take some time to pay off the cards I have first, so that then I'll be able to take out the car loan after. I found out about a program that gives you free college for electrician work and a paying job right off the bat, so my goal was to jump on that because the pay is like 19 bucks an hour starting and goes up to like 35 by the time you're done. You school for a week then work for a week and you get paid the whole time. As for the college debt I do know that I need to get on it. I'm just awful at this stuff. I only have like 6 grand in college debt but still... It was only a year and I had to drop out.
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>>18089649
Pay off your debt, hit the higher interest and smaller sum stuff first. You should always be debt free or moving towards being debt free
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>>18089701
So do you think i should just pay off both cards in one fell swoop? Or do the payment thing like what I put in? I thought making payments helps credit score. Plus then I'd have some small savings for just in case too. Downside is a few more months of waiting for a car though.
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