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Wipe out the Discover, Buckle, and "Bank" loans immediately. Those interest rates are way higher than what you would expect to receive from the stock market. This is $3,883. I'm guessing from all the debt that she has no emergency fund. Figure out how much cash she would need to survive for 6 months and put it in an online savings account (Discover is great). I'll estimate 6 x $1,500 = $9,000. That's a total of $12,883, leaving her with $14,117. I don't know how to advise her on what to do with this because I am unsure what sort of short term savings goals she has. I'm guessing she needs to work on budgeting. Her car loan indicates she bought too expensive a car.
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Sep 25, 2014 19:07
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| # ¿ May 21, 2024 15:24 |
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