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Pay off the furniture, I can guarantee that it is an introductory 0% that adds all the interest back in after 18 months or so. Someone that has this much lovely debt is gonna gently caress up and end up paying 5k for a 1500 couch. After the last day of the introductory period the amount owed will probably double. Don't risk it. Also I would disagree with making a large E fund (At most I would recommend 3k). This person doesn't seem to have budgeting as a priority and will just see that money as something she can burn (even if it is set up as a E fund), and she will increase her spending until its gone or more. Just pay down all the debt she can starting with the furniture, then highest interest first. She could consider putting some of it into a roth IRA as well. Save 1.5k and let her blow it (important so you can convince her to do this.) Encourage her to start budgeting so she can get out of debt and live within her means.
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Sep 28, 2014 17:17
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| # ¿ May 22, 2024 01:33 |
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