Thursday, December 3, 2015

Where should I allocate my funds this month?


Hi there,

I'm looking for basic advice as to where I should allocate my funds for a few expenses.

I will getting paid about $5,750 - $6,000 this paycheck tomorrow and below are my outstanding expenses.

1. $2,800 credit card debt
2. $1,000 down payment on upcoming mortgage (signing will take place Feb 15th, 2016. Full amount is $14,000 and is fully paid after this $1,000)
3. $300 balance for cellphone plan
4. $2,000 (legal fees for lawyer - not due until March 1st, 2016)
5. $300 for Christmas
6. $120/mth auto insurance

I also have $1,500 in my savings account available.

I moved back to my parents to live rent-free a couple months ago as I purchased a home and I don't take possession until March 2015.

What do you recommend I do? Pay it all now? Or chizzle away until March? My goal is to have 3-4 months of monthly expenses saved before I move in.

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