r/debtfree • • 20h ago

Pay off car? Or student loans?

9 Upvotes

Hey y’all!

I’m in the process of paying down all my debts and I wanted to get some advice regarding the final ~$20k. I have been aggressively paying down my student loans over the past two years and have paid off approximately $50k. I have about $13,000 left. I make about $100,000 a year and I rent with a partner who pays his half of our expenses. We recently found out that I am pregnant and I’m trying to make the best financial decisions that I can so that we can save a little money before the baby comes next summer!

Car Loan: $8162.70 (4.9%)
Monthly payment: $388, until Jun 2028

Fed Loan 1: $3974.02 (1.75%)
Fed Loan 2: $5057.89 (1.75%)
Fed Loan 3: $2184.22 (2.73%)
Fed Loan 4: $2731.52 (2.73%)
Monthly: ~$185

I have budgeted out another $13,500 over the course of the next five months to pay off my student loans. I was taking advantage of the interest rate reduction. But now that my loans remaining have an interest rate lower than my car, I wanted to know if I should just be paying off my car first?

Thanks in advance!


r/debtfree • • 18h ago

Less than 1300 to go

109 Upvotes

I was in bad cc debt for months, most card 10-20$ over the limit.
I’m happy to announce my cc debt has gone from 1980$ to 1250 in ONE month. Here’s what’s left:

  1. 925
  2. 287
  3. 43

The third card i paid 244$ towards today so that’s why it’s so small. When i get paid again I’ll destroy the last 2 cards.