Pay off debt?

[Anonymous]

Yes, fixed.

I think I will just pay off the credit cards, then maybe accelerate the payoff of the cars. Bank the rest of the money.

[Anonymous]

Why don't you put the money towards your mortgage? This would give you a head start in building equity on that asset that you can tap into as a source of funds if you need cash to do something else. The interest on a home equity loan is tax deductible. You could use that to pay off your car and student loans and get some tax benefits from it.

[Anonymous]

You need a 6 month emergency fund. I can't believe this hasn't been posted already.

Once you've set aside your emergency fund, pay the debt with the highest interest rate.

I win!

[Anonymous]

Anonymous wrote:Yes, fixed.

I think I will just pay off the credit cards, then maybe accelerate the payoff of the cars. Bank the rest of the money.

Good plan