Jul 25 2017, 10:49 AM
QUOTE(Subcrevv90 @ Jul 24 2017, 03:52 PM)
Net income : SGD 2050
Monthly spending below:-
House Rental : SGD 600
Mobile : SGD 20
Transportation (Bus+MRT) : SGD130
Parents : SGD 100
Food : SGD 400
Entertainment & Travel : SGD 200
Savings : SGD 300
Balance : SGD 400
I have cc outstanding and other debts:
1) CC : RM5500 (SGD1850)
2) Friend : SGD 450
Can you guys please advise on what should I do and the funds allocation for debts repayment?
Hi, can you tell us what did you use your credit card for? Did you use it for any daily expenses that is not listed in your monthly spending? Example groceries. If yes then your calculation is not accurate anymore.Monthly spending below:-
House Rental : SGD 600
Mobile : SGD 20
Transportation (Bus+MRT) : SGD130
Parents : SGD 100
Food : SGD 400
Entertainment & Travel : SGD 200
Savings : SGD 300
Balance : SGD 400
I have cc outstanding and other debts:
1) CC : RM5500 (SGD1850)
2) Friend : SGD 450
Can you guys please advise on what should I do and the funds allocation for debts repayment?
IMO, should settle your debts first before you have savings. You put 300 into savings but yet you owe 1850 CC debts. Even if your savings generate interest, I highly doubt it could beat your CC interest.
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