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Message
re: Financial guidance for a friend of mine
Posted on 12/16/17 at 7:05 pm to indytiger
Posted on 12/16/17 at 7:05 pm to indytiger
1. Pay off the credit card
2. Keep making payments on the student loans and the car. Being upside down on a car doesn't really matter if she keeps it. It's theoritical worth is irrelevant as long as she's not trying to sell it. 3. As more cash flow becomes available as the debts are paid off increase the retirement contributions. That can be through 401k, regular IRA, or Roth. That's a bridge she can cross when she gets there.
All in all she's not really in a terrible spot. Only real bad mark, imo, is the credit cards. Get that taken care of and she should be fine.
2. Keep making payments on the student loans and the car. Being upside down on a car doesn't really matter if she keeps it. It's theoritical worth is irrelevant as long as she's not trying to sell it. 3. As more cash flow becomes available as the debts are paid off increase the retirement contributions. That can be through 401k, regular IRA, or Roth. That's a bridge she can cross when she gets there.
All in all she's not really in a terrible spot. Only real bad mark, imo, is the credit cards. Get that taken care of and she should be fine.
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