POSTED BY January 26, 2014 10:54 pm COMMENTS (6)ON
hi am a software proffessional with 50k per month salary. I have three loans
Car loan 8813
Personal loans 8262 and 7750
Loans are approx 25k and monthly expenses are 20000. Till now i got no own house, no health insurance or term insurance, no emergency fund saving. …. Nothing 🙁
In march 2014 one personal loan 8262 one is closing, i am thinking to pay off that amount in car loan.. Car loan will be closed in may 2015, if i pay more for car loan then it can finish off in atleast nov 2014. That way ill be free with 16 k from nov onwards and can do some investments. Is my thinking ok or do i have to build some fund from march instead of prepaying car loan.
Also am not bankrupted is because my wife earns 13k and she did some rd and we have 50k in cash parked in her savings account. By the way i am 30 years old.