*Update\* - I ended up Killing my personal Loan, Settled it with my 200K EF I had stashed up in Absa, And moved the left over 90K to my Flexi Reserve in the home lone bond, I am staying in\ So have about 119K Stashed as flexi , emergency fund in the Bond now, Follow up post will come with where i will be investing my free'd up money monthly.*
Looking for some advise, what everyone would suggest is the best way forward from here.
39 Years old, Currently employed full time and have about R500 Free every month... Not much to invest at the moment.
Car I am driving is fully paid off.
Debt:
I have Medical aid & Car / House insurance, and Sanlam RA rest of money goes in Groceries, fiber, cell phone - and no other major expensive or wild lifestyles or even other Debts..
The Actual Question is i am looking up to free some monthly income to better investments option, Anything i can or should change,
Option 1) or Maybe sell the 1 Town house i am renting out,
Option 2) or Push my emergency fund to pay off the Personal loan? Not sure what best options are from here..
Option 3) Or just be content with the current month to month lifestyle?
Looking for some advise, what everyone would suggest is the best way forward from here.
39 Years old, Currently employed full time and have about R500 Free every month... Not much to invest at the moment.
Car I am driving is fully paid off.
Debt:
- I have a Townhouse, Bond still paying off ( living in this house ) 800K left @ 11.25% Interest rate
- Have a Townhouse, Renting out in in JHB area ( owe bond around 600K left ) 11.75% Interest rate
- I have a personal loan that helped pay off wedding (around 126K left) 15% interest rate
- about 200K in Absa Savings as emergency fund 7.5% Interest rate
- TFSA Maxed out for the year 36K ( first year investing there) , and wife did the same
- about 40K in Flexi Reserve of home bond
- Sanlam RA currently running.
I have Medical aid & Car / House insurance, and Sanlam RA rest of money goes in Groceries, fiber, cell phone - and no other major expensive or wild lifestyles or even other Debts..
The Actual Question is i am looking up to free some monthly income to better investments option, Anything i can or should change,
Option 1) or Maybe sell the 1 Town house i am renting out,
Option 2) or Push my emergency fund to pay off the Personal loan? Not sure what best options are from here..
Option 3) Or just be content with the current month to month lifestyle?