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Money to invest or pay off the debt

4 replies

monikagabi · 08/06/2020 19:10

Hi guys,need a bit off advice.
recently i received a gift from my parents.
It is substantial amount of money,but not enough to buy us a 3 bedroom house,maybe it would do for a mortgage, but my credit score is low and i have some debts to pay off,which would save us about 500 a month plus obviously interest. If we would be saving up we would have enough money in 5 years to buy us something proper and be debt free.my partner wants to buy rather now something abroad ,because he eventually wants to live abroad. I am not really sure with the idea...

OP posts:
Frenchfancy · 08/06/2020 19:11

Pay off debts. No question.

OnlyFoolsnMothers · 08/06/2020 19:14

Pay off debt 100%

LIZS · 08/06/2020 19:17

Interest on debt outweighs benefits of savings.

Windinmyhair · 08/06/2020 19:24

Pay off debt but carry on paying most of that sum saved monthly into savings for a deposit

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