Payrise: pay off debt or save for house improvements??

[chosenone]

Any ideas?
I Have managed to secure many more hours work at last and will be £450 per month better off. Not boasting at all as have DEBT and a tiny house with DD and DS sharing a room. So which is more urgent? pay off debt; 2 credit cards= £3000 catalogues=£1100 overdraft= £2500.

Shall I focus on ridding the debt with the highest interest first and go from there or keep balancing the debt and save the extra to either move or improve? WWYD

Debt - it'll reduce your outgoings so that once you've paid it off you'll have more each month to do the home improvements

Definitely clear the debt, starting with whichever has the highest interest rate. If the interest rates aren't too crazy you should be able to clear the debt in 16 months. It's not worth having savings until the debt is clear.

Another vote for debt first.

Debt - always debt unless very low interest and not a bother. But yes debt.

That's a lot of debt. Pay that off first.
You could have the catalogue paid off by Xmas.

Debt unless it's something really drastic like being able to see the sky through your roof.

Don't mean that to sound judgy btw. I have similar amount of debt and no pay rise.

Ok. I will dig deep and get the debt cleared. Think I will feel so much better without that over my head too. I want to do the house extension/move but I am hoping it will motivate me more to get the debt clear first.

It's easy to do Red, a few emergencies and a bit of a nightmare when I split with exDH.

Would be worth checking if you can switch any of your debt to a lower interest rate (or interest free credit card?) first, and then making concerted effort to pay off whichever is highest interest rate.

Chosenone - I know it is. I'm at a similar amount. I wish I'd spent it living the high life. Long spell of unemployment for me.

Debt, definitely. Interest rates on borrowing much higher than the negligible ones on savings.

clear the debt, get a financial cushion in case of job loss and then make the next move.

and never use catalogues again - SO expensive!

Absolutely clear the debt! And YY, move to the lowest interest rate you can while you're doing it.

Unless you're currently struggling, you should put all the extra money towards paying off the debt - you won't miss what you never had, and the sooner you pay it off, the less you'll waste on interest.