My partner and I just lately recieved some cash (£10k) from a somebody who handed just lately. We aren’t wealthy individuals, however we’re owners and we’re making an attempt to determine whether or not to make use of the cash to erase our money owed or put it in a financial savings account. For context:
I’ve an overdraft of round -£2750.
Partner has an overdraft of round -£2000.
We have to put some cash apart for holidays and different issues resembling paying the payments by the remainder of my partner’s parental depart (we now have a child), which can depart roughly 5k remaining, so it truly is a query of debt erasure, or partial debt erasure versus discovering an account with a good rate of interest and letting it sit there for some time.
Thanks prematurely.
