Hi everyone! This is my first post and I am hoping to learn some valuable information.
Here is the down low.
Sale of house around $50k after closing costs
Debt:
Small loan $1,800.00 no interest no repayment date
School Loan $7,800.00 left at 5.75% interest rate
Personal loan: $8,500.00 left at 11% interest rate
Car Loan: $29,000.00 left at 4.25% interest rate
Liquidish Cash:
$5k in relocation bonus (most will be gone for a relo-cube and rental upfront payments)
$3k bonus from old job
$3.2k investment account
Scenario:
I am relocating due to a new job in a different state. House is in the process of being sold and closing is in a few weeks. My real question is, should I repay all debt and be left with about 3-5k in liquid cash? Should I repay some debt? I am planning on repaying school and personal loans but debating if I should pony up and fully pay the car leaving me debt free. What say you great mustaches?
Any advise will be greatly appreciated. I do plan on purchasing a house at some point in the new location as I dont like renting. 2-3 years.