Throw most money at House Down Payment Fund or CC Debt?

[lindyanne]

How much are you able to save/pay each month, how much savings do you have other than the 10k, and what percentage of your expected house purchase will the $10k be?

[audette]

Pay off the credit card debt first. Then save for a downpayment. And then save an emergency fund beyond the downpayment savings for the "just in case" scenarios that can come along unexpectedly.

ETA: Technically, the emergency fund should come before downpayment savings, but I'd just treat the current 10k saved as part of the emergency fund, and go from there... Generally you want at least 3 months expenses in an emergency fund.

[livinitup]

How much will you spend on interest by keeping this CC debt for 6 months, 12 months, 18 months?

Those unexpected expenses seems pretty normal. Have you accounted for unexpected house/household/living expenses after ownership- in your budget?

[iheartbanjos]

Don't buy a house with credit card debt.

You'll want to buy curtains, paint, furniture, etc.

[AAM2012]

What are holiday expenses?

To answer your question I wouldn't even look at buying a house until I was free of credit card debt, had a completely separate efund and had a good chunk of $$$ to put down as a DP.

Edit: I'll be nice

[ShaysMomma]

Thanks everyone. Your questions/input are much appreciated

[SJ]

I don't even see the post, but I don't need to.

Tackle CC debt first.

[aurora]

Jan 25, 2015 21:02:44 GMT -5 pennypenny said:

I agree will you all, but do you really think people have no cc debt when purchasing a house? Seems like one of those things that only happens on MM. And i didn't see the OP.

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I think lots of people* have no CC debt when they purchase their homes.  I'm sure there are many who do, but it's not just a MM thing.

*certainly most of the homeowners I know in real life with whom I've discussed financial details like this

[SJ]

Jan 25, 2015 21:02:44 GMT -5 pennypenny said:

I agree will you all, but do you really think people have no cc debt when purchasing a house? Seems like one of those things that only happens on MM. And i didn't see the OP.

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No, of course I don't think that. I am sure many people buy houses with CC debt. That doesn't mean it is wise to recommend that course to people when they are looking for advice.

[AAM2012]

Jan 25, 2015 22:33:16 GMT -5 SJ said:

Jan 25, 2015 21:02:44 GMT -5 pennypenny said:

I agree will you all, but do you really think people have no cc debt when purchasing a house? Seems like one of those things that only happens on MM. And i didn't see the OP.

Sent from my SM-T210R using proboards

No, of course I don't think that. I am sure many people buy houses with CC debt. That doesn't mean it is wise to recommend that course to people when they are looking for advice.

Agree. Especially when OP said they had "unexpected" costs...and then mentioned holiday spending.