Which order should I pay off first?

[lovinit]

So, I have a lot of bills but not enough money to pay them all. Which order should I pay off first when I don't have enough money? What bills are mot important. Is it better to pay a little to all of them or should I pay certain bills first and just not pay others? Please help!

[Jazzmint98]

We would need more information to give you advice such as balances, loan interest rates/terms, monthly income, etc. Giving us more of a financial background would help us better determine what would be best for you in tackling your debt.

[Mesem]

Yea, we need more info, but as a rule of thumb try paying off the ones that are "easy" due to less interest being accrued over time.

[lovinit]

rent
car payment
credit cards
store credits
utilities
food
personal loans
cell phone
cable TV
timeshare
taxes
student loans

I don't have enough to pay for all of these right now, so I need to know which ones to not pay or if i should just pay a portion of all the bills.

[disneysteve]

If you can't afford all of your bills, the first step is to get rid of some bills.

You don't need cable. Cancel it today.
See if you can reduce your cell phone plan.
Food isn't a bill. It's an expense. How much are you currently spending for food each month?
How much is your car worth and how much do you still owe?

We can give much more specific info if you provide more information. Tell us your income and the amounts of each of those bills (balances, interest rates, and minimum payments on the debts).

[snafu]

I hope you understand there is NO abracadabra magic formula for making bad decisions go away. On another thread you've mentioned a car loan @ 8.75% as a result of your credit rating. The only answer is to 1st cut back every possible expense and 2nd to earn more income with a 2nd job. You will need to do the hard work it takes to clear up those problems. Credit card balances, store balances and loans is a clear message that you've spent income not yet earned. The interest that is accumulating is making it worse.

I suggest you get your credit cards out of your wallet and put them in the freezer if you've not done that already. You need to know where every dollar goes and it helps you be mindful when you write it down in a tiny notebook. What can you do short term to reduce costs? Get a room mate? take lunch from home? eat-in? stay out of restaurants and taverns? make a meal plan? limit entertainment to free/nearly free? work overtime? tie errands to regular drive from work?

We're willing to offer encouragement and cheer your every effort.