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[QUOTE="Jurn8, post: 1139704, member: 42197"]
Guys I need your help and opinions on this matter.

Im currently a student and am in £800 debt in my student account. thats ££££ not $$$$.

This is only because £400 for house deposit next year for me to live, £130 estate agents fees for the house and the rest is a partial deposit for my holiday in the summer which I have paid off.

However I have 3 other accounts, two are savings with like £40 in each, and my everyday account.

I have like £90 in my everyday account but I need to live off that at the moment.

So here is where I need your help, I have two options now I have move to 50NL I can earn potentially $1000 a month and now I want to withdraw money ever month which will be a % of profits to keep the bank ticking along.

April will be the first time doing this and with my debts which option do you think will be better.

[B][U]Option 1[/U][/B]

Withdraw All profits made in April and pay off debt immediately

[B][U]Option 2[/U][/B]

Take 50% profits out of bankroll each month and use 20% of the taken 50% to pay off debt slowly.

However before you make your decision, I have to pay £1100 for my first quarter payment of my house for next year in June. However we dont get our student loan until September so I have to have this money up front. I dont want to ask my parents for it because I want to be independent and stand on my own two feet now. So I could use my whole £1200 overdraft to pay for my first quarter house payments if its free until I get my loan and then put it straight back into my account once my loan comes through in September.

Opinions please.
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