Hoping you can help me. I have a couple of very small debts from friends and family and looking for the best strategy to pay them. I am currently using around 56% of my salary to pay back these loans but it seems it’s taking forever to get them to zero.
If you had to choose between friends and family, who would you pay off first? This is important for me because I am afraid I may lose an income source and may fail to repay back in time so would like to pay off folks ASAP. If I lose an income source, at least I can be debt free. Also, I could instead stop paying these debts and invest/start a business instead and start paying back from that. What are your thoughts? Thanks