The speaker advises prioritizing paying off the high-interest debt on the Trailblazer over the Silverado, despite the latter having a lower interest rate. They estimate the total debt could be paid off in 19 months with a more focused approach, leading to a fully funded emergency fund and increased retirement savings.
"Your minimum monthly payments comes out to $1,535.42. Listen, Trailblazer, honestly, minimum uh sorry, Silverado, minimum payment until it's paid off. I would not pay anything extra on that. I really wouldn't with your equity position and the interest rate. But the Trailblazer were murdering. Even with the equity position, the interest rates are stupid, insane, dumb, stupid. So, bad debt is $18,872.0 divided by obviously it's going to be close to about 20 months, but let's see. Yeah, 19 months, which honestly not bad. A year and a half, that's with your lower income. You ramp it up, pay it off in a year, fully emergency fund in 6 months, start building back up on retirement."
