Investment 2 ( Clear Debt)

How to clear debt. After check healt personal finace Mr.Jo they fond loan. This status can't investment because the return from investment can't fight the interest from Debt. Better way Mr.Jo should clear Debt first.
Loan List:

1. Credit card 8,500 $
2. Car 300 $ per month (Fixed Pay)

Step:

1. Asset and Saving.
- Fixed Asset 3000 $
- Long term bond 1000 $ (Can't touch)
2. Check Income (Only one for Income)
- Income 1200 $ per month

3. Pay Dept (Income 1,200 $)
- Pay for Car 300 $
- Pay Credit card 10 % 850 $
*** 1200-300-850= 50 $ ****

From information Mr. Jo have only 50 $ for cost of living , this money is not enoght. Minimum living cost should be 300 $ per month.

Solution:

1. Sale Fiexd Asset 2,000 $ for reduce Dept.

*** 8500 - 2000 = 6500 $ (Credit card dept after sale Fixed asset)

Personel Finace after sale asset

Income 1,200 $
Credit card Dept 6,500 $ 10 % payment per month 650 $
Car Loan 300 $

**** 1200-650-300 = 250 $ (Total cost of living per month) ***

Mr.Jo should have discipline don't create new debt and loan.