Quote:
Originally Posted by fruitbowlk
I have choosen to save money in my EF and pay off my cc debt. I'm no longer able to use the card and refuse to get another one so I need some money saved up if something happens. Ex. Last Dec my car broke down and I have no cc's and I had no money saved up I had to wait a week to get paid and get my car fixed. That was a pain We have two different location that we have to be at and one location is further than the other. I only have one cc debt that is 4600 and I'm saving up 1000 to cover emergencies then I'm going to go full force and pay off my cc debt. Hopefully within a year or a year in a half.
|
i agree with your statement, but if you have debt I think it is best to pay down debt, however, it depends what the APR is vs the APY in your savings account or money market or whatever investment vehicle you are using.