Re: Paying Off Credit Card Debt vs Building An Emergency Fund
This has always been my thought. We started aggressively paying off the cc and said "savings can wait". It was a gamble and when DH lost his job, we did have to put more debt on the cc's (again), but I think we came out better in the long run.
Plus, the more we paid, the higher they raised our credit limits. We ended up having to tell them that was enough credit limit - it was up to something like $60k (and we made about $32k/year at the time). I figured there would be no emergency that we couldn't cover with a $60k credit limit.
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