I have been out of college for 3 years. I have 26,000 student loan debt with low interest rates 1-4%, 6000 in credt card debt with 9% interest.
I’m struggleing with if its better to have a savings accont or to pay down my debt. i currently have a savings account, but I dont know if I should take that money and use towards my credit card/student loan debt or continue to save in case something happens with my job. Any Opinons?
I think your question is best answered by the Q&A and comment from Ashlee from her question. Read Ashlee’s question here.
Bottom line, the savings account is critical. Pay the minimums on your debts until you save up at least $1,000 in a savings account. Nobody ever went broke from saving.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Do you have a question you'd like to ask me for free? Go ahead and click here.
P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.
- Clay Advisors – Same Debt Consolidation Loan Mailer, Different Name - August 18, 2022
- City of Chicago Goes After Strategic Financial Solutions and Monarch Legal Group - August 18, 2022
- Refunds Sent to Students Deceived by Student Advocates’ Debt Relief Scam - August 18, 2022