WE SOLD OUR HOME AND NOW MY WIFE WANTS TO BUILD AN EMERGENCY FUND INSTEAD OF PAYING OFF DEBT — WHICH IS RIGHT?
https://media.zenfs.com/en/moneywise_327/849048258b69f04d45caded6d1195149
✍️ A couple with a paid-off house and $50,000 in credit card debt must decide whether to pay off the debt or put the money in a high-interest savings account.
👉 Pay off credit card debt to avoid high interest rates 👉 Put money in a high-interest savings account for liquidity and earning potential 👉 Build an emergency fund to cover 3-6 months of expenses 👉 Consider a middle ground, such as paying off a portion of the debt and building an emergency fund 👉 Work together as a couple to manage finances and make financial decisions
-- #Deborah #Pete #StuartBoxenbaum #DaveRamsey #RodGriffin #KristenBeckstead #RachelCruze #RobertKiyosaki #personalfinance
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