Should I Save or Pay off Debt?
Category: Articles- gotalkmoney.com- 2:16 pm/ October 24, 2007A lot of Americans today are in debt and who knows, you may be one of them. We just launched an article explaining if you should either pay off your debt or save money.
The concept of the article is actually quite simple but we don’t want to give it all away. If you’re going to save your money, make sure your money is making more than what your debt interest rates are. It would be silly for you to save money when in the long run, it’s going to hurt you!
Here are a few debt-fighting steps –
- Pay off either your highest bill first or the highest interest rate bill. It’s always easier to transfer as much as you can. If you can get a credit card with a 0% balance transfer for 12 months, take advantage of this!
- Pay the minimum on all of the bills you’re not targeting.
- Get more jobs! Deliver pizza or cut grass. Every little penny will add up. Just think, the more your net worth is in the positive range, the quicker you can retire.
Fighting debt can be annoying but if you have the motivation and the determination to get out of the hole, you can survive. It’s never to late to fight debt! Get more information on our Debt Vs. Savingsarticle on gotalkmoney.com
- 6 Month CD 0.60 %
- 1-year CD 0.92 %
- 2-year CD 1.47 %
- Money Market Account 0.37 %
- Savings Account 0.60 %
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Bank rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming mortgage rates
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