Today’s #financialfriday discusses the question that brings an array of opinions. Do you save first or pay off debt first?
The answer is a typical lawyer answer: It depends. It truly does. Today’s article points out some great factors to considering when you are deciding to save or pay off debt.
“Pay off your debt first. Freedom from debt is worth more than any amount you can earn.” – Mark Cuban
Some things to consider:
- Do you have an emergency fund?
- Do you have a retirement plan?
- Do you have high interest debt?
To find out what all you should be considering, read the entire article here.
How do you decide whether to save or pay off debt first? Share your insight in the comments below.