• Should You Pay Debts First or Save? Use These Guidelines to Decide

    8 days ago - By RIS Media

    Simple math suggests it's probably better to pay off debt before saving for retirement or adding to your emergency fund. Generally, if you're paying more interest than you're earning in interest, you're losing money.
    But personal finance decisions are rarely so simple, and wiping out debt first isn't the right choice for everyone. For example, having no emergency savings to fall back on sets you up to incur more debt when an unexpected expense comes up, such as a medical bill or a pricey car or home repair.
    Here are scenarios for when each choice-paying down debt or saving-makes more...
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