Saturday, September 8, 2012
Saving vs paying off debt
The old wisdom was to pay off debt as quickly as possible. In fact, Dave Ramsey says to quickly save $1000.00 then hit the debt and don't look back. Trouble is $1000.00 really isn't that much money when you think about it. Now I read where some financial gurus suggest paying the minimum on debts and putting as much in savings as possible. Our credit scores won't help if we are losing our homes or the folks call your phone hounding you to pay your bills. Where do you stand on this topic? Right now, we only have a car and house payment, no consumer debt. I'd like to keep it that way. My dh is great with money, me not so much. I am a work in progress. I see where some of the bloggers I read go to cool conferences like Fincon etc..........I would love to do that one day.