Reported 2 days ago
Alice faces a dilemma with $25,000 in credit card debt and no savings. While paying off her high-interest credit cards first could save her money and improve her credit score, not having an emergency fund risks further debt from unexpected expenses. Alternatively, building a safety net might provide security but could lead to more interest costs over time. Experts suggest a balanced approach, possibly creating a small emergency fund before focusing on debt repayment.
Source: YAHOO