Reported 2 days ago
The article discusses the dilemma faced by individuals like Dante, who has $10,000 in emergency savings but owes $9,000 in credit card debt. It weighs the pros and cons of using savings to pay off debt versus maintaining an emergency fund. While paying off the credit card immediately might save on interest, it risks leaving Dante financially vulnerable. A balanced approach is suggested, where part of the savings could be used to reduce debt while still keeping a safety net.
Source: YAHOO