Investing vs Paying Credit Card Debt
If you've got savings and debt, should you use your savings to pay off your debt? Or is investing your savings a better plan?
If you carry a balance on one or more credit cards, you’re not alone. According to the Federal Reserve, nearly half of American families do, and nearly half of American families also have some sort of bank savings account. But ff you have savings, should you use that money to pay off your credit cards?
Subscribe by email
Like this article? Sign up for our email updates and we’ll send you a regular digest of our newest stories, full of money saving tips and advice, free! We’ll also email you a PDF of Stacy Johnson’s ’205 Ways to Save Money’ as soon as you’ve subscribed. It’s full of great tips that’ll help you save a ton of extra cash. It doesn’t cost a dime, so why wait? Click here to sign up now.
This story is linked to with a thumbnail of 'Credit Cards' by Flickr user Andres Rueda.