Have some extra cash? Should you pay off debt or save? Here's how to choose.
If things are going well and you've got money left over at the end of every month, you may be wondering if you should pay off debt or save. How do you choose?
If, on the other hand, you work for a start-up and your spouse or partner is a freelancer, prioritize saving for the emergency fund. You should have three to six months of expenses set aside, particularly if job loss would mean not being able to cover expenses. Why understanding asset allocation is key There is clearly no shortage of people in today's society who are comfortable with debt.
Sometimes determining if the carry works for you or against you is simple. For example, if you know you'll pay more in interest on the credit card that charges 19.5 percent than you'll earn in a money market, taking care of the debt obviously makes sense. On the other hand, if you've taken out a no-interest car loan, the carry works in your favor, even if you're just investing in a certificate of deposit.
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