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The Decision to Save or Pay Off Debt

Credit and Debt

You've built up your savings account and have been pulling in more cash than you're spending. Now it's time to make more great financial choices.

If you have outstanding debts, it can be difficult to determine whether you need to save for emergencies or pay down your debts. While it’s always a good idea to build on your emergency fund, once you’ve saved for 3-6 months of expenses, you should look to begin reducing your debt. Use this calculator to determine your best plan.

 

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The information provided in these articles is intended for informational purposes only. It is not to be construed as the opinion of Central Bancompany, Inc., and/or its affiliates and does not imply endorsement or support of any of the mentioned information, products, services, or providers. All information presented is without any representation, guaranty, or warranty regarding the accuracy, relevance, or completeness of the information.