Comments on: How Do You Put Away Savings? http://blog.ragingtech.com/2008/05/08/how-do-you-put-away-savings/ Say Hello to my little friend. Sat, 22 Nov 2008 03:02:02 +0000 http://wordpress.org/?v=2.6.3 By: The Raging Tech http://blog.ragingtech.com/2008/05/08/how-do-you-put-away-savings/#comment-581 The Raging Tech Thu, 08 May 2008 16:46:39 +0000 http://blog.ragingtech.com/?p=484#comment-581 That's a pretty smart idea. I'm thinking that's what I might start doing - though I may have a more short-term savings goal in the intermediate, so I might wait to start paying extra until that's taken care of. That’s a pretty smart idea. I’m thinking that’s what I might start doing - though I may have a more short-term savings goal in the intermediate, so I might wait to start paying extra until that’s taken care of.

]]> By: Nathan http://blog.ragingtech.com/2008/05/08/how-do-you-put-away-savings/#comment-580 Nathan Thu, 08 May 2008 16:29:40 +0000 http://blog.ragingtech.com/?p=484#comment-580 My general rule of thumb is, if the investment/savings/money market is not making a higher interest rate than what you are paying to your debt, pay off the debt first. For example, if money market is paying 4% but your credit card debt is at 10%, you are losing lots of money each month in interest charges by not paying off the debt first. My general rule of thumb is, if the investment/savings/money market is not making a higher interest rate than what you are paying to your debt, pay off the debt first.

For example, if money market is paying 4% but your credit card debt is at 10%, you are losing lots of money each month in interest charges by not paying off the debt first.

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