I'm getting laid off in 3 months, and I am currently in the process of looking for a new job. I am currently saving every nickle and dime that I can. I have 2 bills which equal $12K, and I'm making slightly over the minimum monthly payments. The interest rate is 9.99%. I have no car payment, and my other bills would be covered with the unemployment benefits that I'm eligible to receive.
My question is: should I continue to save every nickle & dime, or should I aggressively work on paying down debt.
My current philosophy is to save every dime so that I have the cash on hand should anything come up where I need the money, and not charge it.
My question is: should I continue to save every nickle & dime, or should I aggressively work on paying down debt.
My current philosophy is to save every dime so that I have the cash on hand should anything come up where I need the money, and not charge it.