A quick check of several websites and newspaper columns that offer financial advice on debt repayment and to get loans, shows that the most common question asked today n, is not, “Where do I get a bad credit cheap credit? “Or” Can I use a government grant to pay my debts, “but” Am I my savings to pay the debt ?”.

BTW – there is no government support, which can are to pay for debt

Also, if your savings to repay the debt?> The first part is easy to vary.

Take a look now and see how much interest you pay on your debts, and compare it with what you earn on your savings. If you receive less interest on your savings account to pay your creditors and pay their debts would be natural to make sense.

This is by no means all of history, and it would be nice if it were that simple.

If you have enough money to cover all your debts and high costs are still a little money in hand, then, of course, you have to pay your debts, but it is unlikely that these lines to read if that was your situation.

Keep some money for emergencies.

a) Imagine that you used all your savings to pay many of your debts, but still much to be repaid. You will receive an unexpected bill medical dismissed, or take care of any unexpected event, and can not be the minimum payments on your credit card or other loans.> b) Suppose that for some reason, the salary is not deposited into your bank account, then it should and there are many reasons why this can happen, such as on weekends or holidays disturbances in the system of paying someone. most or all of your payments are not paid and you get all kinds of taxes and fees for lenders.> State of California, the American mentality and look at it now.

It pays people with IOUs because he is bankrupt.

general advice is possible.

Although there is no firm answer to the question of whether a person should use their savings to pay their debts, there are some general tips.

can be given a) the cancellation of three months if the charges can, but not less than two months if you need cash to cover unforeseen events.

2) Use to pay the rest of your savings or debt repayment, the more interest than your receiver to your account cost savings.

A mortgage loan or fixed rate student is not something you want to be the rule, or even able to pay, but credit cards are, and if you can not pay all your savings and then pay those who depend on higher interest rates and fees.

3) If you manage to get rid of large debts, would be the next step, increase the amount from your savings account to six months if you can.> I am speaking of stamps, collectibles and antiques, etc., no financial investment, unless you really understand. Also, if you have money to pay them to do as long as you keep money set aside as shown.


Repayment of debt