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Emergency fund vs. Debt payoff
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fantastic news, well done
LBM Debt Total : £48,326.50
Pay All Your Debt Off By Xmas 2023 - #50 £1,495.29 / £12,000.00
Saving For Christmas 2023 - £1 a day challenge - #6 £100/£1095.000 -
Pay off OD, then Loan, as they are costing you money. If you're confident you can get another 0% deal then save a small emergency fund (1-2 months of outgoings), then pay off one 0% card, then save more EF (so you have, say, 3 months), then the other card. That's what I'd do.0
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Good to hear you are doing so well. Building an emergency fund is essential when debt busting as you say it stops you turning to credit.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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