Y’all know by now my answer to most financial debates is that the emotions beat out the math, but there’s one thing that always trumps that which I haven’t been the greatest about voicing. Partly because I thought it was obvious, but also because I forget just how nasty the debt industry can be!
This Q&A I just had with a reader covers it pretty well, so I’m just going to share it here for everyone to see, and so that I also have a place to point people to in future discussions as well.
There IS a caveat to the savings vs debt hierarchy, so hopefully this clears it up a little!
One personal finance question that I keeping struggling with is the debt vs savings hierarchy. Your recent posts that cover the concept of emotions vs numbers are making me evaluate this even further.