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The Watercooler
What is the wise thing to do with extra money?
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<blockquote data-quote="Fran" data-source="post: 144275" data-attributes="member: 3"><p>Maybe I'm an alarmist but I think you always need a secret "stash" for emergencies. </p><p>I know that the text book way is to pay off high interest debt and reduce monthly payments but I still think that a portion should be squirreled away and almost forgotten. I define emergencies too. I'm sure everyone has their own idea's but for me it's medical emergencies, car emergencies and funerals. If you add 10.00 more a month, it grows without you even looking at it. </p><p>Maybe a balance of paying things off and saving for an emergency is a good way to go.</p></blockquote><p></p>
[QUOTE="Fran, post: 144275, member: 3"] Maybe I'm an alarmist but I think you always need a secret "stash" for emergencies. I know that the text book way is to pay off high interest debt and reduce monthly payments but I still think that a portion should be squirreled away and almost forgotten. I define emergencies too. I'm sure everyone has their own idea's but for me it's medical emergencies, car emergencies and funerals. If you add 10.00 more a month, it grows without you even looking at it. Maybe a balance of paying things off and saving for an emergency is a good way to go. [/QUOTE]
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What is the wise thing to do with extra money?
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