Single Guy Money and his Save Money vs. Debt Reduction Debate

A Single Guy and his Money is a newer blog I've found. Billed as a 28 year old single professional male playing the money game, the author, Singleguymoney, has received a slew of comments regarding his most recent Networth update. Among these were some very detailed and intricate comments questioning his large bank balance and large credit card balance. Most people thought he should pay down his cc debt with the large bank balance. In response to these comments regarding his networth he outlined his fear of not having liquid money and a lot of readers continued to "bash" him for this belief. Well, he finally did it...at least part of the way, by paying a significant of the cc debt.

This series of posts and comments were a great read and I highly recommend taking a gander if you have time!


At 2/19/2007 10:33:00 AM, Anonymous Anonymous said...

Its always better to pay off your debts fist. Reason being that, the interest rate on debt is much higher than the interest rate on your savings..
example.. the interest you'd pay on an IVA Mortgage..
On the other hand, its always better to keep some money on the side!


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