Budgeting
8 months ago
Should I use my emergency fund to pay off credit card debt?
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I have $18,000 in credit card debt at an average of 22% APR. I also have $22,000 in an emergency fund in a high-yield savings account earning 4.8%. Mathematically it seems obvious to pay off the cards and rebuild the emergency fund. But is the peace of mind worth the 22% interest I'm paying? What would you do?
DE
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