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loubarajas OP t1_j7vrz7z wrote

Reply to comment by yktoday in I am Louis Barajas, and I am a financial expert. Let’s talk about inflation, layoffs, debt and making more money. AMA! by loubarajas

This is an age old question. IT DEPENDS. I have clients that detest debt and can't sleep if they owe a couple of thousand on credit card debts. No amount of interest being earned in the bank will give them peace of mind. Also, it depends on how much debt you are carrying. I always try do do both, pay off debt and save. Glad to know that you are earning 4.5% on your savings though.

For others reading this, check out www.opportunityknocks.net to find a CDFI (Community Development Financial Institution) to help you save more.

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