3 reasons why you should pay off your debt before saving money
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- Опубліковано 19 тра 2024
- 3 reasons why you should pay off your debt before trying to build a savings fund... Subscribe to join me on my journey to financial freedom! 😇
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PREACH 🗣️ saving less now! Paying my debt off! I will be a better place 3-6 months from now. Good luck everyone ❤
Amen!🙏🏽
What I did was a balance transfer to a card that had no interest for 15 months! Saved me so much. PLEASE NOTE, there is a balance transfer fee of 2-5% of the balance being transferred. Even with this it was still cheaper than that monthly interest.
Love this. Just paid off one of my cards yesterday. Now to tackle the next card which is a larger amount.
good for you!!! that is amazing! 😇
I wanted to get my emergency fund / cash buffer first, to prevent having to use credit cards again for those things that come up. If I was able to stay with someone rent free or low rent, or had more of a safety net housing wise, then I agree paying off high interest debt first is great, but i definitely needed a safety cushion, since not having one is how I ended up in credit card debt!
You are 100% on it with paying debt first!!! No matter what the interest rate of debt is almost always higher than savings 😭😭. I’m coming into a lump sum of money and the first thing it’s going too is debt! F that interest 😂😂
good for you girl!!! 😇
thank you I have been paying off my debt as well
That’s amazing!! Proud of you! 💞😇
You can always call the credit card company and ask them to lower your interest rate.
i think that also messes up your credit score
@@kaylalashaevlogs no it should not affect your credit score. Some credit card companies may do a hard inquiry on your credit and that will temp lower it but for the most part it will not hurt your credit score.
@@kaylalashaevlogs it depends on the bank, but it’s only a few points temporarily. It could save you hundreds. Scores fluctuate! Unless you about to buy a house, car etc no need to hyperfocus on score
You should pay off your highest interest debt while saving money…If and when that emergency occurs then you will have money and won’t have to use credit cards.
Nice Video. I am currently paying off my debt as well.
you go girl! 💞
I enjoyed this you were so on point with all of your points in this video 💕
Glad you enjoyed!
very helpful knowledge✨☮️
Glad it was helpful!
I was told I should have $1000 in a savings account in case I have an emergency so I don't have to tap into the credit card (if I happen to have no cash available) 😌
Thank you ❤👍🏾👏🏾🤗
💞
Tnank you❤as always❤
Always welcome!😇 thank you for stopping by today to watch!
Not even watched the video yet just wanted to say that baby pink colour on you is everything! 😊 Is it gymshark pink lemonade?
thanku 🥹 yes it is the gymshark lemonade pink! such a pretty shade!
Hi kayla
Hey girl! 🥰
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