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I apologize for not mentioning that I already have an emergency fund of 3 months set aside which will remain untouched in a money market fund.

So... should I pay down the debt early or save? It seems to make total sense to me that 7% is greater than 5% but my financial planner disagreed.

Dear scstarkey,

Around Fooldom, you'll find that the consensus is to pay down the debt ASAP. If you think about it, every dollar that you pay towards your debt is a guaranteed return to you. You can't say that about any other investment.

I'd recommend that you read through the articles in our 'Dig Yourself Out of Debt' feature, which is located at:

There is an excellent discussion board for follow up questions.

Fool on!

Karen Kosoy
TMF Karen

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