Source: http://www.thriftyfun.com/tf30093811.tip.html

Saving Money Vs. Paying Down Debt

Does anyone have any advice about the virtues of paying off debt versus the benefit of having some cash on hand? For example, do you feel it's important to try to save money while you still have debt (especially credit card debt)? Or should most (if not all) your resources be put into paying down that debt?

One thing you discover when you try to finance or refinance a home, having cash (6 months worth of payments) is usually a requirement. If you plan on buying a home, a bigger downpayment will lower your interest rate and save you thousands of dollars over the life of the loan. Do you have any tips to share on the topic of saving money, while paying down debt? Please post them below...

Source: http://www.thriftyfun.com/tf30093811.tip.html

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