We owe 6k to a 8.4% personal loan. Now we have 6k in a HYSA yielding 5%. My salary is ok and we should be able to accrue this amount of savings in 4-5 months.
We reworked our budget and clearly have been living above our means. Should be better going forward.
Anyway, the main question is do I keep on building my emergency fund or go ahead and get rid of this personal loan. We pay 1 k a month to the loan.
Thanks in advance.
We reworked our budget and clearly have been living above our means. Should be better going forward.
Anyway, the main question is do I keep on building my emergency fund or go ahead and get rid of this personal loan. We pay 1 k a month to the loan.
Thanks in advance.