Debt
Is it financially wiser to use my insurance payout to pay off my loans and be debt free , or should I save some for future needs, such as emergencies, other expenses, or a vacation, considering that I already have a car?
Terry Says
Gosh, I dont’ have enough information to really answer that question. Are you young, still working? Older, retired?
I’d always suggest you have some cash (moneyin the bank) set aside for emergencies. But if you are paying an outrageous rate on your car loan, you might pay it down, or off.
If you’re still working, just keep the money inthe bank and make extra payments on your car loan!
