HELOC vs savings account
Hi Terry, I have $30 in a high interest savings account. It’s my emergency fund. With the good rates on treasury bonds, etc should I invest that 30K and take out a HELOC? I would only use that money if an emergency arose? Thank you
Terry Says
There is absolutely no reason to take out a home equity line of credit and pay fees. And if you don’t want to lose any of your money, don’t start “investing” it. A high interest savings account is the perfect place for your emergency funds.
