Pay off Debt vs. Saving Money

[Geoffrey Murphy]

Hey guys,

I have a quick question for my fellow BP members. I net around 2200 a month from my job and i have about $7,500 worth of debt.

How do i go about saving money every month versus paying off debt

Help please!

P.S. im trying to become debt free and start to build up my credit

all advice welcome!!!!

[Jason S.]

1. Cure the problem that created the debt. Rule #1 - Debt is a symptom of an underlying problem; income, cash flow, spending.

2. Save a nest egg. Even if the debt is at 18% and the savings at 0.5%, having the back up cash is your #1 priority.

3. The next answer is relative to your overall cash flow, income potential, nature of debt, etc. Also the opportunity cost of you options, etc.