Student Loan balance: ~$25,000 with an average interest rate of ~5%
Loan payment: $400/mo Savings: $470/mo
I am approaching a 3 month emergency fund (thank you PF for helping me get to that point). Once I've hit this mark, would it be advisable to allocate that $470 that is going into savings into my student loan payment? Or should I continue to save until I have 6 months Emergency fund? Perhaps a split?
Would love to hear pros and cons of both tactics.
Submitted February 09, 2017 at 11:11AM by thefifthpostulate http://ift.tt/2lvb2gO
