I have been slowly building an emergency fund over the past six months, and it's at $3k now.
I also have about $6800 left on a personal loan at 10.75%.
Should I leave the emergency fund as is for right now and throw the extra at the loan? The sidebar info says anything over 10% should be a priority after a minimal emergency fund of $1k is established. I've got three times that in savings, so should I consider taking some and putting it toward the debt?
I'm hesitant to deplete savings at all, because for the first time I actually have over a month's salary saved up. But I keep looking at that loan balance and that interest rate and think I'm being stupid not throwing $1k or $2k at it from savings.
Thoughts?
Submitted April 01, 2017 at 06:58AM by gpc0321 http://ift.tt/2nq6d8f
