I have $5k in savings right now, and would like to keep some of that (maybe half) in a regular savings to use for emergencies. I have done very minimal research and it seems that smarty pig has good interest rates (~1.1%), but I’m hesitant since it is not a bank I am familiar with. I am also working full time at this time and using most of my money to aggressively pay off my credit cards (total amount $3600 at 9.65%). Also planning on doing a balance transfer to a promotional credit card with 0% interest for 12 months to make sure all of my payment is going to the principal. I am also making car payments ($160/mo, 3.65% interest, total amount $5500) and student loan payments (only $30/mo because there’s no interest on them right now, but total loan amount ~$16k). I also do not pay for rent, only groceries ($400/mo). My take home pay is ~2k/mo after taxes. Please advice me on what’s the best route, and/or resources to better guide me this year.
Submitted September 17, 2020 at 08:42PM by ellam20 https://ift.tt/2ZMPiCQ
