I'm in a situation right now and need some advice. I have an auto loan with 14k that I'm about to pay off entirely to avoid interest and allow me to have more financial flexibility month to month.
I have a credit card that is interest free until June of 2024 with a credit limit that would easily allow me to pay the full 14k balance. I also have about 40k in savings that I want to put towards a house in the next 6 months or so.
Does it make more sense to take on the interest-free debt until I buy the house? Or should I just pay it all off to be safe? Granted, I only plan on using about 20-25k for the house, as it's in a relatively LCOL area.
Thanks for any and all advice!
Submitted September 27, 2023 at 07:46PM by dr-freddy-112 https://ift.tt/83KGTzo
