or Connect
Mothering › Mothering Forums › Natural Living › The Mindful Home › Frugality & Finances › Budgeting after a layoff - pay off debt or save?
New Posts  All Forums:Forum Nav:

Budgeting after a layoff - pay off debt or save? - Page 2

post #21 of 23
Thread Starter 
Sorry to post and disappear, everyone! Thank you all so much for the advice. It sounds like Savings wins by a landslide. After reading all of your thoughtful responses, I think I agree. These aren't normal times, and it's possible that our 10 month emergency fund won't be enough if I get laid off too.

Savings is the right choice for this situation. I just get frustrated sometimes because in his mind, savings is the right choice for every situation. I'm the opposite - I want those stupid loans paid off! And I know that even if we were both employed and confident that no lay offs would occur, he would never consent to taking money out of savings to pay off a big chunk. Once it's in savings, it doesn't come back out. I mean, that's a good thing for this situation, I know that. It just makes me sick to see all the interest we pay to student loans when our savings produces so little. But, that's an argument to be had when our situation is more stable
post #22 of 23
Quote:
Originally Posted by Hedgehog Mtn View Post
I think I would set it aside until September. If your job is secure in Sept or your DH finds a job then you can put that chunk towards the debt.
:
post #23 of 23
another vote to put your money into savings - my dh has been laid off since September and is very qualified and has only gotten a handful of interviews. If you pay down debt you don't have that money available for monthly expenses should you need it. Do everything to maximize the number of months you can live should you lose your job. It is brutal out there right now.
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: Frugality & Finances
Mothering › Mothering Forums › Natural Living › The Mindful Home › Frugality & Finances › Budgeting after a layoff - pay off debt or save?