Paying Down Mortgage vs. Saving - Page 2

[llamalluv]

I'm sure that someone else has already said this, but it bears repeating!

Dave Ramsey recommends paying consumer debt (cc, student loans, etc), then saving up 3-6 months of cash for an emergency fund, then setting up retirement savings of 15% of your income, then starting college savings, then paying off the house.

But if you are self employed, I would bump that savings up to 6-12 months of savings, and make sure that you have an e-fund for the business, too.

[phatchristy]

With this economy I would suggest saving at least 6-12 months before considering paying down the other debt.