How should they use their extra monthly income?
Save or Pay Down Hospital Bill?
by Gary Foreman & Curtis Arnold
Fund Retirement Account or Reduce Debt?
Should You Pay Debt Before Saving?
Using Your 401k to Pay Off Debt
You have a little extra money coming in each month. Is it smarter to put the extra cash towards savings or to paying down your debt faster? Gary Foreman, editor of The Dollar Stretcher.com and Curtis Arnold of CardRatings.com and BestPrepaidDebitCards.com answer this question as they discuss paying debt vs. saving.
Curtis Arnold is founder of CardRatings.com and BestPrepaidDebitCards.com. He's also the author of How You Can Profit from Credit Cards: Using Credit to Improve Your Financial Life and Bottom Line. Mr. Arnold has been an expert in the area of credit cards for nearly 20 years.
Gary Foreman is a former financial planner and purchasing manager who founded The Dollar Stretcher.com website and newsletters in 1996. He's been featured in MSN Money, Yahoo Finance, Fox Business, The Nightly Business Report, US News Money and CreditCards.com. Gary shares his philosophy of money here. You can follow Gary on Twitter or visit Gary Foreman on Google+. Gary is also available for audio, video or print interviews. For more info see his media page.
Share your thoughts about this article with the editor.
Debt from my past is preventing me from saving for my future! Tell us: Yes, debt is hindering my ability to save and I could use help dealing with it! or No, debt is not a problem but I am trying to get ahead financially!
More Money Tips & Tools
- How to get a faster tax refund
- Personal finance calculators everyone should use
- Why you should know your credit card payment cutoff time
- Saving-money secrets of the rich and frugal
- 5 low-risk ways to earn higher interest now
- How to save money fast
- 7 IRA withdrawals that don't trigger a penalty
- This week's Readers' Tips