The recommended strategy for balancing debt repayment and emergency savings is to build a small starter emergency fund of $500 to $1,000 while continuing to make minimum debt payments, and then focusing more aggressively on debt repayment once that safety net is established.

Authors

• Person: Gina Coletti Organization: Nixon Peabody Trust Company
  How to build and maintain an emergency fund

Sources

• How to build and maintain an emergency fund www.nixonpeabodytrustcompany.com Gina Coletti · Nixon Peabody Trust Company via serper

Referenced by nodes (1)

• emergency fund concept