Debate: Should you pay off debt or build savings first after a big emergency cost? My situation in Phoenix took forever to figure out.

I'm trying to decide if I should drain my $1,200 savings to pay off a surprise $850 HVAC repair from last month, or keep the cash and stretch the payments out. I mean, the peace of mind from having no debt sounds great, but that savings took me like 6 months to build up. Has anyone else gone back and forth on this for weeks and still not known what to pick?

2 comments

2 Comments

torres.leo7d ago

Kept the cash myself and stretched out the payment plan. Having that savings cushion saved me when my water heater went out two months later.

sageallen7d ago

Keep the savings and do the payment plan. I've been there and draining your emergency fund just creates a new emergency when something else pops up next month.

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