I’ve been stuck on this question for a while now. Part of me wants to go all-in on student loan repayment and reduce interest as much as possible.
But at the same time, not having enough savings makes me uncomfortable. I recently tried comparing both approaches aggressive payoff strategy vs balanced saving and it just made me more confused.
The interest on my loan isn’t super high, but it’s not low enough to ignore either, which makes the decision harder.
I even considered using a loan calculator to see which option makes more financial sense long term, but real life isn’t always that simple.
How are you guys deciding between paying off loans faster vs building savings first?
Should I focus on student loan repayment or saving money first?
byu/leoniozk inStudentLoans
Posted by leoniozk
1 Comment
As someone doing gig work I always keep emergency fund first because you never know when car breaks down or work gets slow. Once I have like 3-4 months expenses saved then I focus more in the loans. Interest sucks but being broke with unexpected expense is worse trust me