Got unpaid debt? Whether its a personal loan, credit card or even a home loan, chances are youd prefer to see your debt out of your life than in it.
So the question is: is it always a good idea to prioritise your debt instead of focusing on growing your savings stash? Or can both be done in tandem?
Weve asked the question of Mozos banking expert, Peter Marshall as well as Sebastian Paulin, Plentis head of direct lending, and Joanne Edwards, Wisrs chief risk and data officer. And boy we got the answers!
Repaying debt versus stashing savings, what should I do?
Well, it depends on your personal financial situation. And according to Sebastian Paulin from Plenti, there is no perfect formula.
When it comes to building savings, we all know stayin…
Read the full article at: https://mozo.com.au/personal-loans/articles/is-it-better-to-pay-off-my-debt-or-grow-my-savings-we-ve-asked-the-experts
