Is it better to use it to pay off my credit card or should I put it in savings? That way you’re wiping out your most expensive debt first. "With no emergency fund, you are one crisis away from getting right back into credit card debt," says Michael Baughman, an advisor at Tryon, North Carolina-based ParsecFinancial. You don’t want to wind up with the same dilemma – credit card debt and little to no savings -- a year from now. If you have a balance after the introductory period is over, you’ll pay interest on it.

Source: Forbes December 07, 2017 20:37 UTC