Originally posted by: Patt
Always try to save, even when you're paying down massive debt. Even $20/month, $40 per month. Try to build something (even if small) at the same time as you pay down. It'll help in the long run. That is the situation I'm in right now, but we're still able to save aggressively, so that once our debt is paid off, we'll still have some money to work with.
Horrible advice IMO unless this debt is below 6% interest (which i doubt it is). By paying off the debt he is saving more money than he would in a savings account.... plus the worst case scenario is that he uses theCC again for an emergency he didnt save for, and he is no worse off than before (minus a few months that he wasnt paying an outrageous interest rate on)