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category: General, question by: Anthony Lomangino, posted on: 6th February 2012 04:03:43 pm

Q. Debt payoff or Savings Security

I have wife & 2 kids. I have 3K in my savings & 16K in Credit card Debt & 26K in HELOC debt. I am getting 10K back on Taxes. Should I pay down 10K in debt (still only leaving me with 3K in Savings) OR do I have put towards Savings so as to have some sense of financial security for emergencies & continue paying minimums on my debt?

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