@robeverydayfinance: 💰I have a confession: I’m breaking my own money rule I talk extensively about prioritizing paying off any high interest debt above investing, because generally you’re getting a better return on your money by paying off anything about 7% APR than you would by investing that money The thing is, my car loan is sitting at 7.99%, and I’ve intentionally been investing over making additional monthly principal payments After being laid off 3 times, my sense of job security has gone out the window. My emergency fund is really important to me because it gives me some peace of mind knowing that if anything were to happen, I’d have some buffer Additionally, looking at the opportunity cost of ceasing my Roth IRA contributions in favor of paying off the car loan just wasn’t something I wanted to do. Since you can’t contribute after the tax season ends, I’d be out all of those contributions, plus the compounding over 35 years. Some nuance is always good when weighing your options financially Follow me @robeverydayfinance for more personal finance you weren’t taught growing up #PersonalFinance #personalfinancetips #financialliteracy #debtpayoff #debt

Rob | Everyday Finance

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Thursday 03 September 2026 18:30:47 GMT