brought to you by the every dollar app start budgeting for free today joey's going to kick us off here

in greenville south carolina joey how can i help today hey um i had a question about paying off my debt in

cash um and i want you guys to try to convince me to pay it off in cash when I make more money

in interest with that cash being in a high-yield savings account than I do on the interest rate

on the loan.

Ooh. So you want a spirited debate here is what you're looking for. Kind of approve me wrong.

Yeah. Yeah.

Okay.

Well, I'll see how far I can get.

You sound like you found a wealth hack.

A little bit, I guess you could say.

How much debt do you have?

So I have $14,000 left on, it was an initial $25,000 personal loan at 2.99% back in 2020. And the terms were five years with 18 months of deferred payments. Okay. And it's at 14K now, still at 299?

Yes.

And how much money do you have in savings?

I have about $34,000 in cash, $50,000 in stocks and mutual funds, and then about $5,000 in a 401K.

All right.

So what are your goals?

My goal is in about a year from now, 12 to 18 months, to purchase the home.

Okay.

And so is that what the cash is for and the stocks?

Would you cash the stocks out to use as a down payment?

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