Thought if this doesn't exist we could use this post for Q&A people have on what to do with their money. Really it was just so I could get feedback from my current question, but could also use as advise for others questions if they have any.
So its March 2022 - I'm debating whether to payoff my car loan or do something else with my money. For liquid assets breakdown, I have:
- 73% in an emergency fund in my savings account (~4 months of my take home income)
- 8% in crypto
- 19% in stocks.
My outstanding car loan balance is 80% of the total liquid assets I have.
If I wipe out my emergency fund it would take my ~10 months to build it back to the 4mo. coverage amount I currently have without changing my lifestyle in any major way.
If I pay off my car loan, I figure I'll save about $1k in interest over the next 2.5 years if I were to just continue with minimum monthly payments. So do I payoff the car loan now all at once now, or do something else with my money?
