Dear Dave,
We’re following your Baby Steps plan, and we’ve paid off all our credit cards. But when I talked to my husband the other day about cutting up the cards and closing the accounts, he said he would rather keep the accounts open and the cards locked away in a drawer for use as an emergency fund. He says this will help us have an emergency fund in place quicker than saving for one. I think there’s more behind his reasoning, though. He grew up in a very poor family, and I wonder if he’s not afraid of somehow ending up in that kind of situation again. What can I do to convince him to follow your advice?
