Extra Money Dilemma; Should We Buy Cancer Insurance?

Extra Money Dilemma; Should We Buy Cancer Insurance?
Disease-specific insurance is a luxury item you should only consider if you have the essentials in place. Bacho/Shutterstock
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As you know, because I tell you all the time, I get a ton of mail! Today, I reached into my virtual mailbag and pulled out two reader questions, neither of them having easy answers. But hopefully this will make you think of your own situation in light of these questions and my responses.

Dear Mary: I borrowed more money on my student loan than I need to pay for school. Should I use this extra money to pay off an 11.49 percent interest credit card balance? I am currently in graduate school, so I don’t have to start paying my student loan back until December. I believe the interest on it is around 3 percent.
Mary Hunt
Mary Hunt
Author
Mary invites you to visit her at EverydayCheapskate.com, where this column is archived complete with links and resources for all recommended products and services. Mary invites questions and comments at https://www.everydaycheapskate.com/contact/, “Ask Mary.” This column will answer questions of general interest, but letters cannot be answered individually. Mary Hunt is the founder of EverydayCheapskate.com, a frugal living blog, and the author of the book “Debt-Proof Living.” COPYRIGHT 2022 CREATORS.COM
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