Best decision?

2/22/2011

3 Comments

 
I was having dinner with my ex last night and we were talking money. He suggested I take my little bit of savings I have and pay off my credit card and car loan. Both being 19% interest, it does make sense. I am just scared of not having any money in case something happens. For example my car breaks down, or even if I have a bad month at work. 

Now, not having a great deal of knowledge and experience I am asking for your opinion! 
What would you do? Pay off the credit card and some of the car, or keep the savings?
3 Comments
LC link
2/22/2011 07:22:28 am

How much savings do you have? I see your credit card is only at $400... if you have enough to pay it off in full, I would, but ONLY if you can promise yourself that you won't rack up debt again. Credit card debt is the worst debt to have (even though you hardly have any!).

:)

Reply
burns_jes
2/22/2011 11:02:58 am

Thanks, I think I might wait for my first paycheck in March, then just go ahead and pay it all off!

Reply
Ashley link
2/28/2011 07:18:11 am

Definitely pay of the credit card bill, while still keeping a good chunk in savings. For your car payments, make two payments a month for a little more than your payment - Example, my car payments are $258, but I pay $150-$200 twice a month. This helps with the interest.

Reply



Leave a Reply.