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August 25, 2023 at 4:13 pm #86984USER
Not sure what to do.August 25, 2023 at 4:13 pm #86985Margaret
And you wouldn’t have to pay interest. Or maybe use 1/2 of it just in case.August 25, 2023 at 4:15 pm #86986Myra
Get that debt off your shoulders, no more interest payments, and better motivation to build savings back up! It’s easy to let the hole of credit card debt to intimidate you- put it behind you!August 25, 2023 at 4:15 pm #86987Laurie
Yes, if it’s at a high interest rate , pay it off and then start saving again. And, stop using the card.August 25, 2023 at 4:16 pm #86988Myra
Pay half of it…. The payment will go down.August 25, 2023 at 4:16 pm #86989Hugo
NO! Get another credit card that offers interest free balance transfer up to 18 months. Try to pay it all off in 18 months then do the same thing over again..
The one time fee u pay is less that what you’d pay in interest.August 25, 2023 at 4:17 pm #86990Jeanne
$1000 in an emergency fund and the rest towards the credit card. Then work towards paying it off completely. Cut up the card and start paying cash.
You’ve got this!!August 25, 2023 at 4:17 pm #86991Ramona
Pay it off and start saving again…
And maybe only use the credit card for gas/groceries and pay it off each month.August 25, 2023 at 4:17 pm #86992James
Yes! Do it! You’re getting hit with 20% interest or higher w/ a CC. You’ll rebuild your savings super fast once out of debt. Imagine all that interest that was going to the bank going to your savings!August 25, 2023 at 4:18 pm #86993Cindy
Keep $1000 in savings for emergencies so you don’t need to re use your credit card.
Then pay off your credit card because you are paying more in interest to have your credit card than you are making in interest in having savings.August 25, 2023 at 4:18 pm #86994Nikki
6 months of emergency funds should be available to you.
However, if you are making less in interest than you are paying, pay as much as you can.August 25, 2023 at 4:19 pm #86995Sarah
100%. Why pay interest on top of what you owe? You can rebuild your savings fast if you don’t owe all of that money, just be very intentional about rebuilding that savings and don’t use the credit card moving forward, pay for everything in cash and live by your budget.