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So, I have been working on paying off bills this year and I am working on my big credit card now. I currently have over half of what is owed sitting in my savings account. I had planned on waiting until I had it all and then paying it off, but is that the smart thing to do? Should I pay what I have now on it or just continue on like I'm doing? The reason I was waiting was in case an emergency comes up or something along the way and I had to have some cash quick, then I could use it from my savings. Just curious about which is the better way to go.
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Re: Credit card payoff question
are you paying intrest on this card? the more you pay off the lower intrest amount you pay....i understand a rainy day fund, so maybe pay out 60% of what you have now....just a thoughtHE WHO MAKES A BEAST OF HIMSELF, GET'S RID OF THE PAIN OF BEING A MAN!!
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Re: Credit card payoff question
Yeah, I'm paying interest on this one. That is a thought. I may end up doing that."He woke up because I kept punching him in the face." --Thiago Alves
"I'm telling you, once your car's been stolen, it never runs the same again. It's like a guy sleeping with your girl. He leaves his mark all over her."- Drama (Entourage)Comment
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Re: Credit card payoff question
i would pay as much as you feel comfortable so you aren't eating interest. I hate interest and i have let my card get a bit high here lately. Gotta go in to pay off mode.Comment
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Re: Credit card payoff question
I hate credit card companies. What a bunch of thieves.Comment
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Re: Credit card payoff question
Me too! I'm done with them after this is paid off!Originally posted by Dzone View Post"He woke up because I kept punching him in the face." --Thiago Alves
"I'm telling you, once your car's been stolen, it never runs the same again. It's like a guy sleeping with your girl. He leaves his mark all over her."- Drama (Entourage)Comment
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Re: Credit card payoff question
Yep, I got rid of credit cards a few years ago and now just use a debit card. Life is much better. If I dont have the money in the bank or the money in my wallet to pay for something, I aint buying it.Originally posted by tn94z View PostComment
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Re: Credit card payoff question
credit cards have saved me a few times BUT are costing me in the long run now! I would say for your credits sake is to just pay a third of it monthly, the third from what you have saved, acoording to what i have been told having a moderately low balance and paying slightly over the minimal balance each month OR buying something affordable that you already have cash for and paying that item off on the next monthly payment is also a credit score booster. I also could be wrong..... I am floating in the debt boat right now and I just wanna not have anymore dang payments so they are getting as much as i can give on mine!"To gain strength on the outside it takes a greater strength within!"
I'm not trying to be better than anyone, I am just trying to be better than who I was yesterday.Comment
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Re: Credit card payoff question
Try to maintain at least 2 monthsoiving expenses and use the rest to pay it down.Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master. George Washington
I do not condone the use of, nor do I use anabolic or androgenic steroids. My participation on these boards is for informational purposes only. I have done extensive research of AAS and enjoy discussing them for role playing enjoyment.
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Re: Credit card payoff question
that's typically the rule of thumbOriginally posted by JsJs24 View PostComment
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Re: Credit card payoff question
Yeah pretty standard. I prefer one year or more myself, but for people trying to get out of debt a two to three month safety net is sufficient for most emergencies.Originally posted by skinnyman View PostGovernment is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master. George Washington
I do not condone the use of, nor do I use anabolic or androgenic steroids. My participation on these boards is for informational purposes only. I have done extensive research of AAS and enjoy discussing them for role playing enjoyment.
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