(no subject)

[alexseanchai]

Between Christmas and not spending shit, amazing how the money piles up. I seem to have four hundred dollars to spare. That's more than a third of my current goal for the rainy-day fund (goal, $1000, current total, $0). That's also enough to pay off the lowest-balance credit card (current total, just shy of $400). But not both.

Advice?

ETA: Taking the advice to put $100 in savings and $300 on the card. Next paycheck, this sucker is going down.

Comments

[jamethiel]

... the rate on the credit card will be higher than the interest you earn on your savings account. I liked red_trillium's suggestion--pay of 3/4 of the credit card, cut down your interest, pay the rest out with your scheduled payments and set the $100 aside in your rainy day fund.

You will not BELIEVE how big a relief paying off credit cards is. Particularly if you can have a sign or something saying you've done it.