Quote:
Originally posted by Samueul:
Quote:
Originally posted by NY Madman:
[b]
Quote:
Originally posted by Samueul:

[b]I currently have three cards all with a combined balance of less than $10,000.
If you have savings and are still carrying a credit card balance, you are doing the wrong thing. You are screwing yourself.

Use your savings to pay off the credit card balance. It makes no sense keeping money in your bank account and carrying credit card balances. You are losing money by doing that.[/b]
Madman, you are correct and that's what we are doing, but we keep some liquid cash in savings for "emergency" reasons. Perfect example, our washer bellied up on us last month and we took the $600.00 out of savings to replace it.[/b]
Same here. We keep a buffer of funds so we can AVOID using credit. We're slowly paying cards off. We close on our refi later today and the lower house payment will help us pay them off faster.
_________________________
Kevin
- 2008.5 Titan SE 4x4
Burgy --- Nissan Offroad Association of the Southeast