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Money and Finances
Reply to "Need HELP from the financial people!!!"
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[quote=Anonymous]Sorry, but these replies make no sense to me! Why is everyone telling her NOT to use the savings? i wonder if you read it wrong. She is NOT asking if she should use retirement/college savings. They plan to keep that intact. They have $50K in savings, and only need to use $10K. This leaves them with $40K, which is a pretty decent emergency fund. Isn't this what a savings account is for? I would call this a financial emergency, and it would be smart to dip into savings. It will save the family a lot of stress. OP, cut up the credit cards. Don't wean yourself - just cut them up. Save one for emergencies though. Use your $10K to pay it down. then come up with a solid plan to "repay" that $10K, after paying the rest of your debt. [/quote]
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