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Reply to "pay off cc or put into savings?"
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[quote=Anonymous]I am about to receive approximately 4k which is what I owe in cc debt. I have 12k in savings which will cover about 3 months of expenses. Aside from the 4k, I will likely not be able to make a significant contribution to the savings or a large payment on the debt for the next two years. (Well, maybe I will get a thousand or two as a tax refund next year.) I would prefer to pay off the cc debt, because of the interest, but I know how fast 12k can go if there were an emergency or a job loss. I have two little kids. Which should I do?[/quote]
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