nicedoc
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I would pay off your debt. Look at it this way, any money you sink into your debt now is equivalent to investing that same amount of money with the same rate of return as the interest rate. It makes no sense to save it unless you can invest it in something with a higher rate of return than the interest rate on your debt which is hard to do in today's financial climate. |
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pau
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the answer is yes, pay it off the credit card in full |
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Sandra C
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Absolutely pay it off. It's then automatically like earning 18% (or whatever your rate is) on your money. If you happen to have a rate lower than what you can earn on the money in the bank or stock market, then it would be worthwhile. But credit cards have notoriously high rates, so that's unlikely. |
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Shin Chan
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Yes, pay off the credit card debt. Or provided u have a guaranteed return which is higher than the interest rate you paid for the same period which seem impossible to have.
So, definitely pay-off the debt. |
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delerue
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I would pay off the credit card debt immediately as you will not be able to earn the same interest rate that the credit card company charges you on the $4K outstanding balance if you invest the $6K yourself. Please pay it off and do it fast! |
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elaeblue
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Paying it off means paying less money in interest on it. I would pay it off, use half of the 2000 on home improvement and half on savings. |
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alex3179031790
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pay it off you will feel much better and the money oweing want constantly be in the back of your mind |
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FraSpa
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Yes... pay the credit card and get it over with. You will feel relieved afterwards. |
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Lynn
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Paying off your debt is a GREAT idea! |
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dyna05babe
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Yes you should avoid carry a balance on any credit card. If you can't pay the bill at the end of the month then don't buy the product.
Now you should take what you would pay to interest each month and put in your savings. |
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G.V.
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Pay it off. Why pay interest on it when you can be free and clear? Get it out of the way, and then you can use the remaining 2K toward your goal of an emergency fund of 6 months pay. |
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atesyrup
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my, my ,my i can't believe you even had to ask that question. with interest rates as high as they are . YES! pay it off! completely. |
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K C
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pay the credit card off! you will save so much money in interest! it will also raise your credit score even higher. keep some activity on the card after that but only as much as you can pay off at the end of each month |
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XYZ123
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pay your debt first |
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Fuego
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Yeah you should or you'll get someone from india calling you who doesn't know how to speak english like apu from the simpsons. |
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La Vie Boheme
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It depends on the interest rate. |
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