credit card debt

Hi Terry,

Is it advisable to take money from our savings to pay off credit card debt?

Thanks!

Terry Says:  Let’s make this simple:  What interest rate are you earning on your savings? // What interest rate are you paying on your credit card debt?  I’m pretty sure the answer will be obvious!

You never want to be without any savings for emergencies, though.   So pay as much as you can and make sure  you don’t get into this situation again by taking the card out of your wallet!