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CC#3 decision

March 22nd, 2013 at 07:45 pm

I have been pondering cc#3 a LOT lately.

Why am I slowly paying off that debt, when I could pay it off with savings and then rebuild savings.

If I pay the cc off now, I will still have about $5k in the emergency fund, and I will have the savings repaid by year end by paying savings back with the payment schedule I had planned for paying the credit card.

So, I did it. The payment is all set for Tuesday.

Now, not to hyperventilate too much. Big Grin

16 Responses to “CC#3 decision”

  1. scottish girl Says:

    Wow, congratulations!! Smile

  2. twest Says:

    Congratulations! You decide to do something and there is no stopping you! Way to go

  3. MonkeyMama Says:

    Way to go!

  4. ceejay74 Says:

    Nice work! Once you get on a roll, you develop a taste for it, huh? I'm itching to pay down more debt, but I know I should wait until payday ...

  5. creditcardfree Says:

    Congratulations! I understand your nerves...and I did it with a smaller amount with our truck loan. Better to owe yourself then a lender. Smile

  6. snafu Says:

    Wow! Good on you! With savings rates so low, buying power is lost to inflation. We're being told to expect escalating food costs and higher interest rates. It seems smart to pay off an interest generating CC. How much do you save in interest payments between March & December?

  7. Thrifty Ray Says:

    Thanks all-

    Snafu- I will save over $400 in interest. Smile

  8. Ima saver Says:

    Nice going, Ray!

  9. MonkeyMama Says:

    Extra wow!! (That you will save $400)

  10. Bingo Says:

    Awesome! Good move.

  11. Bingo Says:

    Awesome! Good move. So just curious, what debt is left? All the debt on your left summary is gone, baby! Are you done except for mortgage?

  12. Thrifty Ray Says:

    Bingo- I still have debt under the 2014 area...a car and another old consolidation mistake. Frown But, I am making payments on those and the larger debt will start getting serious attention soon!!

  13. FrugalTexan75 Says:

    Go Ray!

  14. LuckyRobin Says:

    That was a big step to take, but it sounds like the right one. I did a lot of dithering myself when I was paying off the final card. I think that's pretty normal.

  15. rob62521 Says:

    Way to go! You are a thinker.

  16. North Texas Mommy Says:


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