Hi everyone, I made a post yesterday about my credit card debt and needed some extra advice.
I owe $2,600 on a credit card (I made a payment laser night) with an APR of 18%. I make about $780 a month since I’m a graduate student who can work very little sadly. My savings are $2,700.
Should I use a big chunk of my savings to have a lesser monthly payment or just use money I get from future paychecks? I was planning on paying this off over a 6 month period. Without using my savings, I’d owe around $430 a month, but with savings I could lessen that. The idea of using my savings scares me is the issue, but I’m not sure what to do.
Also, I don’t know a lot about finance so I’m sorry if I sound like an idiot, I’m trying to learn. Thank you!
Submitted September 04, 2021 at 10:08AM by Bluebluecanary https://ift.tt/2WMHzWG
