Maybe a simple question but I still want some advice.
Right now I'm sitting on about 8500 in savings, and 3K in credit card debt. At the end of this month I will be using 4500 of my savings for a bill from my university (finishing my masters degree and didn't want to get another loan for it) as well as the down payment and first months rent on a new apartment. (1.5K and 3K respectively).
More info about my life - I have 50K in student loans and 30K left to pay on my jeep. I pay 1200/month rent and the rest of my bills total to about 800 per month. I make about 3800/month and try and save at least 400-500 per month for my savings... although that doesn't always happen. I'm currently working on reversing some of my spending habits with some success (less beer, meal planning, cancel some subscriptions, etc).
So the question is simple. Should I effectively deplete my savings to rid myself of the credit card debt and start from scratch on the savings, or should I pay off slowly with very restricted spending?
I appreciate all your help!
Edit: thought I'd also mention - I have 700+ credit score... so I'm pretty happy with that. Not sure if it should effect the decision at all.
Submitted June 25, 2017 at 11:17AM by HikerTom http://ift.tt/2t9Bcwc
