I received a nice raise at work and will now be able to focus on my credit card instead of just paying the interest charge each month.
It's $3,500 and I reckon I can have it paid off by Christmas. My question is: should I put the extra money from my paychecks in savings until I have $3,500 and then drop it on the card, or simply drop all of my extra money on it every week until it's paid off?
I originally planned on doing the latter (lower balance owing each month = lower interest charge) but I keep hearing of people doing the former. Am I missing something that makes the former a more tactical approach?
Thank you!
Submitted August 17, 2017 at 01:59AM by screwedphilstudent http://ift.tt/2x6Ef6u
