Hey all.
I'll cut right to it: I want to bounce an idea. I've currently got about £9,500 in savings (1.5% AER so it's growing, slowly) and I'm over-paying £300 a month on interest free credit card balances, totalling about £5,500.
I'm thinking it might be better to clear the borrowing and commit the £300 I'd normally pay to savings, along with my monthly sweep of "whatever I've got left".
On the one hand, it's nice having the money in savings but I'm not able to put much towards it at the moment on account of things like rent, bills, food, diesel, and so on.
On the other, I'd like to have zero debt just so I know that all my spare cash can go back into building up my house deposit fund.
What would you do: Clear the debt now and bud up the savings again, or leave the debt to run on the current rate of payments for about another 21 months?
All answers appreciated!
Submitted December 26, 2018 at 10:11AM by alltid_forvirrad http://bit.ly/2QR1foG
