Hi,
I got a new job this year that has allowed me to save heaps of money for the first time.
I have an outstanding credit card debt that is significantly less than the money I’ve saved - I’ve been paying it off partially every month alongside putting away savings into my saver account.
Is it better for me to use some of the money I’ve saved to become debt free on the CC, or to keep adding that money to my savings account accruing interest while making payments above the monthly minimum on my CC (hence avoiding accruing interest on that debt w/o it being totally gone) if that makes sense?
I got a new job this year that has allowed me to save heaps of money for the first time.
I have an outstanding credit card debt that is significantly less than the money I’ve saved - I’ve been paying it off partially every month alongside putting away savings into my saver account.
Is it better for me to use some of the money I’ve saved to become debt free on the CC, or to keep adding that money to my savings account accruing interest while making payments above the monthly minimum on my CC (hence avoiding accruing interest on that debt w/o it being totally gone) if that makes sense?