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I have $300 left from my dh bonus. I want to pay bills but I'm not sure what to pay. I have a few small misc. things (movie club, hospital bill). I could pay ahead on some monthly bills though. I'm not sure what I should do. I also have a bal. of 300 on a credit card. Any thoughts?
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I would pay off the credit card one less bill paid in full.
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Hands down the credit card. The interest on that is probably the highest and you will be paying a lot more than $300 if you don't pay it off now.
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Either the credit card or put all or at least half into savings. No need to let it escape your hands.
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Thanks. I think I'll pay off about half the bal. since I just checked online and its about $400! Whoops. I'll put a 100 in savings. Hopefully, dh won't go through the roof. He hates to part w/ money.
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Credit card! You will feel so much better after! In January I get my school grants and loans and although there are a MILLION things we would like to do to the house I am putting over $2,000 into two credit cards we have been paying on forever.
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Originally Posted by hschmid
Thanks. I think I'll pay off about half the bal. since I just checked online and its about $400! Whoops. I'll put a 100 in savings. Hopefully, dh won't go through the roof. He hates to part w/ money.
I would rethink that. Don't mean to harp on this, but unless your savings account is earning 18% interest (or higher than whatever your credit card's interest is) you are throwing money away every month on interest until that credit card is paid in full. You can do an example for your dh using round numbers (i.e. $100) and the interest you would be paying and receiving over a period of six months or how long you think it would take you to pay off the card. I bet you would earn more in the long run if you paid off your credit card completely now that you have the money.
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pay the card then next month you can put into saveing whatever you woud have paid to the credit card.
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Pay the card off- unless there is a higher interest rate attached to the other debts. Good for you!
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pay off the card. We finally paid off and cut up our last card about 6 months ago. We got really far behind a few years ago when dh was out of work and I was only working part time. Used the cards to live on