money management
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Posted by I need a life
(63.192.133.55) on September 14, 2002 at 16:12:08:
This is my profile (all debts are unsecured debts): $11,000 @ 4.75% (min payment $55) credit limit $12K
$7000 @ 5.9% (min payment $140) credit limit $12K I know it'll take forever to pay off my debt if I only pay the minimum. So I'm trying to pay as much as I can to get rid of my debt and at the same time improve credit score. Now there are decisions I have to make and maybe you can give some input. Should I save some money along the way in case I get laid off (again)? It doesn't make sense right now to save money and get 1%-2% on savings. I'm thinking about saving emergency money to keep me alive and be able to pay the minimum for 6 months in case there's another lay off. I received a 1.9% APR to transfer balance without a fee but only good until Feb 03. I'm thinking of doing a partial transfer for that $7000. Or will it be better to do it for the $11K since the gap is so close to credit line? TIA.
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