Quote:
Originally Posted by onewhippedpuppy
Nick, sounds like you're on a great path! Jim makes a good point, you'll never get PAID as much interest for your savings as you are PAYING for your CC debt. Knock them out, cut up the cards, and move on to enjoy life.
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I agree with this in principle but it's actually not 100% true. If you're careful and pay attention to your card offers, you can effectively ensure that any balance you carry is 0.0% apr by taking advantage of balance transfer offers. If you're paying a dime in interest, it's too much.
But you have to be disciplined enough to keep on top of it and actually put time into researching/applying/transferring/tracking all this stuff. If you do, you can save a ton.
As with a lot of things, the price of doing nothing can get pretty steep. Lazy people pay interest.