Should I take out this money and pay off my credit cards?

I have $1200 saved in the bank but I%26#039;m about $2000 in debt.

Should I take out this money and pay off my credit cards?

Should I take out this money and pay off my credit cards?

You%26#039;ll save more in interest by paying down your debt than you can earn by keeping money in the bank, so the short answer is yes. But the long answer is that you should keep enough in there for a rainy day (to cover a visit to the emergency room, get your car fixed, etc) so you don%26#039;t get caught flat broke if something comes up. Good luck!

Should I take out this money and pay off my credit cards?

The first thing that you should do is cut up your credit cards - then pay them off.

Should I take out this money and pay off my credit cards?

Look at it this way... the money is earning you about 3% interest. But you%26#039;re paying 12-17% interest on the credit cards. Pay them down.

Should I take out this money and pay off my credit cards?

May be some of it. Remember the credit cards all have high interest rates on them %26amp; letting the payments drag out costs you more in the long run.

Should I take out this money and pay off my credit cards?

You should definitely pay down some of your CC debt. Try transfering your balance to another credit card with a lower interest rate, and then try paying down your balance,always paying more than the minimum. Do keep some of your money in the bank though because you may need your savings for an emergency.

Good luck!!

Should I take out this money and pay off my credit cards?

The simple answer is yes.