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12-24-2006, 12:45 PM
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#7
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Mommysavers Addict
Last Online: Today 08:41 PM
Join Date: Jul 2006
Location: Florida
Posts: 6,390
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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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