The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Should I pay off a cc with my ING fund? Date:  1/23/2006  5:14 PM
Author:  TMF2Aruba Number:  219119 of 309666

I hate to watch you struggling to meet other expenses down the road a bit, simply to wipe out a single bill right now.

I'm with Nancy.

Financially, when you get down to it, yes, you'd save a little money by using your ING to pay off the CC debt once the rate increases.

But that said, you'd be raiding a very important emergency fund that allows you to sleep at night knowing that there's cash available should the unexpected happen. It's a good feeling.

Now, the Fool in me would argue my own point by saying, "True, but if there were an emergency, you could fall back on that card."

But then, there's another part of me (non-Foolish? more Fool