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Do I have the right idea in mind? I figure my extra cushion on my savings account will have to wait cause I can always charge my cards back up again if I lose my job. I RECENTLY DUMPED $5000 in savings to pay the credit cards down to $4900 from almost $10000.

Dear Flyers,

Welcome to the Motley Fool!

I think it's terrific that you are agressively taking control of your finances. I agree with some of the advice provided by the previous posters, and I wanted to add a few Foolish links so you can read more.

First, we have and excellent 'Dig Yourself Out of Debt' feature that has ideas and tips about how to pay off debt. There's a terrific discussion board, as well, where you will get advice and moral support. You'll find it at:

As for the student loan, here is a link to an articles that may help you learn about reducing the interest rate:

We also have a 'Paying Back Student Loans' board where you can get feedback:

I would also recommend that you look into our new 'Where to Stash Your Cash' crash course. In this course, you learn about the various ways to safely and effectively save your short term cash. There are some good saving strategy outlines too. If you would like further information, go to:

Good luck! Fool on!

Karen Kosoy
TMF Karen

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