Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Ed,

I recently went through the same mental exercise... I don't have the safety cushion I would like, but I also have credit card debt. I have been splitting my payments between credit card debt and a savings account. One day a better solution came in the mail (this is sounding like an infomercial). I qualified for a 0% credit card offer until March 2002. I transferred my balances (no fees) and began putting all my money in the savings account (5% interest). Next March I will withdraw the required amount and pay off the credit card debt. The remainder will serve as an emergency fund.

I'm not sure that this helps you, but I thought you might want to hear one solution.

Jeremy
Print the post  

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.