Listen up! I have changed my credit card strategy.
Regardless of your overall credit card debt, if you have very

little saved in an emergency savings fund, I want you to

make a shift in your financial strategy. My new advice is

to focus on building up as much savings as you possibly

can. With rising unemployment rates, having a larger

emergency fund is vital, even if it means you are only

paying the minimum due on your credit card balance.

What do you think?  Will you focus less on debt elimination and start building your savings again? For the longest time we’ve been focusing on debt elimination but with tough times and folks losing their jobs, it makes sense to stack your savings now for a rainy day.

I go back and forth about whether or not we should use our savings to pay off the rest of our debt.  We have about $35k in savings and the Rudder forecast is pretty good to build that to $50k by the middle of the summer.  I don’t want to put off finally becoming debt free but I do want to get to $50k in savings and then use a portion of that to pay off our debts.  I can admit that it’s a numbers game for us but I at least want our credit cards paid OFF.     Luckily for me, my income has doubled over the last month or so so we can split my income between savings and debt in addition to my husband’s income.  Decisions, decisions.