I love the trouble account. Thanks for sharing!

I agree with the first poster. Follow Dave Ramsey's plan. Keep $1000 for an emergency fund. You want something to be able to fall back on if your car breaks down or some other emergency arrives. Dave Ramsey also says that you should close all those accounts, so you don't use them again!

Congrats on your way to being debt free! It is the best feeling in the world. We paid off 10,000 in credit card debt and now we are off to paying off our cars!

I would pay off the credit cards; assuming your card interest is 15% higher than what you earn on your savings, you'll have $75 a month going into your savings account rather than the bank's pocket. Even leaving $1,000 in savings costs you $12.5 a month or $150 a year. You can use your good credit cards for backup until you get your savings built back up.

I use my credit cards extensively. I have to carry either cash or cards and I like the paper trail the cards leave; I can alway see where my money has gone with my cards and primary card is a reward card, so I get a rebate on every dollar I put on the card. If I can not pay it off at the end of the month, it goes in the drawer and doesn't come out except for absolute needs.

I'm lucky that I have savings and am extremely anal about paying off my cards every month. I keep part of my savings in food in the pantry, just in case I can't pay the bill.

okay so im only 19 so i dont know everything you need to know about money and debt but in my opinion i think that you should keep your savings!!! what good does it do you to pay off all your debt and have no savings? if you pay all that debt off and lost your job tomorrow you would have no money in savings to live off of and would have to start charging to the credit cards again so you would end up in the same spot you are as of now. maybe instead of paying it off you could just pay more a month? theres gotta be something you can do instead of taking from your saving! i mean why save $6,000 just to pay your credit card... you save so you have it if needed not to pay bills! and dave ramsey is good but whats a $1,000 gonna do you incase something happens? that like nothing to live on its a start but thats not enough period!

Hi Jaelahd

I was wondering if you would tell me the name of the book which you were referring too?

thanks in advance

Jmm