Before the recession, Suze says she would advise anyone with a severance payment or a small lump sum to put it toward debt. But as the economy changes, so must your financial strategy, Suze says—which is why she's changing the advice she's been giving for years. "If all you currently have is a very small emergency fund and you have unpaid credit card debt, ... you are only to pay the minimum amount due on your credit cards," she says. "Stash the cash till you have at least an eight-month emergency fund."

Calculate the interest your savings account will make.

Paying only minimums doesn't give you the license to rack up a bigger balance. "No credit card usage, everybody," Suze says. "Pay for things in cash."

Learn more about Suze's new credit card advice

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