I graduated, in may from a good college, with a good degree, about $50 in the bank and $6,500 in credit card debt.
I have paid off all but $1,500 of the CC debt and built up a savings account of $1,500. My interest rate is 15.99% on the CC debt. My question is should I pay of the remainder or continue to pay it off at my current rate and keep the cash reserves. I should have it paid off 9 weeks, regardless.
Once the CC is paid off I will be able to save about $900 a month plus, maximizing my employers 401(k) contribution (which I am already doing).
The thought of being so close to paying it off and having the cash to do it with would be such a stress reliever!