conversation: User (Optimus_Cheshire): "Hi. I accrued a lot of credit card debt by using my credit cards to pay for my last year of college and to help out someone who needed help. The debt is spread across two credit cards. One is at $6000 and the other is at $9000. I was thinking of spending nearly half of my savings on eliminating one of the credit cards and then keeping the rest of my savings on-hand for when I relocate for a new job. I'll be making a decent amount of money each month...I'm estimating that after required expenses like food, rent, gas, car, etc, I'll have about $1500 in disposable income each month.\n\nIs my plan sound? My plan is to pay off the smaller credit card and keep the rest of my savings for emergencies, because this current job will last three months (it's an internship) unless I do well and get hired full-time afterwards. During this time, I was planning on throwing almost all of the disposable income against the remaining large balance on credit card #2.\n\nI do have other debt (car loan and a student loan from the first three years of college) but right now I'm concerned with just the credit cards because they are higher interest balances.\n\nOnce they are paid off I don't intend on ever using a card to help people ever again. "
  Self: "Credit card debt is the worst kind.  You sound like you have no dependents and a life that can comfortably tolerate income fluctuations.  \n\nPay off the C.C immediately and rebuild the safety net with your work income.  You can always get another job or work part time to supplement your lifestyle choices.  Carrying C.C debt, in your situation is financially the last thing you'd want to do.\n\nThink of it this way, there is literally no investment today that will pay out the equivalent interest you are paying on that debt.  Therefore, since you have the capacity to pay it off, do it."
  User (Optimus_Cheshire): "I have a check coming in from my current job in two weeks and I won't get a check from my new job until two weeks after that. If I pay off everything in two weeks, I'll have very little savings (but in theory I should still end up making enough money to stay afloat until I recoup). Is it worth the risk of potentially having very little savings? What if I get laid off and no longer have credit card debt but still have to make payments for my car, food, rent, etc? I'm a software engineer intern so I should be able to find employment but you never know..."
  thiscontent (thiscontent): "&gt;pay off the cc immediately "
  