Guru Q&A: Should I Pay My Credit Card Off With My Savings?

FiLife User Question: I have a credit card with a balance of $5,000 and I have enough money in my savings account to pay this off. Should I go ahead and pay this off so I have more money during the month to live on because it is difficult some months to make ends meet. -unicorn FiLife Guru Response: Generally speaking, I think this is a good idea. Here are some things people in situations like yours might consider. -What is the interest rate on your card? If it’s like most cards, the rate is