Should I try and save for a couple months or continue dumping on my CC debt?
This has been a very slow burn, I still have about $15,000 to go. BUT some small celebration first, I was floating at $22,000 in CC debt distributed between 5 cards and felt like I’d pay off a couple thousand but then be right back up. I finally got a budget book, adjusted my lifestyle, and started dumping on my cards with APRs. I’m now done to 2 cards (whooo), one that I’m hoping to have paid off by June, and then my largest card, that has $14,000 but 0% APR until July of next year.
I’ve been putting about $1200 a month towards the second to last card, but am wondering how I should go about the big card. Since it has 0% APR for almost a full year, I’m considering setting some money aside as an emergency fund. I feel like it’s the luck of the draw, I’ll pay down my debt, something stupid will happen like a tire popping or my dog needing the vet, and then it’s right back up, but if I develop an emergency fund I won’t have to use my credit card. Or should I just continue dumping on it until it’s gone, and using it if there is an emergency? More context - I’m hoping to get around $4000 in bonuses later this year, and most likely a decent tax return, all of which I plan to use for my credit card.