Home motorcycle price DAVE SAYS: Be careful when it comes to paying off your credit...

DAVE SAYS: Be careful when it comes to paying off your credit card debt | Local businesses

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Dear Dave: I really feel blessed. Even with everything going on these days, I still have a steady job and a good income. I am considering withdrawing money from my savings account to pay off my credit card debt. What do you think about this idea ? -Erine

A: It’s not a bad plan if you’ve gotten to a point where you understand certain things. Credit card and debt aren’t the real problems. These are symptoms of buying things you probably don’t need with money you don’t have. You have to look at yourself for a long time in the mirror, because the person looking at you is the real problem.

If you can accept this and commit to changing yourself and your financial habits, I would say go for it. Don’t erase your savings in the process. Leave a lot of money in there, especially at this time when so much is uncertain. Also, be sure to cut that credit card, close the account, and promise yourself that you will never use these things again.

Once you’ve done all of that and start living on a written monthly budget, replenish your savings as quickly as possible. Saving money is always a good thing. And everyone needs a three to six month emergency spending fund for the unexpected things life throws at you!

Dear Dave: Do you have a ruler for how much money to set aside for home repairs and maintenance? – Bobby



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