Is it better to save or Pay double?

  • Thread starter Thread starter Carolina H
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Carolina H

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So im $5000 in debt. And i was wondering if it would be more beneficial to save up $5000. I would save $600 for 9 months. Than when i would have $5000 i would just pay it. But in those nine month i would still be makeing the minimum payment. where i would probably not owe 5000 it would be less. Or would it be better if i would just instead of saving the $600 to pay more on my 2 credit cards? Im really trying to get out of debt this year....it was my new years resolution. lol....Thanks for any help.
 
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