I was putting 10% of my check into a savings account for years thinking it was smart.

My buddy asked me last week what rate I was getting, and I realized it was only 0.01% while my credit card debt was at 18%. I was basically losing money every month by not paying that off first. Has anyone else had a wake-up call about where to put cash when you have debt?

3 comments

3 Comments

lily_young5923d ago

Consider the peace of mind that separate savings gave you, though.

grace92623d ago

My 0.01% savings cost me over a thousand dollars in credit card fees last year.

amy3022d ago

That's brutal, I feel your pain.