To Save or Pay

When Chuck and I moved to North Carolina exactly three months ago today, we had a pretty decent savings. It was impressive considering we made the commitment to save only a couple of months prior to leaving. I also used a large chunk of that money to pay off one of my credit cards so that we would be entering our new life debt free.  I was hoping that we wouldn’t have to dip into that account too much and whatever was left would be put towards our wedding.

Of course, that didn’t happen.

Chuck and I cooked in our hotel room for three weeks while we waited four our apartment to become available.

Not only did our savings quickly diminish, but our credit debt skyrocketed after living in a hotel for three weeks (Despite how much I love our apartment, if I could do it over, I would have given more consideration to our second choice which was available right away whereas this one extended hotel living another two weeks). We’ve since been doing most of our business in cash only whipping out the credit card when I need to put gas in the car.

After paying our bills today, I’ve come to realize that between my job and Chuck’s job we might finally be able to leave our savings alone and survive just on our paychecks. That means the money I earn from freelancing for Patch.com becomes disposable income instead of survival income.

So, the question becomes do we use that money for the wedding or pay down our credit card debt?

Looking long term, paying down our debt would benefit us more. The more we pay towards the bill, the less we pay in interest, which is about $30 a month right now. That’s $270 between now and our wedding date.

But, our vendors need to get paid and we can’t pay them with “Oh sorry, I’m paying off my credit card debt.”

It’s not like I’m making buku dollars writing one story a week so splitting the proceeds seems pretty pointless. Then again, something is better than nothing.

Honestly, the real solution is just having more money. If it were only that easy.

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