[Ramiro]

Cut cost, payoff the credit card and live within your means until future career endeavors improve. This too shall pass.

[Tweetie]

are you going to reduce your expenses so that you can actually stop using the card and not run the balance back up?

[Allison]

Why pay interest you don’t need to pay. I’d use the funds

[Sandra]

I just paid a $6,500 credit card and I made that money in one month of babysitting (I live in LA so I charge minimum $30 per hour)

I’m not sure if your wife would be interested in doing this but it doesn’t feel like a job.

I personally wouldn’t touch my savings because I know how hard is to get to that 20k milestone but this is only because I sat the goal to pay it off in a month.

Otherwise I agree with paying it off from your savings.

You want to avoid the credit card company closing your account and impacting your CS.

[Mike]

I’d pay it off immediately, cut costs to live within your means or earn more income.

[Sophie]

Can you transfer to a 0% credit card and keep it there until your wife finds a new job?

[John]

Pay it off and reduce costs to live on only one income. And save some as well to rebuild the emergency fund

[Julie]

How much is the interest for the credit cards? If it is like 21%, I would pay off the credit card first.

You aren’t making that in interest in your savings.

During this time, I would cut out all unnecessary expenses so you do not accumulate more debt.

[Sarah]

I am not speaking for a financial expert situation, but for my peace of mind, no way could I spend savings in bulk if I didn’t HAVE to while one of us was out of work.

I’d do what you mentioned – some plan like “we’ll do X until/unless, then we’ll pivot and do y.”

Maybe paying off the credit card can be the thing done when she gets the jobs, and/or savings can be what holds you over vs the credit card.

[Author]

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