This Christmas break when I went home for the holidays my family has persuaded me to pay off the two credit cards I don’t use. Those two are just sitting in a drawer collecting dust and I’m making regular payments on them but I couldn’t really think of a convincing argument as to why I don’t pay those off other than it makes me feel better to have X amount of assets. Well, to pay those off I’m going to have to use up my “emergency” savings. What argument is there really?

The total debt is less than $2,600 but that’s more than half of my savings. The amount I have saved up is just pocket change compared to what most people have saved up but it’s my hard earned money. Although my net worth is going to stay the same, my assets will be dropped heavily!

I’ll have to do this next year when my interest for the savings account goes through, then I’ll pay everything off on my Citi Diamond Preferred and BofA World Points. Those two credit cards I’ll just be able to crumble up and toss away. However, Citi has been treating me extremely well and they sent me a letter asking what they can do for me regarding reward points, lower APR, and other services.

Also, I just got money for Christmas. Money is the best gift of all.

This entry was posted on Thursday, December 27th, 2007 at 10:30 am and is filed under Debt, Plans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.