Would you save or pay off debt? Help me decide! - Page 2

[becoming]

Originally Posted by lisalulu

Oh I see. So maybe if it makes you feel better you could save the 1500 and just pay those two bills out of your extra next month?

I think that's mainly what we've decided, although we found out that the pay-off on the student loan is only $400 rather than the $700 we were estimating, so we're definitely paying that one off now. That alone will save us $50 more each month, and we've been paying on it since 2002 (!), so it's past time for that one to be gone!

So I'm going to save a little over $1000 and send the rest for the student loan. We actually have two checking accounts and use one of them for a "savings" account -- we have been putting DD's father's child support in that account and paying off bills gradually with it. I need to look into changing this to an actual savings account that builds interest. But until then, I'll put this extra money in that account. We don't have checks or debit cards for that account, so we actually have to go to the bank to draw the money out.

Thanks for the advice, everyone! It helps to get opinions from people who are outside the situation.

[Mamm2]

Pay off the debt and put away what you would have been paying into an emergency fund.