Using Savings to Pay Off Credit Card Debt?

Debt

Hello. I am contemplating what the best steps are to pay off my debt and save money.

I have about 21K in a HYSA. I also have about 12K in CC debt spread across 4 different balance transfer credit cards. One is expiring in October that has about 4K on it. Up until this point I was making about 1500 biweekly. Basically 30$ an hour and my employer essentially wouldn’t let us get 80 hours even tho we were full time. Each day was roughly 7.5 hours. ANYWAYS. I also put into my 401K about 7% which gets matched. Monty debt includes 1,250 in rent, 30$ for WiFi and 30$ for AC, 100$ phone bill, $222 car payment and $180 car insurance. $200 gym membership (which I get wellness money from my company so about 6 months is covered by that) EZ pass is like 175$ monthly. Gas weekly around $60. Groceries about 50/60$ weekly. Occasionally coffee here and there maybe $7 a week.

I recently just got a new job making 70,000. With a quarterly bonus but I don’t think I should be favoriting that in just yet. As of October 1st, I will no longer be paying rent and once I start my new job I will get a company car. So a lot of those expensive will go down however I will need to find a place starting to live in November. My question is I need help budgeting and also I have larger CC debt. Do I take the money from my savings and clean up all my debt leaving me with less than half my savings or how do I go about this?
I want to be better at planning and saving for the future. Thank you!

Posted Sep 25, 2026, 5:07 PM UTC

010
Loading comments…