I desperately want to be debt free. So much so, that I've been thinking about suspending my automatic savings deposits. I've been considering it a while, but at first, the interest rate on my savings account was pretty decent. As we all know, though, interest rates for savings accounts have been in free fall since last year.
My idea is that rather than that amount going into my savings account, I could put it toward my debt. While it's not an insignificant amount, it would go a decent way toward helping me knock out the debt a little sooner. Of course, it would definitely affect my savings goal of $10K for 10/10/10.
My fear, though, is that I'll get out of the habit of saving. And I like seeing my savings grow. I really do.
Maybe I could make myself a deal -- I can suspend my savings deposits but only after I have a certain amount socked away.
So ... what to do? I don't know, but I welcome your suggestions.