Can't work this out!!

mom23

Hi
this is probably one of those questions that i should be able to work out myself!! but can't get my head round it!!
I am at the mo beginning to snowball my cc's the first one being B/card the min payment is 79.00 but to snowball correctly i need to throw 313.00 at it, which is fine i can do this!!
Since jan i have been saving in my online saver money from ebay (had a major clear out and still got loads to get rid off) and 2.00 coins etc, which is averaging out about 120.00 per month, i am saving this for days out in summer hols,birthdays and xmas etc (do not want to get in a mess especially at xmas and use cc!!)
Now my question is am i best to chuck this extra money at B/card and then when i need money for days out xmas etc just pay the min that paticular month?
Does this make sense!!!
Will i be better off or worse off ?
Thanks in advance

CLAPTON

there are two issues

purely financial - all things being equal reduce your debt with the maximum APR and assuming your saving arenot getting an interest rate greater than your debts then use the savings to pay the debts off.

but it also depend upon how disciplined you are. Obviously paying the max off the CC debt means that sometimes you have to actually increase debts...the danger being that you spend too much. So if you are confident that you can budget properly and will not be tempted to spend too much on the cards then pay the debts off with savings; if you find the discipline of budgeting easier by having a saving 'pot' then do that.