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Dont Save When You Are in Debt.
 Humans are funny creatures. We don't always do whats right for us - instead, we do what feels best, and try to blank out any reasons why it might not be the soundest thing to do. Possibly that's how come there are so many people who have both savings and debts.
Its a Matter of Psychology.
Yes, it makes you feel better to have savings. Saving feels like you're constructing a foundation for your future, while paying off what you owe feels like you're throwing your cash in to a hole. That money is for the kids education, or for doing up your place of residence, or whatever else - and it's in an savings account realising a useful rate of interest. What can be unreasonable about that? Lots, if you owe money.
Dont Be Fooled.
There are virtually no savings accounts that offer interest rates as high as the ones credit cards charge. Heres something to think about: if you have $10,000 in a bank account pulling in 5% a year and $5,000 on a credit card at an interest rate of 20% per year, how much money do you have? After just five years, the answer is effectively nothing - your owings would have grown to around $12,500, the same total that your savings are now worth.
You may not imagine it currently, but it actually is a good deal better to pay off your debts. If you utilized half your savings to pay off that debt, youd be in a much better position that it's really awesome. You avert five years of compound interest on the debt, but you still get to keep $5,000 in your bank account, earning interest - after five years, that's more or less $6,380.
If youd still rather keep your savings intact rather than using them to pay off your debts, ask yourself this simple question: is your pride worth $6,380 of your familys money?
Consider Your Financial Health.
When you have sufficient cash to pay off your debt, theres absolutely no reason to keep it. Debt is for people who don't have the money, and need to borrow it. Debt costs money, and savings make money - you need as much of your financial resources as possible to be savings, not debts. If your savings account and credit card are with the same savings bank, then youre in effect paying for the privilege of borrowing your own cash from them. Why on earth would you do that?
There are more benefit's to lowering your debt with your own savings. Youll be less distressed about your debts, and your credit statement will show that you were able to pay everything back - getting you a much better interest rate if you ever have to go into debt again.
I know it's never easy. You just need to bear in mind that any cash you've saved hasnt really been saved at all. Its money you should have been spending as an alternative to making purchases with a credit card. Yes, it feels much worse to spend money thinking that youre spending away your children's education - but always bear in mind that whenever you use a credit card to spend that same amount of money, youre spending away your future, plus interest. In any event, if you've got the debt, then that money has already been spent - stop denying it to yourself.
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