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Dont Save When You Owe Money.
 Human beings are peculiar creatures. We don't always do whats right for us - rather, we do what feels best, and try to wipe out any reasons why it might not be the most effective thing to do. Possibly that's the reason there are so many people who have both savings and debts.
Its a Matter of Psychology.
Yes, it makes you feel better to save. Saving makes you feel like you're constructing a cornerstone for your future, whilst paying off debt makes you feel like you're throwing your cash down 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 bank account bringing in a good rate of interest. What can be unreasonable about that? Lots, if you have debts.
Dont Be Fooled.
There are virtually no savings accounts that offer interest rates anywhere near as high as the ones credit cards wrest from you. Heres food for thought: if you have $10,000 in a savings account making 5% per year and $5,000 on a credit card at an interest rate of 20% per year, how much cash do you have? After only five years, the answer is effectively zero - your debt would have grown to in the area of $12,500, the equivalent amount of money that your savings are currently worth.
You might not believe it at present, but it actually is a lot better to pay off your owings. If you utilized one half of your savings to pay off that debt, youd be in such a better spot that it's truly awesome. You avert five years of compound interest on the debt, but you still get to keep $5,000 in your savings 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 elementary question: is your pride worth $6,380 of your familys money?
Consider Your Financial Well-being.
Once you get enough cash to pay off your debt, theres absolutely no logical reason to keep it. Debt is for people who don't have the money, and have 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 banking company, then youre effectively paying for the privilege of borrowing your own cash from them. Why would you do that?
There are other advantages to getting rid your debt with 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 hard. You just have to bear in mind that any money you've saved hasnt really been saved at all. Its money you ought to have been spending as an alternative to buying things with a credit card. Yes, it feels much worse to spend money thinking that youre spending away your nest egg - but always bear in mind that when you use a credit card to spend that same money, youre spending away your future, plus interest. Anyway, if you've got the debt, then that cash in the bank has already been spent - stop denying it to yourself.
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