Getting Back to Business…

I just got back from Mexico on Thursday and now I am back to work after a month off. The bar exam is finally over and my sister also had a beautiful wedding in Cancun.

Not so good news for my finances…

I am getting hit with $600 in residual medical bills from a surgery I had 2 years ago, my car needed repairs on Friday to the tune of $750 and my hotel roommate for the bar exam decided not to stay with me and I got stuck with the entire $400 hotel bill.

Needless to say, I have a credit card bill hovering around $3,000 which includes my car repairs, hotel stay/parking expenses for the bar exam, and other travel expenses. But, it does not include the $600 in medical bills which I still need to pay. So, the figure is more like $4,000.

I have to decide whether to take the money out of my current savings balance of $15,000 thereby reducing it to $11,000 or to transfer the balance to a 0% credit card and try to pay it off over the next 5 months before my student loans kick in. I don’t really want to take on any more credit card debt but at the same time, the $15,000 that I have in savings is my emergency fund and 3 months of living expenses (including $1,500/month student loan payments).

I am leaning towards a cash only system and a balance transfer. There are no more major expenses on the horizon for me and with passing the bar exam, I should be able to land a better paying position very soon. I better pass that darn test or I am in trouble. =)