Should I use my savings to pay off my high interest rate credit cards? If I pay them off I would be left with half of my savings.
Generally speaking, it is not advisable to keep a revolving balance on high interest rate credit cards. One way to look at this is by seeing how much interest you pay on your credit cards and comparing that to how much interest you earn in your savings account. Interest rates for savings accounts at this point in time are much lower than what credit card interest rates are, unless you have a really low interest rate on a credit card.
You would probably save yourself more money by paying off the credit cards than to keep making payments for an indefinite period of time. As a rule of thumb it is typically advisable to have six months of your living expenses saved. Ideally, you would want to have the credit cards paid off, and have six months worth of living expenses saved in case of an emergency.
I hope this information helps you Find, Save, and Learn.