Like the title says, I'm freaking out. I have $29,000 in credit card debt. I hate myself even more than you do right now, trust me. Here's a breakdown of that debt
CC1-$9,535.28/23.99% interest/minimum $215 CC2-$3,342.79/18.99% interest/minimum $87 CC3-$2769.97/29.24% interest/minimum $83 CC4-$3190.99/26.99% interest/minimum $91 CC5-$4015.88/couldn't find the APR/minimum $164 CC6-$4252.94/0APR until 11/18. Minimum $144 CC7-$1345/0APR until 11/18 minimum of $41
That's $825 a month in minimum payments alone.
I have already cut all the cards in half. I have trouble sleeping at night because of this. I am fully aware of how out of control this got. Next will be a breakdown of income and other expenses.
Income: $1,614.37 Bi-weekly or $3,229.34 monthly times twelve =$38,752.08 take home yearly. On paper I make $66,500 a year. The good news is come March I will make $79,500 on paper!
Rent-$675 Car-$430(just put a bullet in my head please.) owe roughly $13K Insurance-$133 Phone-$140 Internet-$70 Life insurance-$40 Maid-$60
I am 24 years old and getting married next year. Nothing has made me grow up faster than putting a ring on someone's finger. I want to be able to provide the best life possible for her. I have $19K in an old 401K from my previous employer. I am now vested in railroad retirement and therefore don't contribute to it any longer.
The first step in solving any problem is admitting that there is one. So here I am. I have been using YNAB for a month now. I haven't used the cards obviously since. I no longer eat out during the week. I have started looking for anything of value to sell.
I am terrible with math. So I have two questions,
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If someone could provide me with a run guide on how I should do this, or if they could share any advice or words of encouragement I would be forever grateful. I make all of my payments every month, but I feel like I'm going nowhere with it. I haven't seen any progress. Some cards the interest charged ends up being more than my payment.
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Would it be a better idea to take out a personal loan to pay off all the debt and therefore have a fixed APR/payment with a endgoal insight? I know that I could swing $700 for 60 months.
I'm tired of tossing and turning at night. I have a great job with great pay and have nothing to show for it. I'm tired of living like this. I'm ashamed of who I am. My dad used to tell me that it's called the American dream because it never becomes a reality. This is my American nightmare.
Submitted November 25, 2017 at 03:43AM by DasBeatles http://ift.tt/2A5OCwz
