$3000 PayPal Credit 20% APR $2500 Visa 21% APR $1000 Wells Fargo 18% APR $1000 Chase Slate 0% APR ($30/month mandatory payment) $800 Amazon Card 20% APR
45k year salary. I was irresponsible and now I’m paying the piper.
Once I move out:
$650 rent $60 utilities $120 gas $400 food
I’ll add $200 more for miscellaneous. Total is $1430 a month in expenses.
At least I have no student loans.
In summary: $3000 a month post tax take home. $2000 a month to live. $8500 high interest credit card debt.
$300 a month minimum payments.
I’m probably being unreasonable and can cut somewhere I’m not thinking of.
Do I just pay the $300 minimum and throw the $700 extra a month at the highest interest debt until it’s gone? Surely there’s a smarter way to do it than that.
Is it possible to consolidate the debt? This is why we need financial education in high school.
Save me r/personalfinance
Submitted December 12, 2018 at 05:40AM by bulabulabambam https://ift.tt/2RVhfm2
