22M, new to Seattle area, no family or friends (long story, but, I moved here with my partner and he left me 2 weeks after we got here oops). Looking to get my debt under control and prepare for anything that may come up, but I cant even figure out where to start. I feel like i am barely staying afloat, and honestly most months I end up falling behind on one or two payments and have to pay that bill as soon as I get my paycheck, and i feel like i am stuck in that cycle and want to get out. I've tried apps like Mint but i still don't feel like they're helping me actually get any control. Any ideas or suggestions would be greatly appreciated.
Below is a list of total obligations including minimum payments, due dates, and interest rates/APR.
| Name | Interest Rate / APR | Total Balance | Minimum Payment | Due Date |
|---|---|---|---|---|
| Phone (Verizon) | - | - | $143.95 | 6th |
| Car Loan | 4.89% | $9,993.11 | $190.66 | 15th |
| Car Insurance | - | $176.00 | 29th | |
| Rent | - | - | $1,300 | 1st |
| Apple Music | - | - | $4.99 | 22nd |
| Hulu | - | - | $11.99 | 14th |
| Credit Card #1 | 24.24% APR | $1,004.95 | $30.00 | 27th |
| Personal Loan | 8.84% | $2,471.13 | $122.97 | 29th |
| Credit Card #2 | 17.5% APR | $2,544.29 | $75.00 | 25th |
| Credit Card #3 | 27.24% APR | $472.00 | $28.00 | 4th |
| PlayStation + | - | - | $9.99 | 5th |
| total: | - | $16,485.47 | $2,090.55 / month | - |
I plan on switching from Verizon to Mint mobile once I finish paying off my phone (roughly $900 left on phone balance) to cut down on monthly phone cost. Also planning on calling and speaking to my insurance agent to attempt to lower my monthly insurance policy cost. Currently, I am lucky enough (well, ya know "lucky enough") to work at McDonald's, so most of my meals come from work for free, even on my off days. Currently, rent is not something I can change even though it is well over 30% of my monthly income, it is my share of our mortgage.
Income is as follows:
| Work | ~$1,226 / paycheck | ~$2,452 / month |
|---|---|---|
| parents | - | ~300 / month |
I am attending interview in an attempt to move careers. Most promising interview was yesterday, and I was invited back for a second interview this coming Tuesday. If i got the job, it would be a raise from $18/hr to $20/hr. Still 40 hours a week, bi-monthly pay. I would most likely step down from my current position at McDonald's if i got this new job, and would pick up a couple shifts a week to supplement my income and make ends meet. Also currently pursuing an associates in business with a transfer pathway to a bachelors in accounting which i am lucky enough to have the total cost of tuition and supplies covered by McDonald's reimbursement program.
Would a personal loan be a valid option to consolidate my credit card debt and make one monthly payment instead of 3? Any other suggestions on how to get my debt under control and start to feel like im actually able to breathe?
Submitted October 05, 2019 at 08:06PM by E7793514 https://ift.tt/31OzX3r
