Hi there. I’m currently 22 and I have already accumulated up to $5000 in credit card debt. Reason for this? Well I was dumb and thought that I would be able to pay off whatever I spend but slowly it got out of hand and now it’s gotten to the point where I am maxed out on my two credit cards. I am still a college student and I have a part time job at Amazon that pays about $15/hr. My hours fluctuate depending on the needs, so anywhere between 3-5 hours a day, 4 days a week.
I also had some savings previously in my PayPal account with about $1200 for emergencies but of course I went and spent that just last year. Besides paying my debt off, I want to also put the money I spent back into my PayPal account.
I make about $200 a week, so in a month is $800. My monthly internet bill is $103, minimum credit card amount due per month is $80 and $40 for both. Electricity comes to an estimate around $100 to be fair. I would also like to start saving up money for a plane ticket to go see my significant and the ideal amount I would like to achieve is $1000 by the beginning of March 2022. Food expense would come anywhere between $100-200 depending on how often I eat out with friends. Gas per month is about $200. Almost forgot about my gym membership which is $30 per month. I guess in total, I would need to come up with about $8000 in order to achieve what I want as of now.
I have not even thought about savings for my retirement because I never set aside money for it. I have been trying to figure out what is the best way to achieve my goal and cut down my bad spending habits. I know this a lot but I’m really stuck and in need of some advice on what steps I should take to get where I want to be.
Appreciate all the feedback I can get.
Submitted September 18, 2021 at 11:17PM by DivineAngel- https://ift.tt/39jerJO
