So. I have $17,000 in credit card debt. Just one card. Over 8 years of pretty regular expenses. Food, gas, college tuition/books, utilities. The thing allowed me to have "means" to live within when I was a waitress making $10k/year during college. It was certainly a tradeoff, one kind of debt for another, but it also allowed me to supplement my Pell Grants so I didn't have to take student loans for undergrad.
Anywho... since graduation I've struggled to pay it down. I'm employed full time at $29k at a nonprofit, and starting grad school in August. My salary is pretty average for a < 3 years' experience Bachelor's graduate in Phoenix. Most of my college-educated friends are working in call centers or are Uber drivers. So.
I have about $8,000 in savings. It's my inheritance from my Dad when he passed 8 years ago. I've managed to hold on to it and going through life knowing it's there if everything falls apart is nice.
But, is this stupid? Shouldn't I just throw this money at the card and almost halve my balance?
Trouble is, I don't see how I will realistically be able to save back another $8,000 to replace it until I get a much, much higher paying job, possibly after the Master's Degree.
But, the $450 minimum payment is killing me!
So.... to blow the savings or to not blow the savings? Blow part of it maybe?
Submitted May 27, 2017 at 12:50AM by W1nd0wPane http://ift.tt/2s0jeJ9
