Hey Im new to Reddit and especially new to financial planning but i need to start somewhere.
I was young and got a $3k limit credit card and blew it all on god knows what. Then got another $3k limit credit card a few years prior to try and fix things. I also have a $500 limit credit card through my bank. I moved out only to move back in again because of bills stacking up. Im making payments on my cards but just need to know if i can do so more efficiently. I maxed out both $3k cards and have some money on the $500 now. Card 1: Discover, dropped amount to $2919 owed Card 2: Capitol one venture, closed with balance of like $3.5k owed Card 3: Bank Credit, cut it down to $317 owed
Not sure of the APR/ interest on the cards at this time. I think the discover is at maybe 4%. I make an average of about $16-1800/mo and have to allot close to $200/mo for gas, $270-300 food, $80 car insurance, $120 phone, $36 gym (major priority), $100 agreement with parents, $75 minimum on discover, $25 minimum on bank credit card, and nothing on the capitol one since it closed. I have been double paying on both my bank credit and my discover since moving back in with parents. I smoke about a pack every two days and an 1/8th every two weeks, netflix, and i have an xbox monthly subscription i havent used in a few months. I have two older vehicles, one i drive for work, the other is a sports car I want to hold on to.
In short i just want to monetize expenses with my priorities in mind and get rid of my credit debt first. I dont want to put all my extra income in to credit cards solely. I would like to save a couple thousand for a cushion for when i move back out and SOME spending money. Any help is greatly appreciated.
Submitted August 16, 2017 at 08:55PM by s13bro http://ift.tt/2uRpdkx
