22 yo here who has accumulated about ~$4,500 of credit card debt.
I recently graduated from nursing school and currently make $26/hr but will make $40/48 per hour (day/night differential- I rotate every month) once I'm off orientation in February.
I had 4 credit cards but have successfully paid off 2 so far. Other bills include my rent which is $2,000/mo (I know) and electricity (~$100/mo). No student loans. With my rent being so expensive and my pay being docked while on orientation- I only have $500 left over each month for credit card payments, groceries, etc.
Not going to lie- I'm an idiot when it comes to personal finance. I wish I had taken a class in college. Anyways- if anyone has any book/video recommendations I'd happily welcome that. I wrote out a plan today for paying off my CCs. I'll post it below. I'd appreciate any critiques or advice.
Plan is to pay off CC #2 first d/t the lower balance. Is that the best thing to do? Interest rates for each are almost identical.
Credit Card #1 = $3,327.04 (min. payment $110)
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December (-110, min. payment only) = $3,217
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January (-110, min. payment only) = $3,107
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February (-110, min. payment only) = $2,997
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March (-110, min. payment only) = $2, 887
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April (-400, payment increase) = $2,487
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May (-400) = $2,087
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June (-400) = $1,687
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July (-563, payment increase) = $1,124
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August (-562) = $562
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September (-562) = $0 paid off
Credit Card #2 = $1,169.64 (min. payment $25)
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December (-200) = $969
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January (-200) = $769
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February (-200) = $569
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March (-569, increased payment) = $0 paid off
Submitted November 11, 2017 at 03:14PM by throwaway7025s http://ift.tt/2zAq9yT
