So over the last couple of years I have racked up a credit card debt of over $7,000 over seven or eight different accounts. Some of the interest rates are embarrassingly high but I was stupid and did not understand them when I signed up for them and consequently I have been drowning financially under the weight of all of the interest. It seemed like all of the payments I could make were instantly negated by interest.
I have been given the gift this Christmas of a $7,000 loan from a family member with 0 interest that I will be paying off over the next 3 years. My question is what do I do now with the bit of residual money that I have? My payment to this family member ($200 a month) will be cheaper than my payments on all of these accounts ($315ish) and I'm wondering if I should just lump in that extra money to pay off the debt quicker or take advantage of the extra money and start saving it somehow.
I am an absolute idiot when it comes to money, I have always bought what I wanted when I wanted it and have never been able to save up any sort of money over $200, and even that didn't last long. I am now 31 years old and trying to get my shit together, before things get even worse than they have. Please help me.
Submitted December 20, 2017 at 07:55PM by stoopidmonstr http://ift.tt/2p55srp
