Basically, I made some really bad decisions when I was in college, and accrued a fair amount of CC debt. And I wasn’t able to even make the minimum payments for a while, and they went delinquent. I have anxiety, and I couldn’t even think about it for a while.
I graduated May 2017 and started working full time a few months later. At that time I turned over payments to a debt management company (specifically Money Management International). They charge me $28.24/mo to make all the payments for me. That got the creditors off my back and seriously reduced my anxiety. I want to make payments on top of the MMI payments.
Since then I’ve managed to fully pay off two cards, for a combined total of over $1000! Unfortunately, that’s just the tip of the iceberg. My credit’s in the toilet, obviously.
Please look at my budget help me pay this shit back ASAP!
I have two jobs. My main job is a government (county level) job. So I get health insurance, my CalPERS pension, etc. I have some ability to work overtime, but it is limited. My secondary job is as a caretaker for my roommate, hours are set. I expect my net from both jobs to increase slightly come January/February.
Net income:
Job 1: $900 biweekly
Job 2: $400 2x/mo
Fixed, mandatory expenses:
Rent: $500
Phone: $55
Auto/Renter’s Insurance: $110 (bundled, newish driver rates)
Pet insurance: $92
MMI payment: $381.24
Student loans: $51
Budget for other expenses:
Netflix, Hulu, Etc: $26
Transportation: $90
Medical (copays, etc): $80
These expenses I’m not so sure about:
Pet supplies: $100 (??)
Groceries: $300 (??)
Personal needs: $200 (??)
My biggest money pits are dining out and video games (I’m looking at you, Steam Winter Sale). I also had an $800+ vet bill for my dog, where the pet insurance really came in handy. My out of pocket was about $300.
So, on to the credit cards…
Capital One: $950 14.90%
Capital One: $4400 14.90%
Synchrony: $1900 26.99%
Citi: $1400 9.9%
Citi: $1350 9.9%
I have about $18k in student loans, 4.16% interest. I’m not as worried about these, I’m currently in PSLF. I will tackle those once the credit cards are paid off.
My plan is to put as much as I can into the Synchrony card, on top of the monthly MMI payments. Once that is paid off, I’d like to pad my (very sad) emergency fund, and then work on the capital one cards, and finally the citi cards.
I really need help with figuring out how much I should be spending on the ?? categories, and how I can make my money go further.
Is it reasonable to think I can pay off the Synchrony card in 3 months?
I use YNAB, and it has helped me understanding where all my money is going. Any tips, etc. would be helpful.
Submitted December 29, 2018 at 01:24AM by littledorysunshine http://bit.ly/2SrNSI0
