I'm ashamed to say that I fell into the credit card trap and am buried in a little bit of debt. I'm using my alt account because I don't want anyone I know knowing how bad I messed up. For reference, I'm 19, have about $450 in my checking account, and make about $1,200 a month give or take a couple hundred dollars depending on the month. I also currently have about $300 in stocks through Fidelity.
I have 3 credit cards. Card #1 is 21.99% APR and has about $800 of debt on it. Card #2 is 0% APR until December with about $900 of debt on it. Card #3 is 22.24% APR with about $200 of debt on it. I stupidly used these cards while traveling before COVID and then to get things to work comfortably from home during COVID.
My current plan is to pay off card #3 and put $400 each to card#1 and #2 after my next paycheck in mid-September (including money from checking account). With my budget, I would have about $300 to make it to my next paycheck which is totally doable since I haven't left the house in months and only have to pay for monthly subscriptions and my phone bill.
Sorry for the wall of text. I just need some help. Should I put more money into paying off the cards? Should I take more of a hit on interest while saving money to open a Roth IRA in the future? I'll take any advice.
Submitted August 29, 2020 at 08:05PM by AnonIsGettingBetter https://ift.tt/32FENBE
