I work forty-eight hours a week as a 19-year-old, and I make $22 an hour. How should I pay off this debt? Regards!
Next pay cheque, fully settle it.
You make good money, therefore your $600 in debt is like a drop of water in a pool compared to these other people. You’re at a favourable place.
Pay it off and stay away from credit cards forever they are just bad.
If I could go back in time to 19
When used properly, credit cards are actually very great tools. I like using my credit card since it offers consumer protection and airline miles. Every month, I also make it a point to pay down my balance. My budget was created using my credit card. I am aware of my monthly allotment and never exceed it.
Though I am aware that not everyone finds success with this.
At 19, this is a fantastic amount of money. Nevertheless, debt issues usually begin where you are and only become worse over time, much like addiction.
I would take a close look at a few things: what led you into this situation, and do you know exactly where your money is going? I don’t agree with Dave Ramsey all the time, but one of his most important insights is that debt is a symptom, not a cause. Without a doubt, I would give the issue much more attention.
I don’t think you need a plan to deal with it; if you do, have dinner at home for a week and use your next two pay cheques to pay it off.
Pay it off fast in sizable installments. Avoid making minimum payments.
At your age, I made the same error of accruing $250 in credit card debt and merely paying the minimal payments. I had to consolidate when I purchased a new automobile, and it took me over ten years to pay it off.