My current credit card debt is $4,400. I am 19 years old, make about $900 every two weeks, and give $500 to my parents for rent. I keep trying to cut back on my spending and not use my credit card, but I find it difficult to spend more than I have on groceries and other necessities. I want to buy a new car because my current one is about to break down, but I’m not sure what to do other than maybe finding a job. Walmart pays for my online classes, so feel free to ask any questions you may have.
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I would talk to your parents about your circumstances whether it is possible to make the request to “give 500 to your parents for rent” optional, adjustable, or postponable. Every month, I would apply for the cut-up credit card using that $500. I would secure a higher-paying position. If you don’t get a new job, it could take nine months to pay off your credit card in full. However, if you do, it might take significantly less time.
Dragon is accurate. Right now, you can’t afford a car or a girlfriend. Completing education will allow you to advance in the firm. I am aware of multiple individuals that are really successful at Walmart. There’s a chance there. Best of luck
It sounds like your situation requires you to keep pushing forward. It could be helpful to think about where you want to be in 4 years, and more importantly, where you don’t want to be. The problem is, debt can snowball quickly, and in 4 years, your credit card debt could easily reach $10k–$20k.
Another thing to consider is that if you’re feeling stressed, you might be tempted to get a car loan to fix your vehicle situation, but that could worsen your overall financial picture.
The simplest approach is to increase your income. Even with basic skills, earning $20/hour should be achievable, which will help stop you from falling deeper into debt. Once you’re no longer digging, turning things around becomes manageable. Work a little extra, save $1,000 as an emergency fund, get on a budget, and start paying off your credit card. You could eliminate this debt in 10-20 weeks. Also, cut up your credit cards (and cancel them if there’s no interest penalty).
His disposable income is substantial. I’m fairly certain that he orders food from Uber when he says he has to feed his girlfriend. Is she capable of making economical meals?
500 for rent, 500 (I guess) for credit card payments each month, and you’re left with roughly 800 left over. You will need to make a sacrifice. Debt of $4,400 isn’t bad at all, and if you could make some sacrifices, you could probably pay it off in approximately four months.
Are you in excellent credit standing? Get a credit card that offers a balance transfer at 0% APR. In this manner, you can pay off your debt and avoid having to pay interest for a year or more.
Eat with your parents, please?
Since I spend most of my time at my girlfriend’s house, her parents don’t exactly do a great job of feeding her, so I have to go get groceries to make dinner.
Due to her severe leg injuries, she has substantial medical and educational expenses and is unable to make ends meet.
You can still have your girlfriend, but she needs to take care of herself and find employment. It’s okay, don’t listen to the folks on this site. You should cook at home instead of squandering money on eating out because you are 19 years old. You should also stop buying video games, pointless clothing, and booze.