I’ve got $20k in credit card debt and make just under $50k a year. I get paid weekly, so I’ve got a steady income. My car loan is $405 due on the first of each month. I’m thinking of trying the snowball method to handle this, but I’m open to advice. What’s worked for you?
Start by listing your expenses. Check your bank and credit card statements to see where your money is going. Cut back on anything unnecessary—like switching to a cheaper phone plan or reducing your insurance costs. Every extra dollar can go toward your debt. Also, try calling your credit card companies to ask for a lower APR or to work out a payment plan. It doesn’t hurt to ask. Good luck!
@Avery
It might be worth mentioning that calling creditors can really help. Even if they don’t lower the APR, they may offer other options.
Make the minimum car payment of $405 and focus on your credit cards. Start with the lowest balance, pay as much as you can, and move on to the next one. Cancel each card after paying it off if you feel you might use it again. Credit cards can be helpful, but they seem to be causing issues here. Take it as a learning experience and stick to cash for now.
@Paxton
Thanks, I’ll give that a shot. Appreciate the advice.
Lin said:
@Paxton
Thanks, I’ll give that a shot. Appreciate the advice.
No problem. Stay consistent, and you’ll see progress. Look into 0% APR balance transfer cards if you qualify—it could give you some breathing room. Good luck!
You’ve got a lot of work ahead, but it’s doable! 
Val said:
You’ve got a lot of work ahead, but it’s doable!
This had me laughing so hard. 
These Apple cards are everywhere on this forum. Seems like everyone’s iPhones and Macs are messing with their credit.
Try transferring your balance to a card with 0% APR for 12-24 months. Even if there’s a 3% transfer fee, it’s worth it to stop interest from piling up. Make steady payments during the promo period. I’ve done this before, and it’s a lifesaver. You can also put extra money in a savings account to earn interest while paying the minimum, then pay it off in one go before the promo ends.
While you’re working on paying off your debt, avoid adding more to it.
I paid off $50k in 2.5 years by sticking to a budget and using the snowball method. It wasn’t easy, but it worked. Write down everything you spend for a few months, categorize it, and see where you can cut back. Even small changes add up over time. Stay disciplined, and don’t give up. You can do this.
@Greer
Agree 100%. Tracking your expenses and creating a plan is key. It’s hard, but it works.
Pay off your cards in order of their balances, starting with the smallest. Once they’re clear, live below your means. No more luxury items unless you’ve saved for them first.
Tali said:
Pay off your cards in order of their balances, starting with the smallest. Once they’re clear, live below your means. No more luxury items unless you’ve saved for them first.
Step one: cut up the credit cards.
Start with the card that has the highest APR. That’s the one costing you the most.
I stick to the snowball method because seeing progress keeps me motivated. If it works for you, go for it.
Make minimum payments on everything to avoid late fees. Then, put all extra money toward the card with the highest interest rate. Call your card companies and ask if they’ll lower your rates—it’s worth a shot.
What are y’all buying with these cards?
Isle said:
What are y’all buying with these cards?
Probably just trying to stay afloat.