I’m currently in the least amount of debt I’ve ever had—just over $2,100. I work full-time and earn about $1,100 every two weeks. I could technically pay it off in two paychecks, but each time I get paid, I end up broke because I’m putting everything I can toward this debt. It’s draining all my money.
My birthday is coming up in November, and I’d like to have some cash to enjoy it, but being debt-free is more important to me. I really regret getting credit cards; they were one of the worst decisions I made because I let my spending get out of control. I constantly think about how I could’ve managed my finances better. I wish I earned more so I wouldn’t have to sacrifice such a big part of my paycheck just to pay down debt.
I want to move out and get a car, but this small debt is always on my mind. My impatience is getting the best of me—it feels like it’s taking forever to pay off. I’ve made it seem like I’m not in any debt to others, but I’ve been dealing with this credit card balance for almost a year. It used to be much higher, but I’ve managed to bring it down to $2,100.
Typically, credit card debt carries extremely high interest rates. Just consider how much money you’ll have as “bonus” once you’re done paying interest.
Maintaining discipline now will increase your money later on. Hold on tight!
Furthermore, I would investigate side gigs to supplement your income (e.g., research surveys, plasma donation, selling some stuff you no longer need, etc.). Even though it’s not much, every little bit helps.
It appears that you are fortunate to be a housewife with no debt. Why are you finding this stressful? Are you finding it difficult to stop wasting money on unnecessary purchases? Forget your freaking birthday and forget about wasting money to squander it. If your debt is causing you a great deal of anxiety, act like an adult and pay it off. It’s a free ride for you.
Simply set a goal to pay it off by the first of the year; it won’t be difficult to do. This is still not anything you should be worrying about. There are folks out there in much worse circumstances than you who are clueless about what to do with all of their debt and expenses.
Given the short training programs, you could obtain a CDL and drive a truck for Walmart for $70,000 a year, beginning in less than a month. However, you won’t.
Imagine that you will continue to live penniless and spend all of your additional money on debt. After everything is paid off, you essentially become wealthy (because you will have a lot more extra money).
Remain disciplined and postpone your desired purchases until you have settled this debt, which is most likely high-interest. It’s fantastic if you can finish within the following two to three paychecks, as it will allow you to move on with your life debt-free!
After that is finished, SAVE MORE SAVE MORE SAVE to pay for the items you desire.
Read Seneca and Marcus Aurelius to cultivate stoicism in your life. Find something to develop, and keep your aims in mind. self-control.