4 ms·

i rang up about 5k in credit card debt. six months ago, i decided to put my nose to the grindstone and get it done. i paid my last $600 off this morning. i s

by thompo 16y ago

i rang up about 5k in credit card debt. six months ago, i decided to put my nose to the grindstone and get it done. i paid my last $600 off this morning. i stopped buying unnecessary shit, stopped eating out all the time, and most importantly, made payments -every- time i possibly could. if i opened my bank account online and had $400 left in checking, i'd put $250 into the card. if i had $200 left, i'd put $100. there are a whole boatload of $50 payments and many even smaller. just start paying and don't stop until it's gone. pay your bills, stay fed, and whenever you have money left over, move it to your credit card. try to make a small payment every couple days. just focus on that damn number and make it smaller every single opportunity you have until it reads "0". i also made enough during this period to pay for a trip to jamaica in cash. i only make $39,500 yearly so it's not like i'm hauling in bags of dough, but focusing on my credit card debt also had some interesting side effects - like learning money management and learning how to save WHILE paying down old debts. it got to the point that i found more joy in moving $50 to my credit card than going out and dropping $50 on drinks over the weekend. it's funny, but all that stuff that i just 'had' to buy before ...... it turns out i didn't. imagine that.

TheAmazingIdiot 16y ago
I'm sure you're up there with those who think that people who owe large sums of money should "just work harder" or "lay off alcohol and cigs". I had a medical injury that has royally screwed up my life. I also HAD insurance, but starbucks switched insurance and I was now in preexisting condition hell. I had no money for a lawsuit, so I'm now 12k in the hole, along with basic living expenses that I had to cover while not being able to work. Its upwards of 20k and I have no way to pay it off. So no. Quite many people in USA are just 1 accident away from ruin. I've seen it 3x before, and now with me. And there's not much at all that could be done.
- sixtofour 16y ago
  "Quite many people in USA are just 1 accident away from ruin." I am without health insurance, and I find that I am very careful moving about in the world, for exactly that reason. If I ever get in a major accident, I almost hope they can't revive me.
- thompo 16y ago
  'I'm sure you're up there with those who think that people who owe large sums of money should "just work harder" or "lay off alcohol and cigs".' You say I'm "up there" like I'm some sort of snooty asshole for working my face off for six months to pay off my debt. I have my vices (I love you, Mary Jane) and I still managed to afford them so make whatever assumptions you will about me, I just found it more gratifying to work on my debt rather than get canned every weekend (not at first, it took a few months to get to that point). I feel for you in regards to your injury, but 20k is pretty damn far from insurmountable debt. If anything it sounds like you've given up on yourself, and that sucks because I've been there and it's a tough spot to break out of. I worked my ass off for six months to pay off 5k - work your ass off for 24 months and you'll be well on your way to knocking down that 20k. Oh.... and just work harder.
  - lyms 16y ago
    Or just declare bankruptcy.
  - rick888 16y ago
    I was 25K in credit card debt when I got out of school. I moved back in with my parents and pretty much didn't do anything outside of working and sleeping for a year, and paid it off I am still debt free (this was 5 years ago). It takes self control and discipline, which most people don't have.
    - Cadsby 16y ago
      It's easy to be judgmental. What would you have done if you didn't have parents to mooch off of for a year? What if you had a family to support? It's easy to tell yourself you succeeded all due to "self control" and "discipline". But the truth is like many judgmental types, you had considerable practical/emotional support as well.
      - rick888 16y ago
        "It's easy to be judgmental. What would you have done if you didn't have parents to mooch off of for a year? What if you had a family to support?" The thing is, If I have a family, it means I'm already making enough to support them. This is the self-control and discipline I was talking about. Too many people decide to have kids and don't do anything to prepare (IE: save money, etc). If I didn't have family, I would still be fine. I would have gotten a cheap apartment and paid it off in two years. "But the truth is like many judgmental types, you had considerable practical/emotional support as well." Really? I didn't know "judgmental types" and "practical/emotional support" went hand-in-hand. This is why unsuccessful people stay unsuccessful. They pass good advice off as "judgmental".

by thompo 16y ago

TheAmazingIdiot 16y ago

I'm sure you're up there with those who think that people who owe large sums of money should "just work harder" or "lay off alcohol and cigs". I had a medical injury that has royally screwed up my life. I also HAD insurance, but starbucks switched insurance and I was now in preexisting condition hell. I had no money for a lawsuit, so I'm now 12k in the hole, along with basic living expenses that I had to cover while not being able to work. Its upwards of 20k and I have no way to pay it off. So no. Quite many people in USA are just 1 accident away from ruin. I've seen it 3x before, and now with me. And there's not much at all that could be done.

sixtofour 16y ago
"Quite many people in USA are just 1 accident away from ruin." I am without health insurance, and I find that I am very careful moving about in the world, for exactly that reason. If I ever get in a major accident, I almost hope they can't revive me.
thompo 16y ago
'I'm sure you're up there with those who think that people who owe large sums of money should "just work harder" or "lay off alcohol and cigs".' You say I'm "up there" like I'm some sort of snooty asshole for working my face off for six months to pay off my debt. I have my vices (I love you, Mary Jane) and I still managed to afford them so make whatever assumptions you will about me, I just found it more gratifying to work on my debt rather than get canned every weekend (not at first, it took a few months to get to that point). I feel for you in regards to your injury, but 20k is pretty damn far from insurmountable debt. If anything it sounds like you've given up on yourself, and that sucks because I've been there and it's a tough spot to break out of. I worked my ass off for six months to pay off 5k - work your ass off for 24 months and you'll be well on your way to knocking down that 20k. Oh.... and just work harder.
- lyms 16y ago
  Or just declare bankruptcy.
- rick888 16y ago
  I was 25K in credit card debt when I got out of school. I moved back in with my parents and pretty much didn't do anything outside of working and sleeping for a year, and paid it off I am still debt free (this was 5 years ago). It takes self control and discipline, which most people don't have.
  - Cadsby 16y ago
    It's easy to be judgmental. What would you have done if you didn't have parents to mooch off of for a year? What if you had a family to support? It's easy to tell yourself you succeeded all due to "self control" and "discipline". But the truth is like many judgmental types, you had considerable practical/emotional support as well.
    - rick888 16y ago
      "It's easy to be judgmental. What would you have done if you didn't have parents to mooch off of for a year? What if you had a family to support?" The thing is, If I have a family, it means I'm already making enough to support them. This is the self-control and discipline I was talking about. Too many people decide to have kids and don't do anything to prepare (IE: save money, etc). If I didn't have family, I would still be fine. I would have gotten a cheap apartment and paid it off in two years. "But the truth is like many judgmental types, you had considerable practical/emotional support as well." Really? I didn't know "judgmental types" and "practical/emotional support" went hand-in-hand. This is why unsuccessful people stay unsuccessful. They pass good advice off as "judgmental".