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I have $30,000 in credit card debt
Well, $35,000 to be exact, but I like to round down in these scenarios (just to make myself feel better, if we're being honest). The minimum payments are $346.
This is an accomplishment
Back on March 14th, 2019, my husband and I had $60,000 combined and we were paying a total of $1,792 in monthly minimum payments.
I've literally felt your pain "I want to pay off credit card debt!!"
Fast forward 1 year later and on March 24th, 2020, we had $21,900 in debt and were paying $219 in minimums.
Okay, I did sell a house that I flipped. At the end of the day, I had $25k from it.
Howeeeeeevvvver!
That doesn't at all cover all of the credit card debt, the hospital bills we incurred AND paid off!
I break down the costs a little deeper in my debt-destroying budget guide that you need because I said so.
$60k - $25k = $35k of debt.
So if we had a balance of $35k after selling the house, but our balances were at $22k, then we did a pretty good ass job of paying off $13k in a YEAR! (That doesn't include the medical debt that we paid off.) We're getting rid of credit card debt!
Oh COOL! I just now did the math on that and that's actually quite impressive.
Anyways, the other aspect of the accomplishment is that we didn't ADD more to it after 3 years! Well, I haven't touched a credit card in over 4 years, but who's counting.
I won't go into the obvious fact that we went from $22k of debt TO $35k of debt....
I was an all day, everyday, non-stop credit card user, always maxed out but still insisted on using them - that kind of credit card user.
From habitual credit card user
TO
not touching one in 4 years
AND paid off a LOT by
increasing credit score
, avoiding high-interest rates on credit cards
, and staying motivated by my BFF (budget for freedom).
Here's a link to get the 4-step debt-destroying budget guide I made for you.
These steps were the steps I took to stop using credit cards irresponsibly. Learn how to pay off debt like a PRO & save MONEY!