First thing: cut non-necessities for at least 6 months. Movies, new clothes, going out to dinner or eating fast food, COFFEE from coffee shops - all of it. No fun times until you’re out from under the weight.
Second thing: determine your discretionary funds - everything you have left after paying necessities like rent, insurance, utilities, groceries(that’s groceries, not “food” since food is a broad and expensive category) . Give yourself an emergency buffer, something that can help cover emergency repair costs or transportation to work. $250 - $500 would be my bet. The rest goes directly to your credit debt.
Second thing, the first: of you have multiple credit lines, inquire with your bank about a consolidation credit line, to take what could be multiple interest rates and “consolidate” them into one. As long as the consolidation line of credit’s interest rate is t higher than your highest credit line, it’s a good deal.
Third thing: your support network. You have coworkers, supervisors, friends and family who want you to do well, for many reasons. Communicating honestly with your employer about these things could open resources to you like credit counseling to lower your rates, or coordinating a carpool to reduce your transportation costs. Friends and family could help fill the entertainment gap with less expensive alternatives. This is going to help take the social pressure off; plus, if they know you’re actively pulling yourself out of debt, they’ll want to help!
