1) Don’t spend anymore on any card.
2) Consolidate all your debt with your bank (watch for interest rates spike)
3) If you will need a card to survive, and have no savings or anything, which I assume you don’t based on the fact you’re in this situation, transfer your balance into a card with O% transfer.
4) All extra money, tips, a dollar, or $1M or what have you, pay down your bad debt (credit card).
5) live below your means. 99.9% of people are doing what you’re doing and it will catch up to them. Live well below your means and make the sacrifices now to repair your credit, minimize your debts and only spend what you can afford. Do some self searching. Mind you, what you can afford does not equate to how much you make or have saved, what you can afford is after bills, after savings deposits, after debt repayment.
6) Never buy a new car unless it is to built credit for a larger investment purchase such as a house or commercial property, even then I would caution against it.
7) Research how to build a passive income and stop working for earned income (indentured servitude and enslavement). The future is yours. Don’t be discouraged, you can make it happen.
😎 If you apply for a card in the future, make sure the interest rate is $0%. If it is not, make sure that you don’t use your credit card. Instead, use your debit card. Credit Card limit is not your money and this should not be spent like it is yours. If you can’t pay it with your money you can’t afford it on a credit card. Stop trying to be someone you are not. That is unsustainable and you will become wealthier with a mindset that does not promote senseless spending. Frugality is key. Do your research, pay the debt, learn to use debt to your advantage and prosper. Everything will be okay.
