Novech
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- Got Cheered for Re: HELP! I'm struggling to keep up with my credit card payments. December 30, 2019 9:46 PM
- Got Cheered for Re: HELP! I'm struggling to keep up with my credit card payments. November 11, 2019 5:55 PM
- Got Cheered for Re: HELP! I'm struggling to keep up with my credit card payments. July 18, 2019 11:54 AM
- Got Cheered for Re: HELP! I'm struggling to keep up with my credit card payments. February 26, 2019 3:43 PM
- Got Cheered for Re: HELP! I'm struggling to keep up with my credit card payments. February 20, 2019 7:34 PM
- Got Cheered for Re: HELP! I'm struggling to keep up with my credit card payments. February 10, 2019 9:59 AM
- Got Cheered for Re: HELP! I'm struggling to keep up with my credit card payments. January 24, 2019 8:01 AM
- Got Cheered for Re: HELP! I'm struggling to keep up with my credit card payments. January 24, 2019 12:34 AM
- Posted Re: HELP! I'm struggling to keep up with my credit card payments on Debt management. December 29, 2018 7:28 AM
December 29, 2018
7:28 AM
8 Cheers
Hi, I’m 25yrs with no kids, 2 car payments (I live in New Jersey) and recently married. (Everyone situation is different). I started 2018 with a brand new job but 12k in credit card debt with high interest rates & 3k in medical and zero savings. I’m ending 2018 with 10k in liquid cash and 4K in 401k and 3k in individual investment account. Here’s how I did it. I downloaded mint in January and it showed me my spending pattern and my financial status. I created a budget and cut my spending by 50% I was spending way to much on food almost as much as my rent. So, I started cooking and food prep every week. I’m now sepending only $300+ per month on food. And I’m also a bodybuilder so no I don’t starve myself. My wife and I split the rent and I pay for everything else. One job wasn’t cutting it so I got a second job in April. The second job was purely used to pay Credit Card debt because the interest was killing me. I finished paying off all credit cards in July. Started saving in August. I started my 401k in June. And my individual investment account in August. For Christmas I set $150 per person for gifts that I’m sure I will buy something and a box of cards for everyone else that I will just give a card. Turned out I only spent &1800 for Christmas expenses vs 4K+ in previous years. And I sold items that I no longer need on eBay for extra income to pay for my Christmas expense. So basically.. I monitored my finances, built a decipline budget and stick to it, Find help where I could, took advantage of cash back from the credit cards, my credit score automatically went up in the whole process, work multiple jobs to increase income while decreasing expenditures, sell stuff I don’t need and built an investment portfolio. It was a hectic year now I comfortably work one Job and 2019 will be twice as better now I learnt how to manage my finances and credit. Stuff we never learn in school. Hope this helps.
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