How Do I Start Paying Off Debt?

How Do I Start Paying Off Debt?

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[covercalls]

Having a CC is not a problem, it's how you use it. As I travel a bit I need it to make hotel and auto reservations. When my CC bill comes in it's paid in full.

[SEANPOL]

A back up plan would be having an emergency fund, where you become the Bank. It took me 20 years to realise that this is the right way to do it. Credit cards are parasites

[jeanniesabol]

Live below your means. Recognize needs vs wants. Dial way down on lifestyle. Credit card interest will make you POOR. Save and invest. Peaceful and calm life.

[rickybobby]

Its funny people blame credit cards like thats the problem when in reality some people simply don't have self control 😂

[jacobsartin]

Credit cards are free credit score and cash back, just pretend it’s a debit card. If you don’t spend what you don’t have, a credit card is just extra money.

[arfriedman]

If you use the credit card make sure you have the money to pay back immediately.

There's nothing wrong with having 1 or 2 credit cards if you're responsible and don't spend money you don't have. And don't buy stuff you don't need.

[TheEGA]

Back up plan 😬! I had two cc when I bought my home. Six months later I closed those two cc. I use debit card/cash! Will never use a cc again no matter how many cc applications are sent to me. Somebody did not tell him the truth. Also I am paying extra principal every month!!!

[mariodelauro]

only borrow what you have no choice, like a mortgage, maybe a car, personally I buy a year old car to save thousands, then get a check card, the money comes out of your checking, if there’s no money in there, you can’t buy it, we’ve never had credit card debt

[patti]

How can folks with 100k in income afford a $290k mortgage and have car debt? I couldn’t sleep at night with all that debt

[sherryheuel]

Those pesky credit cards, almost done, paying off and ripping up all of them, and keeping one with a low percentage rate for emergency

[robm]

I have $700k in debt in 2 houses and I’m not worried at all. One rents and the other is my home. Between the 2 I have 500k in equity. I could walk away tomorrow and be 500k richer. I’m worth 2.2 million not counting the houses. Without debt I would not have 500k in equity I will cash out in a few years. By that time it will probably be 750k. I would love to find another house and even increase my debt to 1 mil.

[madmatt]

How in the world did he get one card with that high a limit? I have two cards and an 800 score but the limits on both are under $10K

[billm.]

He didn’t even mention a reserve fund. He probably doesn’t have one. That was his first mistake. He should be able to pay off the card in about 18 a 24 mths IF he buckles down & stops the frivolous spending. Concentrate on paying off the card first, then tackle the car.

[ChrsGotFourEyes]

I got 16k more and im DONE. Shoulda never bought my pos car and copped an electric bike instead. Woulda lasted longer and fraction of the price

[randomcitizen]

Bruh... I have no credit.... and no debt. How do I build up my credit without getting in a hole?

[madiz]

Just buy Bitcoin. Look at the chart, it goes up over time since inception.

[jimmymcgill]

60k is not that bad, with 100k income. I would not sell the car.

[huntingdemons]

You guys never help, the only response ever is get out of debt and work more

[freemarketspeople]

It’s not my fault. The credit card came with the house. C’mon, man take some responsibility.

[kimberlyshanks]

100, 000 is not even enough to live on anymore