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I had like $13k and I recently brought it to $0 by making some lifestyle changes for a few months.
1) Stop eating out. If you're local, learn how to cook. I used Amazon fresh and a crock pot and brought my food expenses down substantially.
2) Only use cash at bars. Once you're drunk you have no clue what's going on with your tab. Every weekend night I'd easily ring up $100-$125, now I only use cash and can get away with about half that. I also started drinking more beer in bars instead of mixed drinks.
3) Change your standard of living if you can. Roommates if it makes sense, sell your car and buy a beater. If you're only using your car a few days a week do you really need that 3 series?
Hope this helps!
Just start drinking straight alcohol, it's the cheapest and it's pretty easy to develop a taste for it if you start to really get to know one liquor type. I'm a bourbon drinker, some people like white rum, etc
*poor
SF
What are the key monthly expenses that force you rack up debt that others don't have to account for?
Your mother racks up a healthy bill. She's hungry
OP how old are you
Apologies for sounding like a total dick.
Completely understand that people have different backgrounds and are in different parts of life. I know I don't know all the various stories of people who go into debt.
However, I do know some extremely materialistic folks who completely live outside their means i.e. buy unnecessaily expensive cars, clothes & jewelry they don't have any business owning, or living super expensive places in SF that cost most of their paychecks. For those folks, it's really easy for me to see why they are in debt - they are following America's consumerism, living outside their means, and not saving.
$400 on my side. Will have it paid off this month. 15k is approx $300 a month in interest. To me, throwing away any money each month is outrageous, if it can be controlled. Anyhow, check out this cc - 0% apr for 21 months. Could save you some money - https://www.valuepenguin.com/citi-diamond-preferred-credit-card
Hmm so if you're thinking about credit score, it does matter. The lower the % of your line you spend, the better. Going over ~30% can lower your score. Really, though, you ideally want to stay around 10% and/or spread out among cards.
I don't think it's terrible. Just make sure you're not paying interest on it, use balance transfer (chase slate is good for that). Make a commitment to pay it off asap, using your extra funds like bonuses, tax returns, etc. and I think you'll be just fine.
You should owe Zero. Why spend more than what you make/have/save????
And if the city that you live in is too expensive then move. Again, besides emergencies and extreme circumstances, credit card debts are due to poor financial decisions (i.e. Living in an expensive city, buying expensive cars, stuffs, etc.) But then again, as a point collector I do have to say thank you to all the people who pay these credit card companies to have all the promotion and bonuses for me :) <= see, if you dont want your money to go wasted on jerks like me or CC companies, start living under/within your means
Also check out Total Money Makeover. I was living check to check and barely able to pay my bills and that book changed my life. It was painful to cut some things and change my way of living but I'm so happy that I did.
I was thinking uber
Zero
Depend on what your use to limit credit ratio is. Carrying a balance is not great but it's also not the end of the world.
Get a loan from lending club and lay off the cards for awhile
That's fine if you just bought a boat or had surgery
Just bought a $15k flight, so I also have that much at the moment 😆 Though Bain money, not mine...
Live below your means, OP. You work too hard to give your salary to these credit card companies
I think you guys are misreading the post. The person is bragging about his high monthly living expense. #iamrich#