Tired of living paycheck to paycheck, hell I’m just plain tired
Seems like I’m seeing more and more posts on Facebook where people are coming to get solutions to all sorts of problems. I guess we’ll see if I can get lucky too!
I’m a 29m, who racked up quite a bit of credit card debt (23k). I’m an idiot, and “fell in love” and got caught up helping her move. Rented cars, bought meals, shopping, helped with all sorts of things. I also used the CC to bridge some of my own financial gaps.
I figured I would be in a position to pay it off later, once I got established. Well obviously that’s not the case because I’m here asking for help.
I do have some stocks I could sell that would eliminate a large portion of the debt, meaning my monthly payments will become much more manageable, but then I lose the ability to put that towards something in the future.
Right now with my current job, I’m pretty much just surviving, with very little getting saved. If I were to have even the slightest “emergency” I’d be buried.
So my question is, what’s my best option? Sell the stocks to alleviate the debt?
Netizens’ comments
- Sell the stocks. They aren’t going to outperform credit card interest rates
- Sell the stocks, and cut up the credit cards. Literally cut them up. Burn the pieces of them. Close the accounts so you cannot put more debt on them.
I had accrued a lot of CC debt (though nowhere near 23k) and the best thing I did was to simply not have the credit available until I fully paid off the card. - I’d look at increasing your income for starters. Find a new job, a second job. $30,000 is a really poor income assuming full time at this point in time.