Get out of debt brehs

[FistofJustice]

Just wanted to give an update. I am down to 585 bucks. I should be able to pay this all next week when I get paid. Now I can focus on investing and saving more. I got the refund for my student loans and placed that in an Ally high-yield savings account.

 

[Pete Wrigley]

Just wanted to give an update. I am down to 585 bucks. I should be able to pay this all next week when I get paid. Now I can focus on investing and saving more. I got the refund for my student loans and placed that in an Ally high-yield savings account.

 

[winb83]

Got less than $2K of credit card debt remaining. Half of that is payments for a Samsung OLED I bought last year. That was a dumb purchase. 3 months ago this was over $5K. Probably just gonna knock this out entirely inside the next 2 months.

Car debt is about $3K remaining. I have no intention of paying that off early. In October on 2024 my 5 years will be up.

 

[jwonder]

Just wanted to give an update. I am down to 585 bucks. I should be able to pay this all next week when I get paid. Now I can focus on investing and saving more. I got the refund for my student loans and placed that in an Ally high-yield savings account.

Smart fiscally responsible man. I have Ally and Capital 1 savings accounts with over 3% interest rate. I wish I got away from Bank of America sooner with that bullshyt 0.01% rate. Acorns investing is a good way to go start investing. The have IRAs and money market accounts with robo advisors. Fundrise is similar but it's for real estate.

 

[DeuceZ]

Anyone heard of Primis Bank? Read they got a savings account with 5% APR

 

[South Paw]

Anyone heard of Primis Bank? Read they got a savings account with 5% APR

some credit unions will do that
BECU will give you close to that for a kids account

 

[BigMan]

Interest rate on my CC is killing me

 

[winb83]

Interest rate on my CC is killing me

Why are you paying interest on a credit card? Out of control debt or bad credit? I haven't paid interest in any credit cards in over a decade. If it ever got to that point I could just open a new one and do a balance transfer then pay that off. Yeah you gotta pay that balance transfer fee but it's usually under 5% so better than paying interest.

 

[BigMan]

Why are you paying interest on a credit card? Out of control debt or bad credit? I haven't paid interest in any credit cards in over a decade. If it ever got to that point I could just open a new one and do a balance transfer then pay that off. Yeah you gotta pay that balance transfer fee but it's usually under 5% so better than paying interest.

I have High CC debt for a lot of reasons

I’ll look into a balance transfer and I’m doing my taxes this week

 

[winb83]

I have High CC debt for a lot of reasons

I’ll look into a balance transfer and I’m doing my taxes this week

Yeah if you can get approved for a high enough limit it's best to get that transferred just to stop the interest. If that isn't an option you can try a local credit union and get a debt consolidation loan. Credit card interest is some of the worst interest you can pay cause it's so high. The best option is a balance transfer to a card with 0% interest for at least a year.

 

[capblk]

Been considering getting a debt consolidation loan since I have a balance spread out on four cards but not sure were to start. Anyone have any positive experience with them? I cut down my expenses as much as possible and only carry my debit card.

 

[jwonder]

Been considering getting a debt consolidation loan since I have a balance spread out on four cards but not sure were to start. Anyone have any positive experience with them? I cut down my expenses as much as possible and only carry my debit card.

I would try paying off the smaller balances first. Then transfer the big balances over to a 0% for 12 or even now that have 18 months for balance transfers credit card.

I was in the same boat and that what I did. I'm not sure how debt consolidation looks on your credit report.

 

[capblk]

I would try paying off the smaller balances first. Then transfer the big balances over to a 0% for 12 or even now that have 18 months for balance transfers credit card.

I was in the same boat and that what I did. I'm not sure how debt consolidation looks on your credit report.

I will look into making a 0% transfer for the large one since the interest is really slowing me down even when making extra payments thanks.

 

[TheKongoEmpire]

Can't relate b/c I'm a cheapskate. All I really know if community —now "state"—colleges and even tho I'm, not rich, I always ended asking how much even costed. Thankfully, even with no insurance, I've never had a medical emergency and I don't have a mortgage, car, children or even girl. I remember Meek tweetin' that if all you pay was a cell phone bill, you're a mouse. Fine but call me Mighty Mouse then. I do have a charged-off car note b/c when I totaled my czar, I didn't have GAP insurance but I'm not paying that off and trying to see if I can dispute after 7 years. Regardless, it is $5k that I don't think I'll be paying. My credit scare is 752.

 

[jwonder]

I will look into making a 0% transfer for the large one since the interest is really slowing me down even when making extra payments thanks.

Ok. But remember they are looking at the other balances. So they may not give you the credit line for the whole large balance until at least one of them are gone

I found that out the hard way.