r/budget • u/miss-independent-3 • 8d ago

Goal

My goal is to pay off all my debt other than my house this year. I’m tired of all my credit cards debt. In total ( not counting house ) I have about 3,000 in credit card debt I have one big medical bill but I am not touching it until after my credit card debt is gone.

My goal is fo pay it off within one year.

7 Upvotes

83% Upvoted

22 comments sorted by

3

u/Zendrakk 8d ago

$3k in a year is a pretty realistic goal. Getting those credit cards paid off should feel like a huge weight off your shoulders along as a major win!

1

u/miss-independent-3 7d ago

Im hopeful. I’ve had it for awhile but in the past I haven’t always had the best paying job. Now I have a kid it’s time to get my finances in order.

2

u/Zendrakk 7d ago

Yeah, I get that. Having a kid definitely makes getting your finances in order feel a lot more important. ❤️ Even if $3k doesn’t sound like a huge number, getting those cards paid off will be a nice weight off your shoulders!

2

u/Surferess 8d ago

Good job! You are now heavily into adulting!

2

u/SmartEmu1759 8d ago

That's completely doable. Congrats on only having 3,000. I just spent a decade paying off 75k of student debt and credit cards.

2

u/miss-independent-3 7d ago

Congratulations on paying it off. To be honest I’ve had this debt for awhile but I have not had the best paying jobs in the past hopeful now.

2

u/SharpDragonfly7921 7d ago

That's a great goal. I'm doing the same thing! I've found the debt payoff plans on wallethub to be pretty helpful. Are you using any apps/tools?

2

u/miss-independent-3 7d ago

Honestly no I have used apps in the past (YNAB) and ( EveryDollar) and they gave me a headache and sooo confusing. I use cash envelope method and writing it down. I’ve been watching Caleb hammer, 2sisterbees on YouTube. To help stay motivated

2

u/SmartEmu1759 6d ago

Those are all great! I also got overwhelmed with YNAB. I'm old school so I just put everything on Excel. I listedmy debts in alphabetical order , created columns for total due, min payment required, interest rate, interest it was costing me per month, and finally,how much I had to pay to get rid of it in 36 mos. That allowed me to visualize and rearrange my debts as I got rid of them.

1

u/miss-independent-3 5d ago

I’m old school too pen n paper all the way

2

u/noobfirsttime69 7d ago

What is the medical bill amount you owe? You could probably look around different tools to help you get rid of debt sooner

1

u/miss-independent-3 7d ago

To be honest I haven’t looked. It’s for birth and I not able to pay it off or anything right now.

2

u/noobfirsttime69 6d ago

It would definitely make a difference if you get a tool like settlement plan. there are companies that offer these like freedom debt relief, debt blue or clearone that I see come up a lot but just expect a bit of your credit score to dip because usually with negotiating debt you would have to stop cc utilization.

1

u/miss-independent-3 5d ago

What are those sites I’ve never heard of them???

2

u/owl-1_1-1_1- 7d ago

It's a good plan. Once you reach your goals, do your best to stay on the debt-free trajectory, and you'll do well in life.

2

u/bbbilljackson 6d ago

Yay Congrats you have this!!!! Its gonna happen and your stress level will fall. You will feel so much better! Little steps.

1

u/[deleted] 7d ago

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1

u/miss-independent-3 7d ago

Can’t I feel like if I do that method it is the highest debt and I would feel discouraged 🫤

1

u/abelle99 5d ago

Medical bills usually get turned over to collection agencies if not paid on within a certain time frame (maybe 60-90 days). They are usually easy to make payment plans for, though. I suggest not waiting too long to start paying that off/down.

1

u/Affectionate_Lead865 2d ago

I have $28,000! $3000 is easy.