Dear Savvy Sugar,
I have around $5,000 in credit card debt that I've been trying to get rid of for more than a year, but all I end up doing is transferring the debt from one credit card to another.
I've read all of your articles so far about paying off debts, and the idea of going cash-only really makes sense, but I have no idea of how to start this strategy.
Currently, all of the paycheck that hits my bank account goes straight to paying of some of my credit card debt, but then there's nothing left on the account to actually keep as cash, so I end up using my credit cards for all my expenses all the time, and that doesn't help me at all.
How can I realistically break this pattern???
Tibi
I would suggest examine your expenses. Perhaps you can cut down on some of the items that you feel like you can't live without but you really can. Maybe get a second job and that $$ can be your fun spending $$.
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1A girl should be two things: classy and fabulous. ~ Coco Chanel
Your problem is so natural in this situation. You should control your expenses from now. You should find a good job and then you can start from beginning. You can give your credit in installments to the creditor.
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jerry
Debt Consolidation
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