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Home > Reader Questions > I Think I Did Everything Right, But I Still Seem to be in Debt! – Bel

I Think I Did Everything Right, But I Still Seem to be in Debt! – Bel

I have one single credit card, which I’ve had since 1998. When I went to debt counciling and we looked at all my sorces of debt, it was recommened that I consolodate everything (including school loans, travel exspenses, etc) on to my credit card because it had the lowest interest rate (about 6.5%). This worked well because my minimum monthly payments went down to about $230 a month. I should have no problem now, right? -Wrong. Between rent, car payment, insurance, credit card payment and other sundries, I end up spend just about all of my gross monthy income which is roughly $1600. I can barly save any money to actually pay off the credit card. I need a break or I’m going to go bust! At some point I would like to save money to put a down payment on a house and I would like to retirer someday from teaching. But I can’t do either with $15,000 in credit card debt.

]What do you recommend I do inorder to pay off more of my credit card debt? 2nd job seems to obvious and I don’t have that much time to spare for it. I’m a Speical Eduation teacher on my 4th year of teaching if that helps anyone. Please help!

Bel

It’s time to put debt behind you and start dreaming about your life after debt. – Click to Tweet

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I Think I Did Everything Right, But I Still Seem to be in Debt!   Bel
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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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