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I Didn’t Realize How Far In Debt I Was? – Dana

“Dear Steve,

I just realized how far in debt I am and it is all credit card debt…..$21000.00. I do not have a home mortgage. I feel like I am just spinning my wheels. I have been able to make my payments, but if I have any type of emergency, I am going to find myself in trouble. I would appreciate any advice or help you could give.

Thank you!


Dear Dana,

Thanks for reaching out for help. One item that might be helpful is my free e-book “Eliminate Your Debt Like a Pro.” It will layout a game plan for you to use to tackle that pesky debt. The book is free to all my site readers.

But you are wise to notice the lack of an emergency fund or savings account as a problem. Without some spare cash lying around then any small to medium emergency is going to wind right back up on credit again and scupper your progress.

Depending on your combined interest rates it might be better to look at a fixed rate unsecured debt consolidation loan from to pay off the balance of your debt. With a fixed monthly rate you can better plan for what your remaining payments will be.

Regardless, I’d like to see you pay yourself first with a deposit of at least $50 to $100 a month into a boring old savings account. After you put that money away then we can focus on getting you out of debt with your remaining debt repayment dollars.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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About the author

Steve Rhode

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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