How Do I Pay My Credit Card Bills and Still Have Money for Day-to-Day Expenses? – Maria

“Dear Steve,

I am a teacher. I have enough for mortgage and bills but not for credit card payments anymore and I am going crazy with debt. I was paying my minimum payments on credit cards but then was left with no money left over for day to day expenses so I would use the little amount available on the credit cards again.

How do I pay my credit card bills and still have money for day to day expenses?


Dear Maria,

One possibility to not being able to pay the day-to-day bills is that you are just so in debt that you’ve reached the end of your financial rope. Otherwise, the answers are not difficult to spot but they are difficult to implement. In order to change the amount of money you have leftover each month you will need to increase your income, reduce your expenses or a combination of both.

If you don’t have a good idea where your money is going you can track it yourself with pen and paper or use a more high-tech approach like Mvelopes, an online service that can really help you.

You’ve actually been in this “insolvent” position for a while now. It’s just that you’ve masked the reality of your situation by using borrowed money to get by.

Outside of adjusting income and/or spending the most logical solutions to consider would be debt management or even bankruptcy. Bankruptcy might seem extreme to you now so try a debt management solution first (click here for debt management information) and see if the consolidated monthly payment using that approach works 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.
Steve Rhode
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