I have over $40,000 in credit card debt. I can’t even afford the minimum payments anymore. It’s even at the point where I have to use my cards to buy groceries and pay some of my other bills. I’m sinking fast.
Getting a second job isn’t really an option right now. Where can I even start to make my situation better?
You are racing down a dead end street and headed for a brick wall and a financial death.
When you find yourself having to use credit cards to pay for everyday expenses because you can’t afford them, you are in big trouble.
Using the card will mask the real problem, your income is not sufficient to meet your living situation. To change the situation you are either going to have to increase your income or reduce your expenses, or a combination of the both.
You have two problems here; the income and the debt. Unless you are able to increase your income, bankruptcy is in your future. But when you go bankrupt, and you are no longer using the money from the bank that you can’t afford to pay back, then what are you going to do to get by?
I’d like for you to imagine how you would be able to live if you did not have the credit cards to fall back on. That day is quickly approaching for you. On your current path, it is not a matter of if, but when.