Debt

[dreamr802]

Hey everyone,
I'm 22 years old and I got myself in about $3000 worth of debt and I'm trying to get out of it. I am only making $7/hour and trying to "live" and pay everything off is hard. Does anyone have any suggestions?

[medako]

make more than your minimum payment, this will save in interest and get it paid off faster.

if your debt is currently on a high interest credit card, switch to a lower rate card (or one that offers 0% interest for a year or so, if possible) or call the credit card company and ask them to lower your interest rate.

If you have debt in several places, see about consolidating and making just one payment and interest rate instead of several.

[medako]

I just thought of something else...

save in places you can to be able to afford more to debt payments. Cut out unnecessary eating out, entertainment, and purchases. Clip coupons, take lunches to work, rent movies instead of watching them in the theater, ask yourself "do I really need this?" with purchases. You'd be surprised what you don't really NEED.

[KeLLi]

I'm about $4,000 in debt right now. Slowly paying them off.

[dreamr802]

Thanks for your ideas. I will definitely see about consolodating my debt, but how do I do that if they are all in different places?

[lcsamano]

You go to a bank and see about consolidating all of the outstanding debts that you have. The loan pays the debt of then you just pay the bank.

[Gilipsie]

Please do not do the mistake alot of people do after they consolidate and that is to go run up more debt on their dredit cards. It is easy to do.

[kitsch_k]

maybe u should cut costs on the things u dont really need but u just want to have?! me i get to save just by cutting down my dinner out costs, my coca cola cravings..u know little things can help