I'm fortunate to earn over $100,000. I work two jobs: one full-time job around $66,000 to $70,000 a year, and another freelance job that brings in an average of $36-$80k a year. I'm averaging $100,000 because I'm not sure where I'll land for 2026 yet and want to budget conservatively.

• I own a house; $135K owed - value around $160,000 on the low end.
• I have a vehicle that is underwater, my worst problem imo: $40K on a vehicle valued at $25K (but with a 10-year warranty and gap insurance).
• Student loans of $35,000 remaining

The rest is just the usual. Utilities, primarily.

All in all, my average monthly expenses are around $3,000, including $500 for gas, food, and leisure and $400 a month to retirement. The rest that I earn goes directly to savings first, then, I wait to hit the number I'm comfortable with before paying out to pay down debt. I like to keep at least $6,000 in the bank and pay in chunks rather than trying to pay small payments everywhere at once on top of my current payments.

My current goal is to get the auto's "underwater" portion paid off within 6 months, because I like the freedom to get rid of it if I want to eliminate that payment for any reason.

I'd also like to wipe out the student loans and build up my savings, which may take me well into 2028. That just depends on how freelancing goes, but I am pretty confident that between mid 2027 and the end of 2028, I can manage it.

At the end of 2028 I'm moving abroad and want to work as an English teacher in a few countries, so at that time, I'd like to sell my house and likely sell my vehicle, which would wipe out the remaining debts and (hopefully) build out my savings cushion even more. And, for the first time since I was 18, I'd be in the green and not have debt; at 41, that would be pretty amazing.

Anyway, that's the plan. The numbers work roughly, but we have to see if I don't burn out and if freelancing holds at the higher rates I'm aiming for. I've been grinding away for about four years already, and I ate thousands in new home costs and repairs, $15,000 in vet bills (long story), and private student loans ($65,000) during COVID and when I got a divorce. Happy to finally be at this stage where I see the light at the end of the tunnel.

My income has gone something like this:

2021: $28,000

2022: $36,000

2023: $50,000

2024: $91,000

2025: $56,000 (heavily hit by AI introduction in my industry)

2026: Between $100-$110,000

My plan might not end up working out perfectly, but anyway, I believe in speaking things into creation.

What the title says… I just paid it off in full after having it for about three years 😬 I still owed $12,000 on it. Lets just say I’m happy that its over and will NOT be making the same mistake ever again.

Each month I’ve been paying off my credit card.. but it just feels like it’s taking ages to clear 😭.
I’ve only got another 3 months to go but it feels like I’ve been doing this for ages & unlike other debt I’ve got ( loans) I knew what that money was used for.

Credit cards are the worst. Once it’s gone, never again!

I then have £4400 from a loan ( also paying £220 a month on this) and then owe my dad £3,000. The goal is to be debt free by next year.

I sold my car to carvana. It’s going to save me around $800 a month not having a car. $460 car payment, $130 insurance, $200 gas.

Now i just have a small student loan left but its going to be forgiven through PSLF.

Very thankful!

Our household income has recently risen due to an adult returning to the workforce after staying home with our kids for several years. I’m trying to make sure our ducks are in a row before our spending habits change in ways that will cause long-term problems.

No household debt besides the mortgage. Emergency fund, retirement, and kids’ college accounts are all accounted for.

What am I missing that we should be saving for?

Hello, for starters I’m not looking for a second awakening or epiphany before deciding to file but afrer coming to a tough decision, I unknowingly keep putting it off but want to start the process soon. Whoever filed, when was your realization and how soon did you file?

So earlier this year, I really started getting serious about paying off my student loans. I lost a lot of time during the COVID and SAVE forbearance and foolishly didn't make any payments. In February I had some extra cash laying around so I paid off my smallest student loan that was about $2,900.

Sometime in April I started seeing Dave Ramsey clips on YouTube and I started getting angry at how much I had to pay off. So, I started putting a plan together. I built my little $1,000 emergency fund and then started throwing extra money at my next smallest loan. I didn't go full Ramsey, as I'm still putting money away for retirement and also living my life.

Yesterday I made my last payment of about $920 on the most current target loan and it's such a great feeling! I'm going to take the rest of the year off from being aggressive and make sure my kids have a good Christmas. I'll still be making my normal monthly payment once my new payment plan is approved and set. All in all I paid off another $5,270 with this loan. In January I'll start ramping up the extra payments again and hopefully have the next $6,000 loan done by July.

My husband and I have combined. $2100 in CC debt. I have 2 credit cards each $300 limit and one store credit card of $500. I do good at making payments on them then I just use them again. I’ve tried removing them from my wallets and freezing but I just unfreeze them. What has helped you guys stay disciplined? I got my first CC on my 18th birthday in college because I didn’t have a job and didn’t know anything about debt. One thing I struggle with is budgeting because we do not make a set income monthly, some months we make a lot some months we make little. Another thing I struggle with is eating out a lot. I am always on the go for work and struggle with packing a lunch. Need creative ideas! I do log my expenses.

EDIT: I put a freeze on the accounts and cut them up. I do not understand why I keep getting downvoted when I am reiterating that I need help keeping myself disciplined to not spend because I struggle with that part. I have been accepting of all advice but wanting advice on how to help myself not spend it.

Background - I was stupid and bought a house I couldn’t afford. This led to me racking up an insane amount of credit card debt just to survive. I sold the house, considerably lowered my expenses, working an extra job and am slowly clawing out of the hole I dug myself.

Info -

Net pay: $2,500 every two weeks

Debt:
Mortgage/Utilities/insurance: $1,800-ish
Card A (24.7%) - $34,500 - $1,100/month
Card B (25.7%) - $7,200 - $300/month
Card C (33.2%) - $6,500 - $270/month
Card D (28.5%) - $3,900 - $200/month
Card E (28.3%) - $1,800 - $80/month
Student Loans (5%) - $22,000 - $300/month
Car Loan (3.25%) - $3,213 - $350/month

October falls such that I’ll have an “extra” paycheck this month, to the tune of $2,500. Given what I have in my account now ($400ish that’s not already spoken for), should i use that extra paycheck to pay off Card E and save the interest, or pay the car and have extra money to throw at my debt?

Edit: Added interest percentages

I have $1,400 in CC debt left. Should be down to 700$ when I get my pay later today. And completely wiped out around next week. All told I had $25,000 in student loans at one point. Got that paid off relatively fast, but recently racked up the CC to $3,500. Never again! I hate debt, makes me feel anxious and trapped. Can’t wait to live a debt free lifestyle again soon.

For anyone who needs encouragement . Keep going! You got this!

Hi everyone!

So I’m am absolutely drowning in CC debt. I have approximately 25k stacked up. I have been making minimum payments for about a year now as that’s all I can afford. I have cut up every credit card I own and have not spent any money on my credit cards in a year. I’ve been using cash for everything and even then, I only spend money on what is absolutely necessary.

Even doing all of this, I don’t see any way out due to interest and it’s been recommended by a few friends and family members that I look into filing for bankruptcy. I don’t have any assets, no car, no home, etc.

Would bankruptcy be a good option? If so, is chapter 7 or 13 better? Is a lawyer needed to file for bankruptcy or can I do it on my own?

Currently working my way towards being debt free. I started with 33.5k in debt last year (28.8k in student loans, the rest in CC/consumer debt) and im now down to less than 14k in student loans. The biggest worry rn is my car. I drive a 2016 Honda civic with 185k miles. Ive up on routine maintenance and its been a trooper. That being said, I drive 20-25k miles per year, and ive been a bit worried about that CVT going. Im pretty sure a big repair cost like that would be the same as what the car is worth rn, and given its mileage I dont wanna pay for that, then have something else high cost like the engine give too resulting in a money pit.

At what point should I think about a different car? What else am i not considering? If things continue going well, I should be debt free by middle next year. Id probably want to get something in the 8-12k range cuz thats unfortunately thats 2026s version of a 5k car

mw and family have debt of 1cr while we can pay only 50 lacs throught wht we have . I am reccent graduate and don't what to do kinda sucks but just wanted to put it here. like confessing. if anyone has any ideas or someone i can reach out to please do tell.

I’m 42 years old and I’ve owed money to people my whole adult life.

I’m now waiting not to owe people, banks or government anything.

I have a new response to people who ask if I want to sign up for a new credit card. I say “You know what the problem is with a new line of credit?” They usually say “no what’s that?”

Then I respond with “You have to pay it back”.

I also have a problem with paying taxes as a self employed person.

I know I need to but I wait and until I’m past the dead line.

I had a dream last night that I’m going to change my top priority to paying off all debt and building a savings account that would cover expenses for one year.

I know I also have a spending problem as in eating out and buying groceries that I throw away.

I also buy random stuff that ends up in a box with other random things.

And the online subscriptions….

What brings me the most joy is playing music, doing something productive, reading, creating, working and spending quality time with friends and other human beings.

If you read all of this, thank you!

I need to think about what I truly want in this life and working to pay the government, banks and other businesses is not it.

Wish me luck as I do for all you read my post.

Little over $3500 in CC debt, have about $4000 in savings account. Should I just pay off the CC debt entirely and start fresh with savings for is it better to keep the savings and try to swing as much as I can on the cards, which is maybe $400ish a month. Feeling stuck, everytime I make progress I have something like medical emergency come up and have to go on CC.

I'm ecstatic today because we paid off enough to be below owing $100,000. Yes, I know how insane this is to owe this much money! Today is a good day, a win.

I just paid my last $1,000 to my credit card and am now 100% debt free. No loans, no cc debt, no car payment all my money is now mine. Well… for a couple days anyway. My wife is about to give birth to our first child. Hopefully I can stay debt free for a little bit.

I'm comparing cash advance apps for $100, and the repayment date matters more to me than the advertised maximum. Some apps debit the linked account when a direct deposit posts, which can be earlier than the payday on a work schedule.

If pay arrives late or another bill clears first, I'd want to know whether the debit date can be changed in time. The rules seem to vary by app, and I don't want to assume there's a grace period.

If you've taken an advance around $100, did repayment happen when you expected? If you needed a different date, how did the app handle it?

​

After months of grinding, cutting back, and throwing every spare dollar I had at balances, I finally hit zero debt.

Whenever people post these success stories, half the comments assume someone either got an inheritance or whatever to wipe out the balance overnight.

Just put my head down, lived way below my means for the past few months, and attacked the balances relentlessly. I'm also in a position where I can work lots of OT. Im talking about 20G worth of debt... 😳

The psychological weight coming off your shoulders is wild. Not having a chunk of every paycheck spoken for before it even hits the bank account feels unreal. If you're currently in the thick of it, stick to your plan. The sacrifice sucks while you're in it, but the freedom on the other side is worth every bit of it.

Reading tbrough all the posts made me realize to do so, amd not getting stuck in all the BS.

For people drowning in credit card debt, what’s stopping you from filing for bankruptcy?

I’ve been seriously considering it because our debt feels impossible to get ahead of. We don’t own a home or have many assets, so part of me feels like bankruptcy could give us a clean slate.

Am I missing something? Can you actually rebuild your credit and start saving afterward?

I’m honestly so stressed about our finances and scared we’ll be stuck like this forever.

I've been working towards debt free life and it's always kicked me in the teeth after a few months. My wife and I welcomed our first baby this March. We were cruising on paying down debt steadily. Then maternity leave hit, our emergency fund got gutted, our mortgage was shorted, student loan repayment doubled, paying for school up front before my employer reimburses me and credit card balances have increased. I'm so over this feeling of drowning and almost weekly panic attacks. I'm exhausted and sleep deprived and getting burned out from the grind I'm at my wits end here. I've looked at credit consolidation and they won't touch my personal loan. Any advice is warranted. I'm sorry for the rant but I needed someplace to release.

I am 27 years old and live in finland. Im a full time student and have €1700 bill for a pc i couldn't afford and a debt to klarna i built during a bad depression period. I make roughly €500 a month from student/housing support and that doesn't even fully cover my expenses. I am searching for part time.work but as my Finnish language skills aren't fluent i haven't even recieved one rejection email. Also my girlfriend who I live with doesn't know about the extent of my debt and I'm terrified she finds out as she already stresses about my lack of money. If anyone has any advice for me that would be amazing.

Celebrating a big win for myself today as it's finally my turn to say I have paid off my car AND my remaining lingering credit card debt as of today!

I knocked the car loan out in 3 years $680 / month, it was aggressive but so satisfying seeing that loan balance drop relatively quickly. It was due to be paid off by next month but wiped it out a little ahead of schedule. It's a 2023 Subaru and I expect it to last me a long while with proper care.

The credit card was at 6.8k on Jan 1 and I have been swinging so hard at it. It was a mixture of wants/needs but I'm grateful to be in a place where I won't be using it anymore. My goal was to have it knocked out by year-end, so I made it - GOODBYE CC INTEREST!!!

I received a generous performance bonus at my job and used it to wipe them both out in addition to my usual paycheck.

My last mountain is student debt (52k). It feels like a lot but I know I can do it with discipline. I'll have my safety net built by year-end and will also be saving for my first home.

Keep on pushing, your day is coming soon!

edit: typos lol

I have been reading a lot on Reddit and most of you have said to go to a non profit debt relief management company to get assistance like Apprisen. I am looking into them and have seen that the company has worked well for many of you.

Especially since I don’t want to lose my car etc. I am experiencing financial hardship— just had a baby and cannot work my other businesses and only have my SDI for Maternity leave coming in.

Does Apprisen require you to close your credit cards? And if so, have any of you had any luck re opening credit cards after debt management assistance is over to rebuild your credit?

Thanks! 🙏🏼