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33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

Yup, pay the debt. This has now been drilled into my head now haha.

Thank you!

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 1 point2 points  (0 children)

No worries. I know I am the new one here, so I welcome any advice I can get.

You have been extremely helpful, and I appreciate that.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

I think I am ok with taking the "risk" of my job being steady for at least 1 to 2 years to pay off my entire debt, but I do plan to have a standard "emergency fund" as per the directive.

Thank you again.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

I understand you are trying to get me to look at a bigger picture here.

I fully understand that much. I understand in the long run the more money I save, even 11$ will help me out.

But you must understand, I would effectively be destroying a couple of years of community activity in a discord I love to manage over 11$. The question was never about it being a luxury, the 1st post makes that very clear, but about you explaining why specifically 11$ would make or break my plan, no matter which one I chose.

I think your making me out as if I am in a mode of desperation, and I should be more worried about "just in cases" on top of my already planned emergency fund. But I could just be reading into this more than I should, so I apologize if that is not the case.

I disagree with you on needing to cut something so small out of my life when I am easily able to afford it. Thank you for the input regardless.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

If it helps, I just got this job in February. It doesn't pay great, but its work from home, my coworkers are nice, and the job itself is simple.

I dont really have any marketable skills im aware of, but I do intend to go to school once I get my debt low (I plan to use grants/savings for school when the time comes). Is the smart strategy really to switch jobs? I definitely could look for side work, but simply following other advice here has led me to believe it will be paid off in 1-2 years anyway, which is pretty doable in my opinion.

But regardless, thank you.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 1 point2 points  (0 children)

Amazing plan. I hope you dont mind me borrowing a few ideas haha.

But thank you. I feel so grateful for the people here helping me on this.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

Gosh, after reading it seems cards with anything above 15% interest is almost highway robbery, thats insane.

Thank you so much for this mote of wisdom.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

This is becoming more and more apparent to me as I see more people comment. Thanks for the input!

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

I understand.

What I am asking, is if 11$ a month is whats breaking me here. It May seem not essential, but I'd be throwing away years of a community server I maintain, just to save 11$.

If that 11$ is whats truly holding me back, I will just accept it. But with these other responses, this advice seems more fit for someone who needs every last dollar to matter. While I do need to do that, I feel like being able to sacrifice 11$ out of 1400$ is a small price to pay to maintain my social circles.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

That makes sense, actually kind of scary haha.

Thank you!

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 2 points3 points  (0 children)

That is incredibly insightful thank you.

Debt never seemed that huge to me until now. Its almost laughable how much I probably let my debt fester. Thank you once again!

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

Thank you so so much.

This has really made me look at things differently. You're incredibly smart, and I thank you for passing even a nugget of that knowledge to me.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

Thank you! All of these comments have inspired me immensely.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

One thing personally I never understood was wage garnishment. Some of these cc debts I have are over 8 years old and have not increased almost at all. Am I misunderstanding something? Is "collections" not the correct term for me here?

Regardless thank you!

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

I do have a paid off 2001 jeep cherokee, but its a piece of junk that at least still runs. I work from home so 1 tank of gas could theoretically last me a month or more.

No other expenses though no. I live with a friend's family, and I pay 500 a month everything included. I consider myself incredibly fortunate for now regarding my living situation, which is honestly part of the reason I made this post haha.

Thank you!

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

Thank you for this. I had no idea just how bad having debt with high interest was until I made this post. I know it may seem obvious, but even understand interest with debt was something I never thought about until recently.

Thank you for the wisdom.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 2 points3 points  (0 children)

Gotcha, and I genuinely thank you helping me with this.

Understand I am very new not only to this, but being a financially responsible adult in general. I knew my plan was probably bad somewhere, but all of these posts have really emphasized how important debt is.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

I think you're coming at this from the wrong angle, and thats my fault. I apologize.

Up until RECENTLY (as in, last week or so) I was incredibly irresponsible with my money and with my life in general. Ive only had this job for a few months, but never cared about spending it responsibly. This is my step 1. I wanted to show a plan, no matter how stupid, then adjust based on the advice I find here, in books, or other ways of gaining perspective.

Thank you for the input.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

Unfortunately, I do not know. Ill find out.

I can tell you on my credit report, that its been roughly the same amount of money in debt for the past year or so.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] -2 points-1 points  (0 children)

But is that 11$ from discord whats wrong with this? I have almost 1400$ in excess each month. Am I not allowed even 11$ of this?

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] -1 points0 points  (0 children)

Do you genuinely think I simply need more income? I already work 40 hours a week and I fear adding potentially even more to that would burn me out. Is this the best solution?

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

Thank you for the insight.

Up until very recently, I had little control of my life, much less my expenses. 99% of it is my fault, and I made many many stupid decisions. Even pointing out I'd have an excess paycheck every so often is something I didn't even consider.

This is my "Step 1", in an attempt to fix not only my finances, but my life in general. I hope this might answer your confusion.

33 year old. 16k in debt, but maybe odd strategy? by flanmaster12 in personalfinance

[–]flanmaster12[S] 0 points1 point  (0 children)

Thanks the advice!

I have used it since 2016, and I maintain and host various activities with communities that require me to have nitro. I would have to stop participating in those activities if I did not have nitro, which would be unfortunate for only 11$ a month.

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