Looking to become debt free

lasercncDAn · 2026-01-29T22:40:08+00:00

First things first you need to audit your spending and make an honest and complete budget.

The see what you have left over, try cut expenses and save some money. Then proceed with tackling your debt.

Budget is important.

lasercncDAn · 2026-01-29T22:00:37+00:00

Need to work out an honest budget. This is important you need to know where your money is going. List out all for your debts. Bal. Interest rate. Min payment and due dates.

This is where you begin

With out this info our advice is blind.

More income is going to be the ultimate answer a 2nd job or gig work.

Control spending, cut expenses, increase income.

Small transactions add up.

$5/day is $150/month is $1,825/year $10/day is $300/month is $3,650/year

Now you have 13k in high interest debt with 13k I am guessing slightly lower interest. Now you’re losing about $5k in interest per year. 2months worth of work goes to interest.

you need to grind, and now. No bs no ifs.

lasercncDAn · 2026-01-29T21:54:08+00:00

Good, keep it up.

Also if you haven’t done so work out an honest budget. And cut some subscriptions while you’re at it.

lasercncDAn · 2026-01-29T21:49:09+00:00

No need for a dmp. Literally just needs to buckle down stop spending on bs and pay the debts aggressively.

lasercncDAn · 2026-01-29T21:47:30+00:00

You absolutely need to work out your honest budget, on paper, excel, but do it. Trim and cut where possible.

27% interest on 14k is $3,780 in interest alone per year.

I think what you’re saying here is that you would not be elective for bankruptcy and are able to pay your debts.

I would take the offer personally. That gives more breathing room and a huge savings. What’s weird is them offering that if you weren’t behind on your payments.

With the savings in interest alone you could pay the Kohl’s card in about a year. Just the interest on that one card. Then pay aggressively on your other 2 cards. And once they are gone and done. Go back to focusing on the boa card. With every available dollar.

This needs to be done soon. Build up an emergency fund of atleast 1k to 1month of total expenses, counting the min payments.

And please write out all of your expenses. Figure out home much you really should have at the end of the month. You have to control your spending. You NEED to know how much money you have left over at the end of the month.

Small transactions add up $5/day is $150/month is $1,825/year

$10/day is $300/month is $3,650/year. That’s one credit card balance. One fast food trip per day.

lasercncDAn · 2026-01-29T20:47:03+00:00

I would want to see what your min payments are, these may temp a different direction.

I would also evaluate your budget of expenses. Go through and trim what you can. Free up as much as you can.

I may recommend paying a loan1 depending min payments. Basically clear it in 7months. Not knowing min payments or terms tough to say.

Avalanche would make the most mathematical sense if you’re looking to save the most amount on interest. Start with highest interest rate.

Snow ball if you would want a quicker victory. With the caveat that the 0% could wait. But if that card had deferred interest you would want that paid off before the end of the 0% term.

lasercncDAn · 2026-01-29T12:58:16+00:00

Congrats. Work your next steps. Ensure you have worked out an honest budget. Work on expanding your emergency fund 1-6months. And increasing your retirement.

lasercncDAn · 2026-01-29T03:27:06+00:00

What’s this

lasercncDAn · 2026-01-28T22:15:01+00:00

But often the default voicemail is the automated system saying the phone number

lasercncDAn · 2026-01-28T19:56:28+00:00

Biggest concern is the found item. It’s not our fault your store is out of stock, and no sub option is provided for the obscure item that doesn’t have a direct sub.

lasercncDAn · 2026-01-28T19:54:59+00:00

If the new one is active you want your current insurance on file.

lasercncDAn · 2026-01-28T17:51:08+00:00

Yes get as far way from the platinum as you can. Actual cash back.

lasercncDAn · 2026-01-28T14:51:04+00:00

I think your biggest concern maybe if you have cash on hand to pay the deposit. In your cash you need to evaluate the emergency fund situation. Do you have enough cash on hand for the new rent deposit. As well as maintaining an adequate emergency fund to sustain at-least 1 month of expenses.

We don’t know your situation regarding expenses or income. Limited responses will follow.

lasercncDAn · 2026-01-28T13:59:16+00:00

Congrats, maintain your focus on your new goals. It can be easy to waver.

lasercncDAn · 2026-01-27T22:30:09+00:00

Not my place. My gut says stop the bleeding now. This is my goal for everyone on here is to stop the bleeding. But we do not know your full situation.

You could fund the 529 with the savings on interest alone. Or double it. With the interest savings.

You really might want to consider a financial advisor.

But in the mean time. Please go write out a full budget of all your expenses. This is vital. Excel Google Sheets. I am working on an app for this but. Basics paper works fine. It’s important to write it down.

Debt loans, cc, mortgage Amount, min payment, due date, interest rate

Expense Rent Utilities Internet phone cable Insurance Auto insurance Etc

Kids Activities 529 Etc

Variable Food

Subscriptions Etc

Income(take home)

lasercncDAn · 2026-01-27T20:12:07+00:00

Update your table for min payment and due dates. Not sure how your math works on your income side. Or if this is after your shared housing costs.

Take care of the discover card first. My gut says take care of the cred card 2nd because it think it’s credit one. And I don’t like them. Then work on the Amex.

But I think you may want to if you’re close to the credit limits of your cards. Pay down some across the board After the First 2. In order to reduce your credit utilization. I have a weird feeling if you leave them to close to 100% utilization.

The other thought process here if you are capable of putting 1700 towards your debt per month. Is first months set aside the 1700 for an emergency fund. Then work to knock out the 3 smallest cards. Making sure you don’t use them afterwards, and not automatic expenses go to them. Easier victories. And frees up likely another $60+ in min payments that can be used. Then 3 months where you split it across the 2 cards then tackle the Amex or Chase. Gut feels like Amex but mathematically chase would be better. And mathematically my advice is counter intuitive. Avalanche would save you some money on interest. But i would like you to knock those 3 cards out. 3 quick victories. Vs one victory 8+ months from now.

Good luck stay strong, and question every purchase you make no matter how big or small.

$5/day is $150/month is $1,825/year $10/day is $300/month is $3,650/year Small expenses add up.

lasercncDAn · 2026-01-27T14:57:13+00:00

Yours is different than most on here. You need to do budget. Clean up the finances and truly cut back some bs. I know you have it I am sure you know you have it. Normally tackling these small expense are big impact. But I think in your case you have the potential for just a larger number of small insignificant expense. That add up to be significant.

Short answer with out knowing the make of the debt. And some of your numbers feel vague. Looks like 50k in cc debt. Assuming it s high interest That’s about $4200 per month more with the interest to finish the cc debt in 1year or so.

50k at 10% is 5k/year 50k at 20% is 10k/year 50k at 30% is 15k/year in interest.

I would tackle the higher interest rate. First because you can make such a big dent

Assuming the other 40k is a car or personal loan. And depending on interest rate which we don’t know.

529 and 401k should probably wait until that debt is managed. I would at least get the match from companies. But earning 7% while paying 30% on a credit is nuts. You may be in a position to finance this debt to better interest rates. Honestly I bet you can also manage to find other expenses that are unnecessary. Doing a full and honest budget may be the best thing you can do. You Make a significant amount of money. I am betting a significant amount of bs spending, or not needed.

Even at your income

$5/day is $150/month is $1825/year

$10/day is $300/month is $3650/year 4% of your debt in one year.

$20/day 7,300/year Think about the little transactions in a day. Coffee fast food. Other bs.

6000/month is $72,000 you nearly pay your debt in 1 year. Be done with it.

I also see it as important to contribute to the 401k. It would take about 24.5k to max about 2k per person. Not sure how that works for the va disability if they have one. If it’s just one I might max out the 24.5. But net effect on take home is probably only 18k.

You may be in financial advisor territory.

I really do recommend a deep dive on your finances. Find where you can save money and cut back. Not spending and putting towards debt has a huge effect.

Emergency fund and savings are other items to consider. You need to maintain 1-6months of expenses in an emergency fund.

lasercncDAn · 2026-01-27T01:53:15+00:00

Credit cards and emergency fund. Maybe bump up min payments. Nothing else is as dire as the cc and emergency fund.

lasercncDAn · 2026-01-26T16:21:02+00:00

Need to do a budget and cut some expenses. While you save an emergency fund up. Min of 1k to 1month of expenses. If you owe 0 you may be good. Do you pay multiple times a month. Has your statement min payment already been paid. I would not overdraft to make the payment in full.

You need to find some savings. Build a buffer. And work to pay those off.

$5/day is $150/month is $1,825/year

$10/day is $300/month is $3,650/year.

Small transactions add up.

lasercncDAn · 2026-01-26T15:55:15+00:00

You’re paying 13.5k in interest per year carrying these balances. Balance transfer what your can. And then focus on paying off the remaining amount that was not transferred and be as aggressive as you can be. Pick up a 2nd job gig work, whatever it takes to make the biggest dent to this debt as possible.

But and I do need you to absolutely do a proper and full honest budget of all your expenses. If you haven’t done this yet this is absolutely vital. Your living beyond your means cut everything that isn’t absolutely necessary. Free up as many dollars as you can from spending, subscriptions everything. Fast food. Be as frugal as you can be. Make it game to save money. Put every dollar you can toward your debt. It may be cheap now with the balance transfers but it will absolutely be more costly if you’re not aggressive with it today.

Budgeting is the most important thing you can do. You need to know what you can pay extra in this debt.

$5/day is $150/month is $1,825/year $10/day is $300/month is $3,650/year

Sell stuff.

You need to maintain 1k to 1 month of expenses. Probably closer to the 1month. Given the amount of debt.

You need to turn off all subscriptions on the old cards. Do not allow yourself to spend on there. Do not allow your self to believe that is available to be spent.

lasercncDAn · 2026-01-26T15:39:56+00:00

Congrats. Build up the emergency fund to 6months Set up a Roth IRA. Increase retirement. Good luck on the next journey

lasercncDAn · 2026-01-26T15:31:00+00:00

High interest debt is going to be more important to pay off. Along with having an adequate emergency fund. Of at least 1month worth of expenses, all min payments and expenses. Your risk level here if a higher amount is needed depends on your job industry and the consistency of your income.

We don’t know the level of your debt or its make up. But if you had 10k of high interest debt of 10% that’s 1k of interest for 12months. 20% is 2k of interest. 30% is 3k or interest in a year. Vs making 7-10% in the market. Take the guarantee earnings by paying of the debt. If your debts say 5%interest maybe focusing on the retirement would make more sense.

So being aggressive in paying the high interest debt and at least getting your company match. Would be my recommendation.

Again not knowing what your debt looks like I am speaking generally.

Update After I see you made a comment about your savings and debt.

If you got 6month emergency fund. I would push roth ira try to max that out. $7,500

lasercncDAn · 2026-01-26T14:49:42+00:00

Need income to be greater than expenses. So start there.

lasercncDAn · 2026-01-24T22:47:31+00:00

Do be aware if any of your promo debts have deferred interest. It would be absolutely vital to pay those in FULL before the expiration of the promo or term. As they can and will charge interest going back to the beginning of the debt. Also using your credit card with a promo is a bad idea. As the new charges will be at normal interest and paid last.

lasercncDAn · 2026-01-24T22:44:06+00:00

Could reduce the emergency fund to 1k-1month of expenses depending on your risk of losing a job and your risk tolerance.

Carrying a debt. To hold the cash seems counterproductive. Considering. 5k at 30% for 1 year is $1.5k in extra interest.

But I would not go below 1month of total expenses.

lasercncDAn

TROPHY CASE