Managing to stay above water, trying to take control of finances before I slip again
As the title suggests, for the first time in my life I finally feel like I have some breathing room. That being said, I also feel I’m in a position where one wrong move and I’m back under water. So, I’m looking for some guidance to best setup my future, both short and long term, with a primary focus currently being on the short term.
Short Background:
I am a 28yo single male and I lived beyond paycheck to paycheck for close to two years, was consistently 1-2mos behind on my mortgage. On two separate occasions I became 3mos behind. Eviction was always one bad thing away from happening. I was supporting a household of 2 at the time and couldn’t catch up on bills, so like most, I ended up with CC debt. That being said, I’m now in a lot better position, have already made it a little over a year with zero missed mortgage payments and all other living expenses being taken care of without stress. Now, to go into the numbers.
Monthly Income - $3,431.14
Monthly Expenses - $2,525-2,825 (water bill is bimonthly)
Total Liquid Savings - $8,533.66 / 0.25% (standard savings account)
Investment - $2,390.17 / ~10% annual (Acorns)
Home Equity - ~$80,000
Vehicle - Owned
Overtime Capabilities - ~$400/shift worked up to four extra shifts per pay period
CC Debt - $10,999.92 / 14.15% interest / minimum payment = ~$250/mo
Credit Score - 678
My question is what would be the best plan of action to both begin tackling this debt, while still remaining financially stable as a homeowner and able to continue working towards the future?
TLDR:
$10,999 in CC debt, $10,923 in liquid cash between savings and investment accounts. $3,431/mo with $2,825/mo in expenses. Single 28yo male home owner with a stable salaried career, paid off vehicle, overtime pay available at $400/shift up to 4 shifts per pay cycle. What should I do?
Edit: Added minimum payment required on CC ($250/mo)