Please help with ~8K in debt. I want to try to pay majority of it off in a year.
Please help. This is my CC debt that I have. I have been trying to let the smaller monthly payments go through per month and chugging down my capital one card as hard as I can. I have $553 school payment once a month, $300 rent, and am trying to still put $550 into savings once a month so we have an emergency fund. I am planning on stopping putting money into saving on Oct 2nd when I reach a set safe amount. From there I’ll be putting $600 towards debt once a month, as well as whatever money I have to spare which can change monthly. What should I be attacking first? Should I open another card/loan w/lower APR and put it all together? Open a card/loan w/lower APR just for one or two debts, like just for capital one? Should I be trying to aggressively crunch down one or spread the $600 across the board? Am I screwed? I’m willing on getting a part time as well, I just don’t even know where to begin. Is a year too short?
Here is all of my current debt:
Capital One
- Balance: $4,667.17
- APR: 28.99%
- Minimum: $175/month
PayPal Credit
- Balance: $2,018.56
- APR: 32.99%
- Minimum: $70/month
Affirm
- Balance: $775.82
- APR: 24.89%
- Minimum: $83.34/month
Affirm
- Balance: $237.54
- APR: 35.98%
- Minimum: $39.58/month
Total debt: $7,699.09
Total minimum payments: $367.92/month
Monthly income: $3250
Edit: improved math