We are expecting! Pay debt or save We’re excited because we have a little one on the way. This leads into the question do we pay off debt or start saving for the baby. My wife is due in May! She has a credit card with $7600 on it @ 29% 🙁 Minimum is $303 She also has student loans with a payment around $420 Do we make minimum payments or get rid of the credit card to get more bre…

Should I withdraw from 401k to pay very high interest CC debt? Over the year 2022, I (24M) racked up a substantial amount of credit card debt. I was drinking too much, had just moved to Boston for a better-paying job (I make $85k + 10-20% EOY Bonus), and lived above my means, keeping up with the Jones. I don’t come from any money, and I got behind my skis. This happened right as interest rates were rising, …

Medical debt in New York – Advice Appreciated! I went in for a biopsy for breast cancer in 2021 in New York. Checked with my insurance to see if it was covered before, they said it was, none of it was. I paid $2,000 initially on the first three bills, then they kept sending additional bills. Total charges were $16,000. I cannot pay this, and even if I could – this is absolutely outrageous. …

I’m 30 with $62k in debt, need help creating a plan for alleviating my debt and securing my financial future! 30(m) with $62000 in debt, looking for advice on how to go about alleviating this and creating a plan for the future! Hey everyone, I’m in a pretty bad spot right now and I’m starting to feel like I’m drowning. I’m 30(m) and I’m making about 40k a year right now. I just landed this job but was unemployed for a year. Before I lost my job I had …

Having a hard time paying off debt Hi I have trying for the past year or so to pay off all my debts and I just feel these past few months have been the absolute hardest for me. Here is some background info. Needing some sense or encouragement to keep it going. Feel like I haven’t gone out or bought something we wanted in a long time. Loosing motivation. Male 28 Married. Monthly …

Pay off consumer debt or leave money in brokerage? Married. 28. Yearly income of 140k. Have a little over 180k in retirement accounts and 55k in a brokerage. Max my 401k and our Roth IRAs every year. Saving a minimum of 3k each month (including retirement). Bought the wife a new car recently and financed it through WF. With the intention of paying it off with the money in the brokerage after ma…

24 yr old Single No debt inherited 60k..what should I do now? Hey Reddit millionaires! Im 24 years old, no debt, single, living at home with one parent/one grandparent/one brother. Feels likes it’s only 3 options school, military or cert/trade jobs but that sounds so depressing. I tried community college right after HS but was young and distracted. Dropped that got sober, single & inherited 60k from my pas…

Should I Pay off Student Debt Now? So I have 17.5k of student loan debt. And I have more than enough to pay it off saved. I live in the US and qualified for the struck down debt relief program because I received grants for being part of the lower-socio-economic bracket. My mom says I should just pay month by month because the govt might one day change policy or enact a law and et…

How to leverage final savings to get out of debt Will try and make this as brief as possible…facts & circumstances below. Total credit card debt currently ~$30,000 One is on a payment plan that has ~10,000 left to pay off (~1.2k/month). Other two are open at 5 and 15 each. Two car notes, good interest rates, payoffs on each currently roughly 50,000 (950/mo payment) and the other is proba…

Transworld Systems Inc. debt collection They sent a letter in July about a medical debt that is well under 100 dollars. The issue is that I didn’t see the letter until after August the 15th. I would’ve been able to call or write to them to dispute it. I then go to the website they provided to just pay it, yet when I put in the registration code it says the account is no longer in thei…

Gifted $50k for new home construction; should I pay off debt? Family member gifted me $50k to reduce the overall principle loan amount, which makes our monthly payment lower. I have $15k in student loans, and a small car loan of $4500. Should I pay off the student and car loan off ($20k) and have $30k left to apply towards the house? Back story of the house: It’s a new construction. We fronted $100k when …

Was way too irresponsible with my debt for too many years, finally taking baby steps So I’m 32, and have about 45K in debt, which is also my annual take-home. How I got here is a combination of a few surprise expenses (surprise $4k medical bill for one) and just a really bad case of ADHD that combined my impulsive spending with my “out of sight out of mind” with my balance. Up to now I’ve managed to maintain steady payments acr…

How Bad is Collections, Really? (Student Loan Debt) Little Background: I was let go from my job in March of this year. I have been applying non-stop to new jobs since then, but I have not been able to find one(barely even a call back). I have to pay $800 a month in student loan payments(private not federal) and since I have been able, I have paid everything on-time and in full. Due to my recent f…

What’s your opinion on young people going into debt just to travel? I’m on travel tiktok a lot and I keep seeing a lot of tiktokers and comments on there encouraging “the money will come back but you’ll never be in your early 20s traveling Europe/Southeast Asia again” mantra. Now when I mean debt I don’t mean things like student loans or hospital bills. I mean like credit card or personal loans. A travel tikt…

Personal loan for CC debt? I have 11k in CC due to a series of life events including using it to make ends meet, school and honestly just not being taught anything about money and a mom who really only said “it’s fine just make the minimum payments.” I have a better job now (although I have student loans federal and private. Roughly $700 monthly which I hate but I can man…

Emergencies burned through savings and racked up debt. In the last few months, it feels like my financial situation has kind of exploded. Back in May I had about $6k in my emergency fund and was able to contribute about $700/month. Fast-forward to now, after months of one emergency after the other, (mostly house repairs and emergency vet visits) my partner and I have about $9k on balance transfer c…

Am I overacting to the amount of debt I am in? I feel so ashamed by being in cc debt. I feel like i’m constantly drowning. I got married in 2020 and had to pay for a lot of it, which was used on my credit card. Ever since then, I feel like i havent been able to come up for air and the debt just continues to pile and pile. I dont know where I went wrong (i do i think. i dont have a lavish lif…

I have over $93k in debt between different things. How do I get out of this hole? Hello everyone, As the title states, I have really dug myself a hole here. Between moving multiple times over the last 2 years and living above my means, I have racked up quite a bit of debt. I am 30 years old. I have never missed a credit card or loan payment since I opened a line of credit at 18. Here is a breakdown of my monthly expenses:   …

Credit card debt overseas So I’m a USA/German dual citizen. I live in Germant now and have a family here since a year but fell behind on my American credit card payments from the debt during Corona times and up until I left the USA. It’s about 16k between three cards. Delinquent. I don’t have any assets anywhere really. And live in an apartment in Germany. Can the credit…

Carrying a fair amount of debt but none of it seems worth paying off faster than minimums, am I mistaken? So I have gotten in the habit of accepting financing whenever the terms seem reasonable because it strikes me as a good financial move. I realize as a result I have been carrying more and more debt instead of less and less recently. I still think it is the right move but I figure it might be a good idea to get a community reality check in case t…