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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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18707912 No.18707912 [Reply] [Original]

>tfw 20,000 credit card debt hanging around neck

Is anyone else on here retarded? I don't know how I did it but I managed to rack up 20 grand in credit card debt. I got a loan to consolidate it and lower the interest rate, I'm now going to be paying $500 a month for 5 years because of this shit. I hate being retarded. At least I learned my lesson though

I'm getting a second job here even though I make amazing money in the white collar world so that I can try and pay it off quicker.

>> No.18707926

>>18707912
Depends on what age you got the card and racked up the debt. Most people who have a lot of debt due to credit cards misused them at a young age.

>> No.18707943

>>18707912
If you made "amazing money" with your white collae job, paying 500 a month wouldn't be a big deal. At least not enough to make you need a second job. Are you a Pajeet or something?

>> No.18707945

Consolidated 40k via sofi and paid it off in 3 years at ~1300 a month.

Considated another 40k at start of year. 5 years, 700 a month.

Wife and i make ~150k a year takehome.

>> No.18707955

>>18707926
That's pretty much me it was my twenties just got my first job out of college just got my first credit cards.

>> No.18707964

>>18707943
I make 94,000 a year. It's still a lot to me, That's a car payment or half of a mortgage or an extravagant trip across the world.

>> No.18707991

>>18707964
Should be easy for you to pay your debt quickly without any second job then. Guess you really are retarded like you say

>> No.18708004

>>18707945
Thank goodness for upstart dude credit cards were at 25% APR not even kidding

>> No.18708447

I have 50k in credit card debt now. I prayed for a solution. Then I started buying Chainlink (credit card and cash, have 30k stack). I could pay off the credit cards now thanks to the Link gains but I'm just riding Link and making minimum payments on the cards.

>> No.18708490

>>18707912
do they let you pay it off in advance?

>> No.18708551

>>18707912
You’re paying 30000 for a $20000 mistake. At least do yourself a favor and work overtime to get rid of it. Don’t just TRY. Actually fucking do it. Never ever open a credit card again, this will be your life until you die an old man that worked into his 70s. Stop taking the bait, stop using credit like every other broke retard and use CASH and DEBIT. Rewards are a fucking joke compared to the risk so stop lying to yourself.

>> No.18708580

>>18707964
>>18707945
Gluttonous retard alert.
Your income would smash your debt into the ground but you just can’t stop consoooominfnog oh yeah let’s get that Lexus oh shit omg that new UHD 4K tv might just fit all the way up my asshole, honey grab the credit card we’re going to Best Buy! Shit this Treeforms couch is only $66 per month for 18 years, that’s a fucking steal! I guess two air fryers are better than one! My asshole is bleeding from all the amazon packages omfg ouchohh yeah mr usps man pls shove that package in my ass I’m gonna CONSOOOOOM on you

>> No.18708605

>>18708580
Best post this year

>> No.18708711

>>18707964
How the fuck are you not able to pay off 20k when earning close to 100k a year?
Thats money you should have on hand or easily be able to liquidate from assets.
What did you even buy for this 20k? Have you considered selling it?

>> No.18708788
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18708788

>>18708447
Bruh take some home and pay some of that down. You ain’t bankrupting that if you have assets. Go get a pet chihuhua puppy, by the time that thing dies of old age, you’ll probably still be in some form of consumer debt. Change yourself. All hail king Ramsey

>> No.18708800

>>18707912
20k is nothing for your income. Consider going into debt intermittently. Live it up one year, live like a pauper the next to pay down debt.

>> No.18708887

Wow, this must be the most idiotic posts that I have ever encountered on this board

>> No.18708907
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18708907

https://www.youtube.com/watch?v=MaAlc4YjAoc

>> No.18708933

>>18708580
Very good, fuck niggers and city faggots

>> No.18709113
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18709113

No I dont have any debt because Im not a fucking drooling retard.

>> No.18709870

>>18709113

I'm*

>> No.18709911

>>18707912
Watch this
https://youtu.be/tk5VmlSts1A

>> No.18709923

>>18707912
i did same thing in my 20s but i just didnt pay it back because after 7 years its wiped from your record

>> No.18709939

>>18707912
>30k to pay off 20k of debt
Fucking hell anon

>> No.18710038

>>18708800
I do this on a quarterly basis lol. Currently I’m almost 20k in debt but it’s for a business so it’s not terrible because I have products I could liquidate.

>> No.18710080

20k credit card debt is a lot. I use dto have 20k but have since paid it off. Don't let the fags here bother you. This happens to a lot of people. It's probably your dad's fault for not teaching you the importance of money. That's ok. Boomers are a bunch of retards. Don't hate him for it but use it as a lesson to not repeat what he did

>> No.18710292

I have 3k credit card debt and make around 55k a year.

Have a kid coming july4th and my goal is to be debt free when he arrives. I ran the number and I’ll still owe 200 dollars.

If I wasn’t doing the right thing and paying for my sons whore mother because she lost her job to Coronavirus I’d be ahead of the game.

>> No.18711146

I want to know what you spent the money on. Go to your card account and give us a snapshot of the purchases from those years OP

>> No.18711272

>>18710292
Why marry a whore lmao

>> No.18711288

>>18707912
I had $40k in credit card debt that I wiped out by filing bankruptcy ezpz

>> No.18711323

>>18707912

>be ameritard
>waste 20 grands on iPhone Playstation and Porn
>doomed to pay 5 years $500/mo to at least '''''''consolidate''''''' the fuckin debt

The retardation is not about spending.
It's about making yourself a debt slave.
And that has huge political implications.

>> No.18711389

>>18707945
Lol yeah your a retard bro

>> No.18711402

>>18707964
>mortgage
Sell your house ASAP. Use the money to pay off the debt and move into a cheap apartment.
I did the same thing: bought a house, new car, racked up credit card debt by going to bars every night. Selling the house was the best decision I made.

>> No.18711447

i've got about 20k in credit card debt too op :( Even worse i've got no job apart from hodling crypto and trading the markets neet style

I do have about 40k in assets but i dont want to spend them paying it off i'd rather take my chances and try to make more money

>> No.18711489

HOW just HOW do you people manage to rack up so much debt? Please tell me you bought silver and gold on that credit card? So at least you can liquidate it to pay it back?
No? Are people that retarded? Pls tell me, OP
Put me in screen cap

>> No.18711506

>>18711447
Yes just do this. No need in paying off anything right now unless they offer something like no interest (happened to me). So many are fucked right now so creditors sre not acting like hawks right now. 2020 is your year to save up money to begin paying off credit card debt in 2021

>> No.18711538

>>18711489
for me, it's because i was making loads of money in my 20s, into my 30s the cash dried up but my spending/lifestyle didn't

>> No.18711566

>>18711506
luckily one bank has already offered me a 3 month payment holiday thanks to corona - jokes on them it hasn't made the slightest bit of difference to my daily life kek

>> No.18711623

>>18711146
I did this one and could not believe the amount I wasted eating out, buying gas to drive around to random shit for entertainment like a new museum exhibit or festival, tickets to concerts, dates, etc. Literally in the thousands every statement and would often ask myself where the hell is my money.

Fast forward to coronavirus and my bank account is so stacked. So much so that I've been able to put the extras I spent on bullshit into crypto. This quarantine might be one of the best things to happen for me money wise

>> No.18711626

I also have $20k in amex debt. Started buying link in 2017. I could sell now and pay it off but really want to wait till eoy to do that to hopefully have better gains. I'm giving myself till Jan then I gotta sell and end the debt.

>> No.18711660

>>18711566
Digits confirm. The way I looked at it was these fuckers dont care about you so why not use this situation to find the best deal for yourself?

>> No.18711719

https://youtu.be/oD2gXY4piF4

>> No.18711943
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18711943

>>18711146
Not OP, but here's me. Went to bars every night when I was 21.

>> No.18711976

>>18708788
this guy gets it. I just payed off 12,000 this month alone.

>> No.18712193

>>18708580
Lmao

>> No.18712423

Burgers are retarded, the thread

>> No.18712499

>>18711623
I hate faggots like you

>> No.18713248

>>18708580
Kek!!!!!!!!!

>> No.18713328

>>18711272
He never said anything about marriage

>> No.18713377

>>18707964
Lmao I really do hope you’re larping. If not, anons like you are the reason you can’t trust this board

>> No.18713390

>>18711623
It took corona to get you off the CONSOOM!!! high? sad

>> No.18713559

>>18707912
https://www.youtube.com/watch?v=oD2gXY4piF4

>> No.18713755
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18713755

>>18708580
Not that guy, but I make 140k last year and most of it doesn't go to "UHD 4K TVs", it goes to fucking rent. Fucking San Francisco

>Just move

No where else in the country would pay this much. Factoring in CoL, my pay would be the same, would the massive downside that living outside of SF likely wouldn't have the same career acceleration (I'll probably make 180k this year).

The math:

Income: 140,000
Taxes (Fed+State+Fica): -44,883
Rent (3k/mo): -36,000

59,117 and I haven't even bought food yet. I can't fathom how this amount of take home would "smash" a 40k debt. But I'm guessing this post was made by a 35k/yr leech who thinks anyone making 100k is driving a lamborghini

>> No.18713888

>>18713755
You can literally pay off your debt in a year, are you retarded?

>> No.18713965

>>18713888
I'm not that guy, so I don't have 40k in cc debt - but I see how you could pay off a 40k debt, if you had 0 other expenses than food. I guess where you live you get free utilities and insurance.

>> No.18714024

>>18713965
Even if you spend $100/week on groceries that is $5k a year. Let's say utilities are $150 a month, so $1800 a year. Car payments/insurance maybe $400/month, so $5k a year. I'm not seeing an issue where you can't pay off 40k in debt with 60k in vash in a year.

>> No.18714077

>>18713755
Leave San Francisco. Not too long and you won't be able to sell your lease. Move to whatever place outside California that has the fewest homeless people and downsize there. If you fall a tax bracket that's fine, just focus on maximizing income and lose the stupid huge rent.

>> No.18714164

>>18710080
>your dad's fault
ngmi
take responsibility for your own actions
if you dont understand exponential growth at age 17 you cant blame anyone

>> No.18714203

>>18713965
bro you're actually just retarded stop buying shit you don't fucking need holy god it's not hard

>> No.18714427

can't you just be rich?

>> No.18714541

>>18713965
>0 utility and insurance

Just convert to Islam and then kill yourself. You get sent to a Nirvana with 52 virgins, I'm pretty sure you can use some of those as body shields wherever you go for life insurance and then sew the rest together human-centipede style and use them for plumbing - bam, beat the system.

>> No.18714605

>>18711943

>endless fast food alcohol and world of warcraft

how are you even alive

>> No.18714796

>>18711943
is it really common for people to spend this much without a 100k+ income?

>> No.18714821
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18714821

>>18713755
Why live in a dying state? come to FL

>> No.18714831

>>18713755
how are your routine, necessary monthly expenses larger than 1500 dollars per month

>> No.18714840

>>18710080
Your high school didn't teach economics?

>> No.18715002

>>18714821
>FL
Post salary
>>18714831
Not that guy. I don't have a wife and/or kids. To me taking 3 years to pay off 40k is the upper end of what I would consider acceptable. Saying that 140k/yr salary would "smash" a 40k debt doesn't make sense.

I put 10% of my income into a 401k (-10k), and I spend another 10% gambling degenerate options with /smg/. I can totally see taking 3 years to pay off 40k.

>> No.18715113

>>18715002
I'm in college so no job yet, but FL has a lot of opportunities

>> No.18715139

>>18714821
>Why live in a dying state? come to FL
Is this supposed to be ironic? Florida is literally god's waiting room.

Also its the worst fuck state in that 3rd world country.

>> No.18715190

>>18715139
What state do you consider the best, and where are you from

>> No.18715251

>>18715190
There is no one best btw, but if I was pressed Id say Wyoming. fuckin Bootiful.

Me I'm in the Uk

>> No.18715310

>>18715251
Would you say a Vacation in UK is worth it? compared to FL or Wyoming

>> No.18715445

>>18715310
>Would you say a Vacation in UK is worth it?
Of course, bring a brolly though
No point in FL, Cali is better, it has all the tourist shit (except NASA) FL has.
Wyoming is great b/c of the bucolic surroundings. As such, few natives. It's not really a 'Vacation' state though.

>> No.18715454

I spend less than $1k a month, including rent, utilities, insurance, etc. How the fuck do you people get in over your heads like this?

>> No.18715523

>>18713755
You should be saving $40,000 a year

>> No.18715548
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18715548

>>18707912
I have the opposite issue
no liabilities just no desire to make money

>> No.18715578

>>18707912
Buy 10,000 Beam for $3K right now and pay off your CC's when it hits $5 EOY. problem solved desu.

>> No.18715601

i pay my credit card in full twice a month as a 50 grand poorfag and this is how you richfags operate? lol

>> No.18715681

>>18715454
It's the CONSOOM pill

>> No.18715749

>>18707912
Bankruptcy. Do it.

>> No.18716073

>>18711943
Brutal. Thanks for sharing though. I'm actually thankful I grew up with such an alcoholic dad that I've spent $0.00 on bars and drinks my entire life.

>> No.18716210
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18716210

>>18707912

thanks to people like you, I continue to get rewards simply for using my credit cards responsibly. thank you.

>> No.18716213

>>18715251
UK is a failed state. Disgusting natives being replaced by invaders that are even stinkier. Cameras everywhere and loicenses for everything. No spoons allowed. Bizzaro accents that sound like down syndrome speech on 1/2 speed.

>> No.18716384

>>18713755
>>18714024
Literally this.
Cook your own food, dont have two expensive cars (do you even need two?), dont buy the latest shit if the old shit is still working (looking at mobiles - you dont need a new one every year), dont go on holidays for thousands of dollars twice a year (surprisingly many people see it as "essential"), dont buy clothes from expensive brands but slightly cheaper brands (with style, you dont need expensive clothes), drink tea instead of expensive softdrinks (also good, because it lowers your consumption of sugar)

Hell, we even both have quite expensive hobbies and dont manage to burn through 1/3 of this budget, we almost manage to save this amount each year.

>> No.18716521

>>18716213
Let me guess, You're a Mutt.

>> No.18716611

>>18707912
I had $15k cc debt and ran it through a number of balance transfer cards and paid it interest-free.

>> No.18716882

>>18707912

Where did you get the loan to consolidate it?

I have 10,000 in CC debt and need to the same as you.

>> No.18717353

>>18711943
fucking normie scum