The (debt) Situation
I’m a bit overwhelmed with my debt at the start of this journey. I have a mortgage, a car loan, student loans, personal loans, and credit card debt that all need to be repaid. If I take the mortgage out of the equation, I still have more debt than I’d like to admit. Below is the terrifying total of each of these categories.
- Credit Card debt = $23k @ 0-16.99%
- Credit Card Consolidation loan = $8.3k @8.39%
- Student Loans = $36.7k 3.5-6.2%
- Car loan = $11.5k @ 2.39%
- Personal loan = $8k @ 0%
- Home repair loan = $4.5k @ 0%
Grand Total = $92,000 (eeeeeekk!!!!)
Wow, to calculate that and see that total is very scary! Looks like I’ve been enjoying my hard work and then some! I’m sure many of you are in a similar situation, or maybe even worse off. It’s time to attack this debt! In my next post, I’ll outline my plan to start working toward zero debt and tell you about the 2 different debt payment methods.
How does your total compare to mine?