Question

Really bummed.  I was paying everything extra on my credit cards and with carona I stopped paying anything extra with the interest it basically already back to where I started at which is just so dissapointing.Really bummed. I was paying everything extra on my credit cards and with carona I stopped paying anything extra with the interest it basically already back to where I started at which is just so dissapointing. I am not an essential worker I am a nanny for essential workers and I get paid cash so I had to do what I thought was best. Now we are back to paying what we were because were hoping its on an uprise but anyome else see such a jump backwards because of being safe with your money?  

Answer 1

As long as you make minimum monthly payments and don't spend on credit cards your balances should continue to go down. Did you end up spending more on credit? Keep your head up! You can get through this! :)

Comments

@ophthalmoscope we did just recently put half our couch on it but it was still climbing before that  at 20% interest

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I don't understand how it would climb while making minimum monthly payments and without making purchases on it. Minimum monthly payments are designed to pay off at least the entirety of the interest plus small portion of the principal balance. The only way the balance increases is either by not paying the minimum monthly payment or by adding to the balance by making a purchase.  

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@ophthalmoscope idk i went backwards on my pay off chart before I made any purchases

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For your payoff chart I would suggest only filling it in once a month after the due date. The interest is applied once a month, so if you fill it in multiple times a month you might catch it before and after the interest is applied, resulting in a step where it looks like you are going backwards. Do you think this may be what happened? Lets say you have $1k in cc debt, you pay $100 on week1, ($900), $100 week2 ($800), $100 week3 ($700) interest of $50 applied ($750) and now it looks like its a step in the opposite direction? (Numbers used were just for show) Just trying to understand where the step back is coming from, because if part of it isn't really a step back, but a misunderstanding of how things are working, it may help you be less demotivated about it going forward. ;)

Answer 2

Hang in there my friend. It’ll get better I tried the no eating out challenge on Friday but Saturday I was at Buffalo Wild Wings had McDonald’s Sunday and yesterday and Chinese on Monday I have a problem ‍♀️ but in my defense my landlord still hasn’t fixed my kitchen light so I don’t like being in there with just the stove light and the above the sink light so I eat out ‍♀️‍♀️ we shall do better. here’s to the end of may  

Comments

@woodcutter87 I could do no eating out but Jon cant. We usuallu docjust once a week but latly we have been slacking

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@sears529 that’s okay though I mean it sucks but this whole thing is crappy so we should be able to get fat in the meantime and not feel bad about it  I swear everytime I eat I just get taller and loose weight ‍♀️‍♀️

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@woodcutter87 lmfao  

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@sears529 the struggles of me