Comments on: This Just In: Credit Card Debt is the Most Embarrassing Kind of Debt There Is

By: Mauij

Mauij — Wed, 24 Feb 2016 17:59:53 +0000

In reply to Kelly. Just make sure that you are still paying off your credit cards as fast as you can because those interest rates are ridiculous and they are going to catch you if you don't tackle them first.

By: J. Money

J. Money — Wed, 10 Feb 2016 12:01:29 +0000

In reply to Chad @ Our Dime Our Time.

Oh wow! You guys aren’t joking around – 40% is massive! Imagine what that’ll mean for all your future goals too once it’s paid off?? Whew…. way to own it.

By: J. Money

J. Money — Wed, 10 Feb 2016 11:56:27 +0000

In reply to Tracy @ financial nirvana mama. Haha... that latter part counts for a lot! :)

By: Mortimer

Mortimer — Wed, 10 Feb 2016 06:53:18 +0000

In reply to J. Money. As someone with (now finally!!) just under $200k of student loan debt, I go back and forth on its value trade off. On the one hand, it catapulted my income to something like five times more than I was earning from my paid for English degree, but after paying for the debt, I'm not sure if I will end up better financially or not because I will have given up something like ten years of full 401k contributions... But when I pay off the debt and start saving 85%+ of my high salary will it matter? Maybe not. And my graduate degree will give me a lot of opportunities for consulting / super part time work transitioning into FIRE.

By: Chad @ Our Dime Our Time

Chad @ Our Dime Our Time — Tue, 09 Feb 2016 04:00:33 +0000

Credit cards got a hold of us for a while…but 40% of our monthly take home pay is going towards wiping those suckers out for good. We should be debt free (except our house) by the end of summer!

By: Tracy @ financial nirvana mama

Tracy @ financial nirvana mama — Mon, 08 Feb 2016 23:15:00 +0000

I never had credit card debt thanks to my parents upbringing but I had student loan at 7 percent and that sucked! Took two years to pay it off hustling in two other jobs on top of a day job as an engineer…it worked out, those two side hustles paid for it all…I wished I lived ‘cheaper’ as a student instead…I had scholarship money and still managed to rack up a loan. That was a hard lesson. On a good note, I had a lot of fun in school.

By: Bobby

Bobby — Mon, 08 Feb 2016 21:35:40 +0000

In reply to Brian @DebtDiscipline.

J.Money & Brian,

I racked up over 60,000 in credit card debt. Our small business(bricks and mortar) was slow and I was constantly consolidating over and over too.Presently, I’m on track to pay it all off by the end of 2016.Blogs like this one and contributions by readers like yourself have helped guide and inspire me that I can do this and that I’m not alone. I’ll admit there were times when I felt like giving up on life….felt so depressed and defeated.

Fortunately, we paid off our house ( I know this is backwards) in 2013. As soon as this CC debt is paid off we can start saving/investing the bulk of our business income for FI. Better late than never(we are in our 50’s).

By: J. Money

J. Money — Mon, 08 Feb 2016 20:12:49 +0000

In reply to George. BOOM. Sometimes you gotta sacrifice a little to get to that end goal. Glad you reached it, and caught yourself before you were at 18 Thousand in debt!

By: George

George — Sun, 07 Feb 2016 17:59:46 +0000

I was once owing over $8000 to a credit card company. I chose to live very cheap for half a year to pay it off. But that was a difficult experience.

By: BudgetNerd

BudgetNerd — Sun, 07 Feb 2016 13:16:17 +0000

In reply to J. Money.

Thanks dude! We ended up feeling the same way; i.e., travel hacking is great to talk about but almost useless for people who only listen to podcasts.

The best medium for information sharing when it comes to travel hacking, credit card churning and manufacture spending is through individual bloggers and perusing the Reddit/Flyertalk forums!

Again, great podcast!