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Forum ยป Looking to pay off 32k of debt by end of next year
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Thread: Looking to pay off 32k of debt by end of next year

post 1698462253 02-28-2024, 07:01 AM
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Looking to pay off 32k of debt by end of next year

Wife and I have done some talking and figuring and embraced the daunting goal of paying off 32k of debt by the end of 2025. It is not going to be an easy goal, but we both feel if we are very radical and life doesn't give us any curve balls it is possible. I know that raising my income is the biggest most obvious way to go about it. We are looking over all of the budget though and seeing any places to make an adjustment. For anyone who has done anything similar, do you have any tips or advice to offer?
post 1698462713 02-28-2024, 07:21 AM
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Idk your situation but two people should be able to kill what, 8k a year each? That sounds really easy and I'm not trying to larp as a 200k/yr misc liar. Just be cheap as fuk and knock it down every time you have 1k extra
post 1698462743 02-28-2024, 07:23 AM
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Buy crypto. Literally the biggest (and last) bull run is happening. You could easily turn a few grand into 10-20k just by buying and holding.
There is but one path....we kill them all.
post 1698462843 02-28-2024, 07:27 AM
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beans and rice rice and beans I dont want to see you inside a restaurant unless you are working in it
post 1698462893 02-28-2024, 07:29 AM
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Snowball method all the way. Look to pay off $500/week each of you.

Once your credit rating goes up apply for a personal loan at a lower interest rate than the loans/cards you currently have. Zero out the balances, destroy or lock away the cards and move onto killing off the personal loan.

I have used Prosper, SoFi, Leanding Club in the past with great results.

Also cut out any high expenses you have if you can. Kill the cable bill, eat out less, etc then put that money towards debt as well.
rumpler of stiltskins

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post 1698462993 02-28-2024, 07:32 AM
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What are you thinking? Are you looking to try and increase your income a bit and budget better to contribute a bit more spare income to bring down these debts or are you looking to try and short-term transform your spare cash into more cash to be able to expedite paying off these debts? I'm not a financial whizz by any means, but it seems like budgeting more strictly and devoting more money to these debts every month might be a straightforward way to do this?

Best of luck, it's a good goal.
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post 1698463133 02-28-2024, 07:37 AM
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You posted recently about paying off your newly purchased house fast AF

Is this like credit card or line of credit debt?

Anyways. If that money is on a CC, get a LOC, if you can go through your budget and can cut alot of fat, maybe going out to restaurants or buying clothes or cut down on vacations, maybe how you are buying groceries, you could allocate alot of money towards that debt. If thats the case you can probably have the bank turn your LOC to a fixed loan with a lower interest rate, won't be crazy but small amounts matter when your budgeting.

I would think you already know better than me tho.
money, cars, clothes and hoes is all a miscer knows
post 1698463173 02-28-2024, 07:38 AM
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Suck 32000 dicks at $1 a dick. Problem solved.
post 1698463713 02-28-2024, 07:52 AM
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Originally Posted By WIBELZ⏩
Suck 32000 dicks at $1 a dick. Problem solved.
What about 320 dicks at 100$ a dick?

Better get some decent lip chap and do a good job to receive glowing 5 star punting style reviews.
*Look at reflection in car window and flex every time crew*
*Use half the roll to wipe after a poo crew*
*Fart in the gym and blame rotten smell on faulty ventilation crew*
*Fart at home and blame it on the dog crew*
*Watch neutron-star density poop mock me as water flushes around it and it stays put crew*
*Drive 2 minutes in the summer and back of shirt gets completely wet crew*
*Coffee black as midnight on a moonless night crew*
*Fat shame my cat on a daily basis crew*
post 1698463893 02-28-2024, 07:58 AM
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Originally Posted By lightsarefallin⏩
What about 320 dicks at 100$ a dick?

Better get some decent lip chap and do a good job to receive glowing 5 star punting style reviews.
Don't forget the upselling through DFK and CIM!
See ShakeBrah's signature
post 1698464043 02-28-2024, 08:03 AM
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Originally Posted By lightsarefallin⏩
What about 320 dicks at 100$ a dick?

Better get some decent lip chap and do a good job to receive glowing 5 star punting style reviews.
OP is a cocking sucking whore. He'll have more fun with 32000 dicks vs 320 dicks.
post 1698464313 02-28-2024, 08:12 AM
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Originally Posted By ExPatriot⏩
Don't forget the upselling through DFK and CIM!
Don't forget OWO or whatever it was (oral without condom).

Apologies to OP for derailing his thread. But, at the same time, it's quite appropriate that a misc thread would organically deviate into discussing aspirating shaft.
*Look at reflection in car window and flex every time crew*
*Use half the roll to wipe after a poo crew*
*Fart in the gym and blame rotten smell on faulty ventilation crew*
*Fart at home and blame it on the dog crew*
*Watch neutron-star density poop mock me as water flushes around it and it stays put crew*
*Drive 2 minutes in the summer and back of shirt gets completely wet crew*
*Coffee black as midnight on a moonless night crew*
*Fat shame my cat on a daily basis crew*
post 1698464873 02-28-2024, 08:26 AM
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Originally Posted By Tuga88⏩
Buy crypto. Literally the biggest (and last) bull run is happening. You could easily turn a few grand into 10-20k just by buying and holding.
Why last?
post 1698466993 02-28-2024, 09:18 AM
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Originally Posted By lightsarefallin⏩
Don't forget OWO or whatever it was (oral without condom).

Apologies to OP for derailing his thread. But, at the same time, it's quite appropriate that a misc thread would organically deviate into discussing aspirating shaft.
See ShakeBrah's signature
post 1698468063 02-28-2024, 09:50 AM
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I'm looking to do the same this year, OP...a little less than you ~29k. The advice I can give is to view this as a short, sacrificial time in your life. Cut money where possible, knowing this isn't forever. The sooner you reach your goal, the sooner that cash can be allocated elsewhere. Good luck, phgt!
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post 1698468133 02-28-2024, 09:53 AM
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Just sell half a bitcoin that you bought a few years ago.

SRS.
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post 1698473963 02-28-2024, 12:07 PM
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OP you should be smart enough to pay off your 32k debt in an acceptable timeframe without sacrificing a comfortable lifestyle. So many retrards say "give up cell phone, give up cable, give up internet, never go out to eat" etc. etc. etc. and they end up cracking, loosing their minds from giving up all the pleasant things life offers. Besides, all that stuff is $100 here, $75 there, it's chump change. It's not $1000s monthly like a decent salary increase will provide.

Get a better job, make more money, and just make steady payments on everything with your spouse till its gone. Maybe it will take a year, but maybe it will take three. Who gives a fuk? As long as it disappears and you're consistent that's what matters. The fastest path to success is a higher salary, nothing beats that for paying off debt.
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post 1698474253 02-28-2024, 12:13 PM
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Originally Posted By claudio_snchz⏩
OP you should be smart enough to pay off your 32k debt in an acceptable timeframe without sacrificing a comfortable lifestyle. So many retrards say "give up cell phone, give up cable, give up internet, never go out to eat" etc. etc. etc. and they end up cracking, loosing their minds from giving up all the pleasant things life offers. Besides, all that stuff is $100 here, $75 there, it's chump change. It's not $1000s monthly like a decent salary increase will provide.

Get a better job, make more money, and just make steady payments on everything with your spouse till its gone. Maybe it will take a year, but maybe it will take three. Who gives a fuk? As long as it disappears and you're consistent that's what matters. The fastest path to success is a higher salary, nothing beats that for paying off debt.
My job has a variable pay, based upon my sale and production. Sales have been up and set for a record Q1 so that is a big help.
post 1698474473 02-28-2024, 12:16 PM
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I like the snowball method because you see results quick and it keeps you motivated. you need small wins for the ultimate large win of being debt free.
post 1698474523 02-28-2024, 12:17 PM
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expect curveballs but good luck regardless
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post 1698502843 02-29-2024, 05:28 AM
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Originally Posted By claudio_snchz⏩
. Besides, all that stuff is $100 here, $75 there, it's chump change.
No it's not.

Yes a big salary increase will help OP but that "chump change" adds up and allows you to double up on the minimum payments or throw more at the smallest balance.
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post 1698508153 02-29-2024, 08:11 AM
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Originally Posted By darkninja67⏩
No it's not.

Yes a big salary increase will help OP but that "chump change" adds up and allows you to double up on the minimum payments or throw more at the smallest balance.
100% this.

I paid off $7k in CC debt over 4 months.

I switched to a cheaper gym saving $25/mo
cut YouTube TV saving $78/mo
cut netflix saving ~$15/mo
ate out just ONE time less per month (me and my girl go on a weekly dinner date) Saving approx ~$100/MO.

this saved me $218 per month , an extra $872 towards my debt over those 4 months.

And the best part is, I didnt feel like my quality of life changed at all. we hardly used Youtube TV, we cut netflix but still kept Hulu allowing us to view the shows we do like, our new gym is actually closer to our house, and we still were able to eat out and enjoy life.
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post 1698512313 02-29-2024, 09:50 AM
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Look at your biggest bills and see what can be trimmed.

usually it will be

1- home

2- car

3- food

4- credit cards

Cant really do much about the house and car in that short time but you can certainly address the food and credit card stuff.

You have to budget stuff though. Eating out and wasting money of fast food and starbucks can really add up. Sure it might only be like $100-200 per month but you could have doubled or trippled a credit card payment with that same money and not have really denied yourself anything other than a few minutes of convenience if that. Cook your own food, take your lunch to work. This makes a huge difference.

Along the lines of cooking, If you dont normally do it, cook 3 meals at a time and just eat it for theat day and the next 2. that way you only really cook a few times per week and can control the leftovers.

What i did was started with one credit card. Once that was paid off I used that payment combined with the regular payment on the next card. Once that was paid off the third card got paid at what would be technically a triple payment for me. I was not out anything extra and didnt need to make more money, It was just the payments I was already making. I had 4 credit cards that were all maxed so paid them off like this.

Then I had about 15k of tax debt so i started applying all four payments plus the normal one towards that. Obviously it started dropping pretty fast.

Once everything was paid off, i started putting all that money into savings and just watched it build up. This process never cut into my normal routines or cost me any extra because it was money already obligated for bills.

The house and car will just plod along at their own pace, You could try to pay them off but usually they are out of reach.
"To be a warrior is not a simple matter of wishing to be one. It is rather an endless struggle that will go on to the very last moment of our lives. Nobody is born a warrior, in exactly the same way that nobody is born an average man. We make ourselves into one or the other."-- Carlos Castaneda
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