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Your Debt Story: Paying off $35,000 in credit card debt

Posted October 22, 2016

Budgeting worksheet


Our second "Your Debt Story" is shared by a blog reader who accrued debt by using her credit card and not paying close enough attention to the increasing balance.

Here is Tina's plan to pay off $35,000 in consumer debt in the next 2 years.


Your Debt Story: Paying off $35,000 in credit card debt

By: Tina

* How did you end up in debt?

I must be absolutely honest. Ridiculously dumb spending habits. Working full-time, attending college part-time, two kids and a husband, I honestly didn't have time to pay attention. If I didn't have the cash in my account I used credit. I didn't use coupons or shop circulars or as I didn't have time to think about it.

* How much total debt do you have?

With house: $300,000

Consumer Debt: $35,000

I am working hard to save and pay the consumer debt off. It has been a lot worse in the past. Making progress now. 

* What type of debt do you have?

Credit Cards

* What are you doing to pay off that debt?

I now work a part-time job instead of college. Husband puts in extra hours, and we have been working on a debt snowball and following the Dave Ramsey plan for budgeting.

* What is your time frame?

I hope to pay off the consumer debt in 2 yrs. To put more money toward debt, I am trying to learn all I can about saving on consumables, groceries, toiletries, etc. I have also cut back on cable, cell phones, etc.


Please join me in thanking Tina for sharing her story!

Like our blog reader who shared her debt story last week, Tina is following Dave Ramsey's debt reduction techniques. It sounds like she is right on track to wipe out the credit card debt in just 2 years, which is exciting!

And I think many readers can relate to how crazy life can get when you throw kids, work and school in to the mix! But the fact that she realized what was happening and adjusted her spending to knock out the debt is fantastic. Before long, that debt will be paid off completely.

If you are wondering how much time it will take for you to pay off your debt based on different payment amounts, check out these very helpful debt management calculators at Bankrate.com.

Share Your Story

Are you struggling with the burden of debt or are you living comfortably within your means debt free? Or maybe you are somewhere in the middle.

Here's a chance to share your story of debt and help others in a new weekly series we'll be running.

The purpose of the series is to learn about ways to conquer debt, one day at a time, using real life examples - your examples. If you would consider sharing your debt story, please click on the link above for Your Debt Story: A new weekly series. Each week, we'll post a new story so we can help each other get out and stay out of debt!


Please with your WRAL.com account to comment on this story. You also will need a Facebook account to comment.

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  • Amomoftwo Oct 23, 2016

    Thanks, Tina, for sharing your story! I hope you will share some of your tips on how to save and maybe how to generate more money that can help....I do really recommend SWagbucks as a way to build up some extra gift cards that you can use for Christmas and birthday presents....no cost to you so it's an bonus for more each month! After a year, I have enough for several Christmas presents that I would not normally buy.

  • cbm2phil Oct 23, 2016

    I'm pulling for you Tina. That final payment will be awesome!

  • sdoss1 Oct 22, 2016

    Thanks, Tina, for sharing your story. We are getting ready to ditch cable. We bought a Roku, have netflix, hulu, and slingTV. Those three services are much less than our cable bill. Hoping to cut the cord this month. Good luck.

  • jdouglas13 Oct 22, 2016

    Tina, thanks for sharing your story!

    Have you eliminated cable and cell phones? I am not ready to eliminate either, but am looking for ways I can cut back on both. I'd love to hear more about what you did for these two categories.