cbirchmore

I'm 20 years old, a full-time employee of Wachovia Bank, and in debt.

I'm in the process of compiling information to get an overall outlook, but it's a slow process.

Debt 1: Credit Cards
>$1,900 in debt. Interest rates vary from 9.9% to 29.94% (that's a delinquent rate w/ 2 more pmts remaining!!)

Debt 2: Hospital & Chiropractor bills
>$8,000. Have made very few payments, minimal amounts.

Debt 3: Student Loans
>$25,000.

I've compiled a process to snowball my credit cards away beginning on my next payday.

My bills are also minimal. live w/ parents. Car ins: $130/ mo. Cell: $60/ mo. Gas: $100/ wk. My salary isn't that great. I was hired @ $25k, but with OT I make around $36k.

I need to know where to start. Also, I've been looking for a budget worksheet template to work with, but I can't find one that fits me. Can anyone help me?

**EDIT*** I've just opened a savings @ ING. $$50 per month deposited there to begin a savings

scottsi

25k in student loans?!? You'll be paying that until youre fourty.

fork

First, make sure you aren't paying late fees on anything, those add up to a lot more than just interest. Then I would guess just start paying off the highest interst ones first as much as you can, while making minimum payments on the rest. You could try and consolidate but your biggest debt is the student loan and you probably wont find a better rate than that. Isn't there somone you work with that would be an "expert" at these things, being that you work at a bank.

Cray91

I will guess by your spelling and that you are surprised by 25k that you have never really looked into higher education. :1

USS

----, I'm at 25k in student loans and I haven't even graduated yet :P

Credit cards > medial bills > student loans, typically.

As said, pay the minimum on medical bills/student loans until your CC is paid off, then move to the next one.

dasfinc

how are you burning $100 in gas a WEEK? and why is your car insurance so high if you live at home, mine was $50 a month back when I lived at home.

Aside from that, you have a student loan, I assume you have a degree? Go find a job that makes more money, I make more than that with no degree and I JUST turned 21 and live on my own with a car payment....

Jorsher

A large reason he could have high insurance is driving record :P

I pay $95 a month, with the cheapest company I could find, for liability on a 1990 CRX...and they don't even have a third of the violations on their records.

dasfinc

I admit, I payed $185 a month for my 2 cars before I turned 21, now I pay $153. I live on my own, and have a single speeding ticket, back when I lived at home I had a Taurus SHO, $49 a month for liability on that bad-boy.