
Swimming in Debts? This Couple Managed to Pay a Chunk of Their Credit Card Debt Because of These Smart Lifestyle Changes

What’s the biggest drawback of using a credit card? You can’t monitor your spending habits. Because you’re basically paying cashless, you don’t feel the brunt of charging huge amounts on these tiny pieces of plastic. It is easy to fall into the trap of shopping as taking home the products you have been eyeing is as easy as swiping. However, you don’t realize just how this becomes a habit until you see the bill.
Incurring $30,000 in Debt
Things get worse when you can’t settle monthly dues in full, leaving behind balances that accumulate through time. Plus, these tiny purchases’ interest may seem low in hindsight but add them all and they balloon on top of your bill. Business Insider’s Ashley Abramson recounted the moment she and her husband incurred a debt of $30,000 in three years because of mindless spending using their credit cards.

It can be easy to get trapped into the magic spell of a credit card
After a chronic illness stopped her from freelancing, they resorted to credit cards. This resulted in over $1,000 in payments each month – quite a sum that’s burdensome for them although they make it a point to make a lot of sacrifices to fix the mess. However, the couple has recently paid $10,000 of their debts in just three months, bringing down the total amount to just $20,000. Here’s how they did it:
One Vehicle
It can be a hassle to commute, especially when you’re running late, but it’s one of the sacrifices you’re going to have to make to lessen the expenses. The couple just lives with one car, which is not easy for them because their residence is in a suburban area. You might think that a car is better than none at all but for the pair, their location was a big hindrance because it’s not walkable to their workplace.

The family only uses one vehicle
The writer’s husband walks for a mile to a park-and-ride stop and hops on a bus to his work. That’s not only saving gas, but it also promotes exercise along the way. Although it entails a lot of work, the couple tries, as much as possible, to align their schedules and make it a point that one stays with their two kids at home when one is out. Speaking of their children, the eldest also takes the bus, so pick-ups are not that complicated.
They pay $350 per month for the van, $50 for the insurance, and $200 for gas. Ashley estimated their savings to about $600 to $700 a month that can go to the payment for the credit card debt.
One Income

Dining out and unplanned trips were set aside
Being a freelancer, money doesn’t come regularly, especially when you’re dealing with different clients. So for Ashley, the family had been living off her husband’s income that arrives on time. Once her payments are deposited, these go straight to their credit card debts.
But this wasn’t easy at all for the family who admittedly was used to living a lifestyle they can’t afford. Because of their strategy, dining out, buying more than what is needed, and unexpected trips had to take a backseat for now.
More in Pocket Change
-
NFL Star Carl Nassib Still Follows a Budget – Here Are Words of Wisdom from the Athlete to Kickstart Your Saving Habits
Raise your hand if you’re guilty of being a one-day billionaire whenever you get your salary. This is just one of...
November 6, 2019 -
Do You Think Shopping Sparks Joy? This is When You Really Need to Start Saving and Stop Spending!
You may say the joy of shopping is incomparable, but that’s definitely not true. What really sparks joy? Yes, buying something...
November 5, 2019 -
Entrepreneurs Who Bought the Ghost Town Cerro Gordo Had Already Spent This Much to Turn the Place into a Luxury Destination
It’s not every day that an entire town shows up on the market, so when the vast ghost town Cerro Gordo...
November 4, 2019 -
Even Financial Advisers Need Suggestions, Too: These Pieces of Advice Will Help You a Thing or Two With Money
We always hear and read about financial advice, but what really works for us? It’s not always a one-size-fits-all kind of...
October 31, 2019 -
Still Don’t Have an Idea on What to Give Your Grandkids? Help Them Secure Their Future with These Financial Presents
Grandparents have earned the reputation of spoiling their grandkids. A fight with mom and dad? Children immediately go to their grandpas...
October 30, 2019 -
Could a Five-Hour Workday Be the Solution to Boosting Employees’ Productivity?
The typical 9-to-5 job can squeeze the juice out of you – so much so that you rarely have the energy...
October 29, 2019 -
What Does it Really Mean to Be the World’s Richest? Amazon Founder Jeff Bezos’ Fortune Explained
How does it feel like to be the richest man in the world? Jeff Bezos certainly knows the answer, but he...
October 28, 2019 -
Entrepreneurs, Listen Up! Here’s How Important a Life Insurance Is for You and Your Business
You think you have everything in the world right now – a budding business, a wonderful family, a developing career, and...
October 25, 2019 -
Despite Performing Well, You’re Still Not Promoted. Here’s Why That Happens
It’s frustrating to stay in a job that doesn’t seem to have any plans of growth for you. This is especially...
October 24, 2019
You must be logged in to post a comment Login