I PAID OFF $10,000 IN CREDIT CARD DEBT IN SIX MONTHS GJFREKJGHRJFEGK I’m too excited WOW. Here’s a very detailed video of my debt payoff process!! #personalfinance #debtpayoff #creditcarddebt
TIME STAMPS:
0:00 – intro
2:01 – how I got into 10k of credit card debt
5:30 – get serious and commit to a debt payoff plan
6:30 – balance transfers
7:23 – track your income and expenses & create a budget
7:59 – pay more than minimum payments (debt snowball vs debt avalanche)
9:04 – find extra money to use toward debt (cut your spending and/or make more money!)
11:18 – I have definitely increased my income (+ my estimated total income for 2019)
12:50 – what percentage of my income goes toward debt?
14:35 – how much did I pay each month?
16:40 – my debt payoff hype song lmfao
17:36 – how do you resist lifestyle inflation / spending more as you earn more?
18:43 – how do you stay motivated during debt payoff?
19:57 – what was the most helpful way to think about the process of paying off debt?
20:33 – are you saving while paying off debt?
21:13 – what’s next? Pay off my student loans! + my current total loan balance
22:49 – how has your credit score changed?
23:24 – did you still use credit cards while paying them down?
24:46 – what do you recommend for young people regarding credit cards and student loans?
SOURCES & REFERENCES:
Opening Up About My Student Loans and Credit Card Debt – https://youtu.be/tku2C-DgA6s
Finances of a Full-Time YouTuber (taxes, budgeting, etc) – https://youtu.be/3NMQyrvp7o8
Debt Snowball Vs Debt Avalanche | Which is the Best Debt Payoff Strategy? – https://youtu.be/jtgnRJKSJlw
What is a balance transfer? – https://www.creditkarma.com/credit-cards/i/what-is-balance-transfer/
The Financial Diet – https://www.youtube.com/channel/UCSPYNpQ2fHv9HJ-q6MIMaPw
Aja Dang – https://www.youtube.com/user/ajabdang
Sarah Nourse – https://www.youtube.com/channel/UCDbGw5fdxTLjRsNnD7_Jwvw
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Hello my dudes! My name is Tiffany Ferguson. I’m a 24 year old sharing my thoughts and life experiences. Here on Tiffanyferg, recently I’ve been working on my Internet Analysis series, where I research and discuss topics related to social issues and media. I also occasionally talk about my experiences with college, traveling, study abroad, veganism, and more.
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SO EXCITED!!!! Finally made some serious progress ?? hope this video is interesting or helpful!! TIME STAMPS BELOW:
0:00 – intro
2:01 – how I got into 10k of credit card debt
5:30 – get serious and commit to a debt payoff plan
6:30 – balance transfers
7:23 – track your income and expenses & create a budget
7:59 – pay more than minimum payments (debt snowball vs debt avalanche)
9:04 – find extra money to use toward debt (cut your spending and/or make more money!)
11:18 – I have definitely increased my income (+ my estimated total income for 2019)
12:50 – what percentage of my income goes toward debt?
14:35 – how much did I pay each month?
16:40 – my debt payoff hype song lmfao
17:36 – how do you resist lifestyle inflation / spending more as you earn more?
18:43 – how do you stay motivated during debt payoff?
19:57 – what was the most helpful way to think about the process of paying off debt?
20:33 – are you saving while paying off debt?
21:13 – what’s next? Pay off my student loans! + my current total loan balance
22:49 – how has your credit score changed?
23:24 – did you still use credit cards while paying them down?
24:46 – what do you recommend for young people regarding credit cards and student loans?
Now that your interest rates are lower you could start thinking about saving in the stock market and making that debt work for you. Then again it could all go away at the worst possible time. How appealing do you see that option?
Gimmie by BANKS is a bop! Congrats!!
What a QUEEN ???
This video was extremely helpful! Thanks Tiff for always turning out great content 🙂
Ugh I’m self employed, but I have 12,000 worth of student loans and I’ve been avoiding just paying it off. I need to though ?. Thanks for the kick
wow ?this is just so helpful, Tiffany. thank you for sharing this journey with us and being so candid. inspiring AND motivating to say the least
I'm a freshman in college and I'm so scared of credit cards. I spent all my savings to be here, so I know that one small accident would ruin me financially. I've been considering getting a credit card just in case, but I'm terrified of debt. So far I only have $5000 because I got a lot of scholarships and spent all $2,000 I had saved up from working in high school. I have about $200 to my name and no financial support. Any advice?
Commenting to support. Thank you for the content, im a big fan. Im also self employed experiencing my biggest year.
Pretty neat. Lol. Salute sis!
Before watching this, I'm going to guess: Live in a dorm while having a successful YouTube channel? Because my college job paid $11 an hour and was limited to weekends.
I clicked on this video SO FAST
god im so excited for you!!!!! personally i dont have much debt, like 7k, but I am hoping to save up and start renting a home with my boyfriend, and it gives me hope that I can save up to get an actual house for us to live in one day? good luck with the rest of your student loans!!! ill turn off ad blocker and watch all ads for you?
I needed this!
If you're responsible with your money but went through tough times which forced you to max out your high interest credit cards, apply for a loan consolidation through your bank! If you have a long-time history with the bank, you will most certainly receive a better interest rate. I had 3 or 4 credit cards I was trying to pay off with interest rates in the 20% + range. Every month when I'd make the minimum payment, I was only covering the cost of interest AKA getting NO WHERE.
I got a loan consolidation from my bank & my rate is below 13%. I finally see the light at the end of the tunnel. ** You can only do this if you're responsible with your finances! If not, you will most certainly end up in debt that you can never get rid of.
..And that's the tea!