88 thoughts on “How I Paid Off $10,000 of Credit Card Debt in 6 Months

  1. 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?

  2. I’m pretty sure the only reason I found your channel is because you talked about debt… so please keep doing it!

  3. I refuse to get a credit card because of my fear of debt. I just stick to debit cards so I can't spend more than I have.

  4. An amazing podcast is “Bad With Money with Gaby Dunn” has amazing advice for those in poverty, living in poverty, and minority challenges and advice. All guests and hosts are MINORITIES! This is important while most of the U.S population is minorities. Financial advice should fit that. I find the Financial Diet is super white washed, even fore me as a white lady.

  5. Hi Tiffany. I'm surprised you're only 24 (doesn't mean anything negative lol I think I always think White people are older than they are, and sometimes I forget I'm 27 myself).
    Good on you for getting a handle on your finances! Congrats!

    I'm also glad to see Youtubers openly talk about their finances. I think it's great for the audience to know this, and not equate your job with just all the kids flexing on their own moms nowadays. I also want to share that I am a fellow personal finance nerd. I've worked out the math for the next 20some years of my life and have a clear goal of retiring by 50 as a multimillionaire relying solely on dividends (can always branch out towards real estate and entrepreneurship before that, however).

    Even at 27, I've become sort of the big sister (more like an aunt really lol) of my teammates at work. I always talk to them about investing and budgeting. I think it's making a difference. It's crazy we were never taught about personal finance in school, so I really wanna do my part in my circle of influence and control as well. (And in case you're not using it, I highly recommend You Need A Budget! One of the core principles of "ageing your money" is a true life-changer)

  6. I live with my parents, don’t pay bills, don’t have college debt because I’m lucky enough to have a scholarship and I work about 20 hours a week for minimum wage yet I have about $3000 of credit card debt😭😭😭 you’ve really motivated me to get my shit together and get out of this debt before it gets worse

  7. This video inspired me to take a look at my own student debts (not as aggressively taxed as it is in the US but still) and my gosh.. bless you for uploading

  8. I can enjoy my life, do the activities I love and make minimum payments on my debt


    I can aggressively pay off my loans for the next five years

    i’d rather just stay married to my loans and enjoy life

  9. I haven't carried a balance on my credit card since last year! I've got a ton of student loans still, but I've been trying my best to pay as much as possible each month. Unfortunately my roommate is moving out this month so I had some unexpected expenses (I never thought I'd have to go fridge shopping at 25). I also think it's important to find balance. Dave Ramsey's plan doesn't have balance. But I could be dead tomorrow so I'm gonna get Taco Bell every now and then.

  10. Don’t you guys cards get blocked if you don’t have the money on your accounts? Like until I was 18 I couldn’t pay with my credit card if I didn’t have the money on my account and now I have a certain amount I can spend every week (something around 500€/week max) and then my credit card gets blocked. I’m sorry I have no idea how credit cards work in the US cause I live in Europe that’s why I’m wondering how it’s possible to get that much in debt by using your credit card

  11. which airline card did you pick? i travel 2,000 miles to see family 3x a year so obvi i’ve been considering it!!

  12. Whew my student debt was around 30,000 for UG but I just got my masters and now my total is closer to 90,000… Almost finished paying off my credit card (only got up to about 900 because my loans covered so much of my cost of living) and my payments for loans start in about 5 months… Its just so overwhelming

  13. Just paid $200 towards my credit card after this because my balance was at $1154 out of $2500 😅😅 don’t even know how I got it that high. But I am super motivated to save more after this, I’m in the same boat as you as far as having a pretty big leap in annual income and wanting to spend more on things I wasn’t able to before. I want to buy a house in the next couple of years and that is not going to happen if I keep spending as much as I am. So proud of you!!!

  14. when you were talking about being 19 and having no money, I felt like you were talking about me. i’m 19 and can’t find work anywhere and am in such a miserable financial situation and I wish I did so many things differently cause now i’m struggling hardcore and i hate myselffffff

  15. Yeah people who are like "never get a credit card!" are not thinking it through. You ever want to take out a big loan in the future for literally anything? Like a mortgage mayhaps? you need a fuckin credit score for that… like to think most people will be able to go their entire life without borrowing a big sum of money is not realistic (if you can do it, power to you!)
    Treat a credit card like a debit card with an extra step. I put everything on my credit card and just pay it off every week (like you said) and earn rewards and keep my credit score high.
    I will say I have parents who really taught me about this and have been able to help me out with school and I'm aware that makes a big difference.

  16. I don't know why I'm watching this lol I worked my ass off to never have depts because my father situation traumatized me

  17. This was such a satisfying video. Congrats on being Credit Card debt free! I absolutely love budgeting. I track literally every single transaction on a spreadsheet and make sure the total always matches my actual bank account balance. lol A tip for anyone/everyone, if you're able to get in a position where the previous month's income pays for the next month you'll essentially never live paycheck to paycheck again (assuming you have a steady/consistent income). Also, for those who don't know – you can refinance student loans!

  18. i always learn so much from your videos, i feel like you’re my big sister! i come from (and am currently living through) a relatively similar upbringing to yours, and i really admire how well you manage your money. it’s inspiring to see you, as well as your channel grow into such a blooming success. thank you for making the content that you do 🙂

  19. I have autopay on my mortgage but an upsetting percentage of each payment goes towards the interest. I try to pay a few hundred directly towards my principle every week or two to reduce how much that interest actually is. This sometimes means living a bit below my means, but it's totally worth it. Paying off chunks of the principle balance whenever you have the means can save you so much money in the long run. I calculated than I'll save like 20k if I pay off my mortgage in 20 years instead of 30, but I hope to do it faster than that 🙂 understanding and maintaining awareness of your finances is so important and I wish it was taught to everyone

  20. hey tiffany, what app do you use for budgeting? i was trying to find a good one but it seems all of them are subscription based. i found a balance tracker but would prefer a budgeting app 🙁 thanks!!

  21. Loved the update and like someone else mentioned I love hearing how much YouTubers make lol. I'm a personal finance nerd all around though

  22. Also, it doesn't have to do with this video persay, but i love your content because i'm a communication and cultural studies undergrad student and everything you talk about on your channel is similar to the theories i study, so its fascinating to see on youtube being explained in such an easy to understand way for other people!

  23. You should be proud of yourself!! You focused on what was going to be good for you and you made a massive change for your future!! Great jobs!!

  24. Congrats! My money hype song is "B**ch better have my money" by Rihanna LOL. So glad I'm not the only one with a money hype song

  25. Please make the video about student loans, I'm the oldest of the children in my family and going into college next year (as a 1st generation yay) and I don't want to take out any loans unless it's absolutely necessary at that point in time to do so, mostly because I come from an already poor family and things like that would help me and my cousins who are wanting to go to college as well.

  26. i told myself i was gonna really save this month…then my car decided it was time for brakes, tires, other random replacements. yay

  27. I got a sallie mae loan for $6000 second semester of my freshmen year (worst decision i've EVER made: if any of you are looking for loans, avoid sallie mae!!!!) – i ended up taking off the first semester my junior year to work full time so i could pay it off. I ended up paying it off, and i paid a little over $14,000 total, and that was after only 2 years. I can't imagine what it would've been had I waited until I graduated.

  28. ugh thank you so much for posting this! I really needed a little boost rn <3 I'm also taking the make more money route. If anyone needs to hire an illustrator or graphic designer… hit me uppp

  29. A really good resource to check out is Ellevest. It’s a female run investment firm that publishes articles and resources for personal finance. You can have an account with them to invest as well but they do a lot of content for free. There’s a big gap in financial literacy and investing for women beyond the wage gap, so there whole mission is to end that. The founder Sallie Krawcheck is super inspiring as a person too. She got kicked out of Wall St for being an ambitious woman in finance. Now she’s successful with Ellevest. Def something to think about with saving after paying debt but they have good advice for debt and money for millennials

  30. This video is so inspiring 💛 although I can't work during college being part of an intensive program (many students who do pick up jobs either fail courses or are not able to pick up job shadows offered through my program) but I can't wait to get to summer to hustle my butt off to make some money and try to keep my debt down before I graduate

  31. I needed this video!! I’m a self employed artist with a ton of student loan debt (thanks art school) and I really need to get on top of my loans. I think my interest rate is making me not make any progress. It’s like 17%. Any advice on lowering interest rate? Should I consolidate my loans or would that just make it worse? Thanks Tiffany!

  32. Congratulations Tiffany🎉🎈🎉👏👏🎉
    Clearly this is an illustration of the 1st step in approaching the solution is recognition of the problem… Or at least MANEFESTING the resolution. Good luck & May your creative reservoir be in the perpetual path of the deluge!

  33. Congratulations! Very inspirational! I personally don't have debts, but I plan to go back to school within a couple years from now, and I'd love to hear what you'd have to say about student loans. I'm lucky to have completed an AA degree fully funded by the Mommy Bank, so next time I go back to school, it's only right for me to pay everything by myself 🙂

  34. Just started watching but I was super excited for this! Literally just looked at my debt this year and I've been meaning to pay off my $1500 in credit card debt 😭

  35. I'd recommend budget girl.  She is amazing!  I also recommend One Big Happy.  And congrats on paying off credit card debt!

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