So brave of you to be transparent about the state of your debt. I would strongly encourage you to seek financial counselling (in Australia this is a free service provided by non government organisations/non profits - it is different from financial advice). I'd also strongly encourage you to read The Barefoot Investor - by Scott Pape. It is super simple to follow, really sensible, and while it is set in Australia, the principles he discusses translate globally, in my opinion.
That's (kind of) the plan! I'd like to keep 1 or 2 at 30% utilization for earning points for travel and to build my credit score. Hopefully going from 10 cards to 3, max.
@@ThatLizHunter Perhaps double check with a financial counsellor as to whether it really is necessary/beneficial to have credit cards open to build your credit score. In Australia it's certainly not the case, in fact having credit cards isn't considered good at all for your credit score, and can bring it down significantly.
You should look into the taxes you will have to pay on the retirement payout. There can be stiff penalties in some circumstances.
Yes, I've estimated those taxes and the amount I've budgeted is post-tax. Putting the rest in a HYSA to use to pay taxes on this upcoming tax day.
Yea that penalty really was a shock
So brave of you to be transparent about the state of your debt. I would strongly encourage you to seek financial counselling (in Australia this is a free service provided by non government organisations/non profits - it is different from financial advice). I'd also strongly encourage you to read The Barefoot Investor - by Scott Pape. It is super simple to follow, really sensible, and while it is set in Australia, the principles he discusses translate globally, in my opinion.
You are trying and thats great! Close your cards once you pay them off ❤
That's (kind of) the plan! I'd like to keep 1 or 2 at 30% utilization for earning points for travel and to build my credit score. Hopefully going from 10 cards to 3, max.
@@ThatLizHunter Perhaps double check with a financial counsellor as to whether it really is necessary/beneficial to have credit cards open to build your credit score. In Australia it's certainly not the case, in fact having credit cards isn't considered good at all for your credit score, and can bring it down significantly.