Money✓ Follow-up at 8 weeks8,920 views
I'm drowning in $15K credit card debt on a $45K salary
A week-by-week debt attack plan using the avalanche method, expense audit, and side income to aggressively pay down $15K in credit card debt on a modest salary.
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Follow-Up Result
8 weeks laterPaid off $4,100 in 8 weeks using the avalanche method
The Problem
I have $15,000 spread across three credit cards. One is at 24.9% APR, another at 19.9%, and the third at 16.9%. My take-home pay is about $2,800/month after tax. Rent is $950, car payment is $280, and by the time I pay minimums on everything I have maybe $200 left. I feel like I'm just treading water and the interest is eating me alive. I've never been good with money and I don't even know where to start.
The Plan
Week 1-2: The Brutal Audit
Download your last 3 months of bank statements and categorize every single transaction
Identify subscriptions you forgot about — most people find $50-150/month in unused ones
Calculate your actual minimum living expenses vs. what you're currently spending
Call each credit card company and ask for a rate reduction — worst they can say is no
Set up a simple spreadsheet: income on one side, every expense on the other
Week 3-4: Build the Attack Strategy
Use the avalanche method: pay minimums on the 16.9% and 19.9% cards, throw everything extra at the 24.9% card
Cut discretionary spending to bare minimum for 90 days — this is a sprint, not forever
Meal prep on Sundays to cut food costs by 40-60%
Sell anything you haven't used in 6 months on Facebook Marketplace or eBay
Set up automatic payments so you never miss a minimum
Week 5-6: Increase Your Income
Pick up one side gig: delivery driving, freelance work, weekend shifts — even $400/month extra changes everything
Ask your employer about overtime opportunities
Look into balance transfer cards with 0% intro APR — moving the 24.9% balance could save hundreds
Put every unexpected dollar (tax refund, birthday money, work bonus) straight onto the debt
Week 7-8: Lock In the System
Automate your debt payments on payday so the money never hits your spending account
Track your progress weekly — watching the number go down is genuinely motivating
Find a free accountability partner or join r/debtfree for support
Review and adjust your budget monthly — it's a living document, not set in stone
Resources
Undebt.it — free debt payoff calculator that compares avalanche vs. snowball methods
YNAB (You Need A Budget) — free 34-day trial, excellent for zero-based budgeting
r/personalfinance wiki — comprehensive free guide to debt management
National Debt Helpline — free financial counselling if you're in crisis
Follow-Up Result
8 weeks in: paid off $4,100. Cancelled $120/month in forgotten subscriptions on day one. Got a rate reduction on the 24.9% card down to 19.9% with a single phone call. Started doing Uber Eats on Friday and Saturday evenings which brings in about $350/month extra. The 24.9% card is now under $3,000. Still hard, but for the first time it feels possible. The spreadsheet is the thing that changed everything — actually seeing where the money goes was a wake-up call.