The card is getting paid off in the next 12 months no matter what, cause when that starts up the interest will kill u, the truck payment has a low interest rate and is no big deal, im just worried about the credit card bill and curious about using the truck to pay it off

I think it is bad advice to get another credit card. The "free money" mentality is dangerous. Just my opinion!

Look at your monthly discretionary spending. And this is hard because you have to be brutally honest. Are there things you're spending money on you can live without for a while. Eating out, buying things impulsively, going to the bar. You get it. It sucks but if you make some hard choices, you'll get out of this. Good luck.

Sounds like you got a good head on your shoulders. I think you will be fine. We all learn as we go.

You pay one off with the other to keep the interest low. If you can control your self and work the bank against each other you win. Why pay 29% on a card when you can shop around and get another one for 0%-3%the first year.

Really a great time to suck it up and do the Pioneer thing, "Make it, make do, or do without." I've lived my whole life this way, (73 yrs old), Might not be so much fun at first, but you get used to it. Stay home, work around the house. Eat at home, go hunting/fishing, (cheap food), buy specials, dented cans and mark down meat. Got a public Library near you, they have all kinds of books, DVD's, special programs for something to do. PUT THAT CARD IN A DEEEEEP POCKET AND LEAVE IT THERE, UNLESS A DIRE EMERGENCY. You can do anything for 1 year, and when your free and clear, take a deep breath and enjoy, just don't go crazy.

I would sell truck and pay everything off then burn the card. I could be wrong but, “use towards paying off card”scares me a bit. Use it “for” paying off card 100%. Then get rid of the card. I doubt it will be 0 interest for the next 12 months anyway. They set you up to fail, then zoom to 21%.

Get a debit card instead of a credit card…if you don’t have it to spend then you don’t need it.
You probably really don’t want real advice, but if you do then cut out everything from your life except absolute necessity.
If you drink alcohol or even soft drinks…quit.
If you smoke or dip or chew…quit.
Hamburger helper for the next year is your friend.
Wild game is your friend.
Cut out all spending unless your absolute life depends on it.

It can be done, if you do your part. Does it suck? Yeah, but once you pull it off, you’ll look at spending an entirely different way. You’ll learn and start saving for things you want. The hard part then is actually spending the money you have saved, lol. Think I’m joking, lol? Wait until you get to that point. I’m not saying live like a hermit the rest of your life, but be smart after this debt is paid.


And NO I wouldn’t sell anything.

Can you make $600 a month payment on charge card ? Do you and wife have health ins ? Pay off card in 12 payments with 0 interest . Keep truck and make the payment .

You mentioned medical bills. Consider health insurance to guard against future debts from sickness or accidents.

Consider a temporary lifestyle change to reduce spending. Example: less eating out.

I agree you should keep you truck if possible. Glad you are planning.

So he sells his truck . He going to walk or roll the dice on getting one that will run until he gets it paid off? IT IS contracted for ZERO interest for 12 months. LEAVE IT ALONE !!!

X 1000% !!!
Took my lunch to work for 8 years . Vienna sausage or lunch meat on sale that week. After my bills I had 25 bucks to get thru the week on. Got paid my vacation days to pay my insurance and taxes on my vehicles for 5 years. How much vaca do you get? Maybe take 1 week and get paid for the other and keep working. ? But kids today can't do without. But the fact your asking about it means your thinking in the right direction.

The credit card may be interest free, but if not a zero balance on the anniversary date, they may hit you with retroactive interest back to the beginning. Some do, some don’t.

Read the fine print.

If you can get 28K for your truck and pay off the credit card and the truck loan which is 18K you have 10 K for a used truck and $500 less per month in loan payments. You won't get a lot of used truck for 10 K. How badlly do you need a truck versus sa a 4 wheel drive SUV? Your 10K of cash will buy a couple years newer and probably 50-70 K less miles on an SUV versus a truck.

Bryce

You won't buy much of a truck for $11000 in today's market!

Keep the current truck loan or refinance? Only you can decide ... apparently there is equity in the truck you could tap into to pay on your other loans, use as an emergency fund, etc. Does it make sense to lower the truck payment with a longer term loan or get cash to have the money to pay on other bills with at same or higher payments over a longer term??? Will the current equity in your truck remain as it is today into the future??? Look at what is already happening in the housing markets.

Credit card ... you have 12 months of using someone else's money, use it! Have a plan to pay the balance off at the end of 12 months. Don't count on interest free cards in 12 months with inflation and raising fed rates. Since it's free money, pay 3% monthly on the credit card balance and pocket the rest to built a credit rating and savings balance to pay the credit card off in 12 months in a lump sum.

If you don't have the ability to follow through on a financial plan (it appears you do), then it's better to pay everything off as fast as you can, credit card first, but put some away for an future emergency fund too.

A couple of questions first, do you have to have the truck for work or other income producing endeavors beyond just transportation to and from work? The second question is your wife's car paid for? Thirdly does your job have a fixed schedule and can you earn overtime?

If the answer to question one is that it is required for work or other income producing activities then keep the truck as you know what you have and how it has been maintained, it does little good to sell your truck, pay off your debt, buy a beater truck and then not be able to work because your truck is broken down. Now if the answer is that it is only transportation, sell the truck, pay the truck off and buy a dependable but older car as they are much cheaper than trucks right now. In the future when you get your feet under you a little better you can purchase another truck. I know it is sometimes difficult to be without a truck.

If your wife's car is paid for then that is great, either way start setting aside money every month for vehicle expenses as they are predictable. If her car is not paid for that needs to be paid off ASAP if it is having mechanical problems, having a car payment and a mechanic bill is a real bummer.

Now if your job has a fixed schedule see if overtime is available, if overtime is not available pick up a part time job until you get things in order. I know it is difficult being away and working the extra hours but you are at a turning point where you can set yourself up to do really well or get yourself in a financial mess that may take years to straighten out, it sounds like you realize this.

Now about the credit card, pay it off before it starts accumulating interest as that will snow you under quickly. Do not put anything else on it and make you and your wife a vow that the next time that you can't pay the entire balance at the end of the month that you will cancel the account and not get another credit card. I use a rewards card for most of my necessary purchases but it is always paid off at the end of the month and in the years that I have had it I have not paid them a penny in interest and have gotten hundreds of dollars of merchandise that I would have bought anyway with the rewards points.

Finally, get on a budget that you and your wife both work out and stick to it, it will take a few months to get it set up exactly as to what expenses goes in each category but stick with it until you get it ironed out.

Look into Dave Ramseys money management program, the stuff I have listed above isn't exactly in line with what he teaches but sort of follows his program, (he wouldn't be in favor of the rewards card) but he gives solid baseline advice that will help you get out of debt and stay that way. Keep an open mind even if you don't adopt his program it will make you think.

I hope your are able to sort through this and prosper.

I feel that I am good with my money and we have already cut out the extra unnecessary’s and we pack lunches everyday. I even bike 40 minutes to my construction job most days. I think I’m about as tight as the next trapper when it comes to money and diy haha. Our biggest expense is groceries because we eat all organic and healthy. It’s super expensive but we r trying to be the healthiest versions of ourselves because we r trying to start a family. My credit score is about as good as it can get and I don’t have a credit card problem. It’s just high from a series of crappy events and life getting in the way. I feel I’m at that age where it’s the house, wedding, vehicle all in a short window and the feeling of debt is new to me and I don’t like it. I can afford to make payments on both the card and the truck at the same time, the truck payment isn’t an issue at all. My question is more if financially it makes sense to trade my newer truck for an older one and use the money to pay off this credit card, free up the truck payment, and get more of a cushion but now I own an older vehicle (more miles, less reliable) or does it financially make more sense to hold onto my truck while I pay on the card for the next year and when I’m done I stay in a 2018 truck continuing to make payments but the 2018 should last longer, be more reliable. I’m trying to think more long term and maybe now I’m confusing everybody, kinda hard to type what I’m trying to ask or how I’m thinking about this haha sorry, thanks guys!

As far as an older truck, money saved on payments could buy a few truck parts with some left over. Are you able to keep up with repairs yourself? A older truck can be in pretty good shape if one seriously shops around. You need a side hustle to bump income too. Patience to let your efforts to bear fruit.

It's not hard to save when your out of debt and have a budget. Ask me how I know.

1st time a payment is 1 day late or the credit limit is exceeded the interest jumps to the max. Plus penalty. The average person is no match for CC introductory offers. Including me, only way to win is not to play/pay.