trying to come up with savings plan

I'm going to try to save money. I'm trying to follow Dave Ramsey for repaying debt. step 1 is save 1k. That is honestly super hard for me but I'm determined to get it done. The purpose is to avoid using your credit cards when a big expense comes up.

Well I've had a lot of big expenses. Mainly car repairs but I'm getting through. Because I've been trying to save was up to 600. now I'm at 50. The account minimum.

I'm kind of in the same boat, @Aviza. I'd like to know more about savings.

Only, I am paying down credit card debts first. I just paid off a credit card's balance of a little over $1,000 just yesterday (and I recently paid of 2 other credit cards as well). I only have about $14,000 more in credit card debt (about 5 cards) left to pay off (a few of which are a little under $2000, which I intend on paying off first). I am determined to pay off all my credit cards by 2022.

I do want to save extra cash as well, but I'm not sure if now's the time to do that. I'd rather improve my credit score first.

I'm still learning about credit scores (which I now need to improve) and what it means to save. I always thought that I'd die any day now, or get traumatized again, so I spent as if today were my last day. My therapist said that this is actually a common PTSD response - at least among veterans with PTSD. I had no idea. So, now I'm learning to plan ahead for a brighter future, despite my ongoing life risk factors and feeling doom and gloom every day. It's a hard balance.

My T is very helpful with me and my finances, though I've not discussed those things for a few months now. I'm sure she would have suggested not to be so quick at paying off another credit card, but who knows. I'll talk with her about this next week.

It would be great to get some financial advice online here though.

I used to be in the same boat as you, Aviza - only getting a limited amount of money and not being able to save $1000 at all, let alone $100. I wasn't able to save anything. But now I have more money, so I can afford to save that, but I'm wanting to pay off my credit cards first.

Savings is tricky because it depends on your lifestyle and expenses.

Yeah I know the feeling. I'm paying down my debt but Dave Ramsey says to put 1k aside for emergencies first. I'm trying to do it his way but I haven't reduced my debt payments. He says pay minimum build savings than tackle smallest debt first with as much as you can.

I never heard of Dave Ramsey, but I think my veteran friend just told me about him or some other method that I'm already doing. I never read any books or anything; I just thought it was easier and more manageable to pay down all the smaller debts first, which makes me feel great when I check off a lot of debts "paid in full." When it comes to the last two big credit cards, then I'll have all this extra money because the rest of my credit cards have all been paid off - so no monthly fees going toward those things. All of what I have left over can now be applied to the last two biggest credit cards.

I can afford paying about $1000 to $1500 per month to pay off my credit card debt. After that, I want to maintain zero balances and keep the cards as a backup plan for future emergencies and government shutdowns only.

There's always room for improvement. Keep doing what you can. If your limit is paying even just $1 over the minimum payment, that's still improvement. If you can increase that to $5 over the min, then $10, then $25... you're on your way to paying things off faster! Do the best you can and reward yourself with some self-care and kudos from us here online!

Step 1 for me is to stop spending.