I Owed Six Figures in Credit Card Debt: 7 Things I Wish I’d Done Differently
Written by
Laura Beck
Edited by
Amber Barkley
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Credit card debt can sneak up on you faster than a surprise Amazon package — and seriously derail your finances. Just ask Jill N., who found herself staring down a $124,000 credit card bill and wondering where it all went wrong.
Now, she’s sharing her hard-earned wisdom, so you don’t have to learn these lessons the expensive way.
I Should’ve Treated My Credit Card Like Cash
“I really, really, really wish I’d treated my credit card like it was actual cash coming out of my wallet. All the experts say to do this, but did I listen? Nope!” said Jill. “It’s so easy to swipe when you don’t see the money leaving your hand.”
Jill’s right on the money here (pun intended). It’s easy to disconnect from your spending when you’re just tapping a piece of plastic. Try imagining each swipe as a $20 bill leaving your wallet — it might make you think twice about that impulse buy.
I Wish I’d Set a Budget and Stuck to It
“Looking back, I should’ve set a strict budget and actually followed it,” Jill said. “I always was like, ‘I think I spent like $40 today?!’ but never really knew. Needless to say, I was way off.”
Budgeting might not be the most fun, but neither is a mountain of debt. There are even apps now that can help you keep tabs on your spending without feeling like you’re back in math class.
I Should’ve Paid More Than the Minimum
“I always thought paying the minimum was enough,” Jill said. “I didn’t realize how much interest I was racking up by doing that. Well, I kind of did know, but it wasn’t something I really wanted to pay attention to, ya know?”
Paying just the minimum is like trying to empty the ocean with a teaspoon. Always aim to pay more if you can — your future self will thank you.
I Wish I’d Understood How Interest Works
“I didn’t really get how interest worked,” Jill said. “I thought it was just a small fee, not something that could snowball so quickly.”
Understanding APRs and how they compound can save you a world of financial pain. If you’re struggling with debt, take a minute to sit down and understand the basics about how your credit card works. Knowledge is power — especially when it comes to your finances.
I Should’ve Used My Card for Needs, Not Wants
“I used my card for everything — vacations, new clothes, nights out,” Jill said. “I should’ve saved it only for emergencies and absolute necessities.”
Jill learned a tough lesson that many of us will face: Your credit card isn’t a magic money tree. Save it for true needs or emergencies, and you’ll avoid the “how did I spend so much?” shock at the end of the month.
I Wish I’d Checked My Credit Score Regularly
Jill shared that she never checked her credit score until it was too late. “If I had, I might have realized sooner how much trouble I was in,” she said.
Your credit score is like a financial report card. Keep an eye on it, and you’ll catch potential issues before they become full-blown crises.
I Should’ve Asked for Help Sooner
“I was embarrassed about my debt, so I didn’t tell anyone or ask for help until it was overwhelming,” Jill said. “Now I’m honestly embarrassed about that. You live, you learn.”
Jill was able to crawl out from under debt with a combination of sound financial advice, new payment plans, transferring balances and getting serious about paying it all off. “At the end of the day, it wasn’t rocket science — it just kinda sucked.”
Financial struggles can feel isolating, but remember: You’re not alone. Whether it’s talking to a financial advisor or just confiding in a trusted friend, reaching out for help can be the first step towards getting your finances back on track.
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