Being a delivery driver made me realize my credit card payments were eating my take-home pay

I was dropping off a package last week at some fancy apartment complex in Austin, and the guy tipped me $5 cash. On my way back to the truck I started doing the math on what I actually keep after my minimum payments. Between my Visa balance of $3,400 and my store card for $1,200, I'm sending out almost $200 a month in interest alone. That's basically two full shifts of driving just to pay the banks for nothing. Has anyone else ever sat down and figured out what percentage of their paycheck goes to interest?

2 comments

2 Comments

lilyb279d ago

Wait $200 a month just in interest? That's practically a car payment for literally nothing. I'd lose my mind if I ran those numbers.

wilson.claire9d ago

The thing with @lilyb27 is it hits different when you actually do the math and realize how long you'd be paying that. My buddy Dave had a similar wake up call with his student loans. He thought he was making a dent but after two years of payments, his balance barely budged. It's like paying rent on a house you'll never own. Makes you want to rip your hair out honestly. And it's not even like he was being reckless, just got caught in the trap of minimum payments and high rates nobody warned him about.