The following is a guest post from Dona Collins. If you are interested in guest posting at Club Thrifty, please see our guest posting guidelines here.
A while back, my finances were a mess. Despite my less-than-perfect credit, I managed to get my hands on a high interest credit card, borrowed from some payday loan places and I took out a title loan on my car. Overall, my debt was approximately $3,500. That may not sound like much compared to many other people’s horror stories, but the interest on my debts was so high that half of my paycheck was going toward interest before I even touched the principal balances. I was caught in a vicious cycle that I did not think I would ever get out of. After years of living paycheck-to-paycheck, I finally decided I had to bring things to a halt. [Read more...]