Nicole Lapin

This is an option on the credit card portal.

I got into credit card debt when I finally got a credit card and I was rebelling against, you know, not ever having one or stashing cash under the sink behind the maxi pads just in case.

That's just how I grew up.

But using that type of, I think, predatory...

lending can get you really, really stuck.

So $5,000 at 20%, which is not even the highest, by paying just the minimum will take you 23 years to pay it off and almost double what you're spending in interest.

So when you're thinking about debt, like you have to think about two different kinds of debt.

And what the percentage is.

Right.

And what you're doing with that.

Are you buying things?

Are you buying a depreciating asset with it?

And you're using high interest credit card debt versus your brain.

I got into $5,000 of credit card debt originally.

I broke that down by the day to get out of it.

I didn't know at the time that I was doing the avalanche method.

Yes.

There's two ways you talk about to get out of debt.

Yep.

Avalanche method and snowball method.