How I Paid Off My First Credit Card on a Low Income

You don’t have to allow your credit to suffer because you are living on a low income.

Managing finances as a single parent on a low income can be challenging. However, I can swear to you that it’s not impossible. I know this firsthand as a single mom who recently paid off her first credit card with a $750 limit in just a few months.

In this blog post, I’ll share my journey and the strategies I used to achieve this financial milestone.

Setting the Stage

As a single mom, I understand the importance of being financially responsible, especially when it comes to managing debt. When I received my first credit card with a modest limit of $750, I knew I had to tread carefully to avoid falling into the trap of accumulating debt.

Creating a Budget

The first step was creating a realistic budget that accounted for all of my expenses, including rent, utilities, groceries, childcare, and other necessities. I meticulously tracked my income and expenses to ensure that all my money was accounted for.

Cutting Expenses

Living on a tight budget meant making sacrifices. I had to cut back on non-essential expenses such as dining out, entertainment, and impulse purchases. Instead, I prioritized…