Transcript:
On this episode of the Personal Finance Podcast, how to pay off $10,000 of credit card debt in less than a year.
What's up everybody, and welcome to the Personal Finance Podcast. I'm your host Andrew, founder of Master money.co, and today on the Personal Finance Podcast. We're gonna be diving into how to pay off $10,000 of credit card debt in less than a year. If you guys have any questions, make sure you join the Master Money Newsletter by going to master money.co/newsletter.
And don't forget to follow us on Apple Podcast, Spotify, YouTube, or whatever podcast player you love listening to this podcast on it. If you wanna, how about the show? Consider leaving a five star rating and review on Apple Podcast, Spotify, or your favorite podcast player. Now, today we're gonna be doing something very tactical.
I'm gonna actually give you a tactical episode on how to step by step, go through and pay off $10,000 or more of credit card debt in less than a year. And so when we go through these tactics, I'm literally gonna take you through exactly what I would do in your situation. Now, this is a very aggressive strategy, and this strategy is going to be something that you will need.
To make sure that you can actually achieve this if you're gonna go after this, because we're gonna go through a scenario where I think you can truly, truly benefit from this. Now, one big thing I want most people to know out there is that credit card debt is a pants on fire emergency when it comes to building wealth.
If you have credit card debt and you are sitting at this point in time right now and you're saying to yourself, I have $10,000 worth of credit card debt. I don't know what to do about this. The interest rates are super high. I gotta figure out what I need to do next. You need to understand that this is your big priority.
So we have a bunch of steps and we map these out in Master Money Academy and other places as well. But one of the biggest things we want you to do is early on. I want you to make sure and ensure that you are going to first have one month of expenses saved up in an emergency fund. And so before you do this whatsoever, you need to have one month of expenses in that emergency fund to protect yourself.
So nothing derails you from being able to complete this mission because when you are on this mission and when you are trying to pay off this target, if an emergency pops up, I do not want it to interrupt your specific. So first you need to make sure, and this is the order that you have that one month emergency fund in place before we even start diving into this, then you can start paying off this high interest debt.
So pretty much there is not a credit card in existence that does not have high interest debt. And so I'm gonna show you today how we're going to fix that. First, the high interest for a short period of time, then we're gonna pay it off quicker. Okay? Now, why do we wanna do this? Number one is you need to do this for your family or for your future self.
This is so important to make sure that you get credit card debt paid off, because if this gets worse, or if you continue to decide to go deeper into debt, you are then deciding to reward your current self instead of your future self. We define financial discipline as someone. Who is willing to reward their future self instead of their current self.
And so when you can reward your future self, that is when you are financially disciplined. You're putting your extra dollars towards your future, and this is changing your future for life. Do this for your kids, and if you don't have kids yet, do it for your future kids. Because nobody wants to be born to a family that's in credit card debt.
They will struggle their entire. Life do this for the next generation. Part of the reason why we have this podcast, part of the reason why we talk about this stuff is to teach you how to build generational wealth. And if you are not willing to take the steps to get rid of debt that is crippling you every single month from being able to invest your dollars so that you can retire, then there is no reason in this entire world why you shouldn't even be trying to build wealth.
Because building wealth means that you need to take action on things like this. Credit card debt is absolutely a crippling thing to your finances, and the moment you realize that the moment the light bulb goes off, the more motivated you are going to be. To pay off this debt, and I need you to understand that upfront as we go through this.
If you do not learn how to pay debt off, it is very hard to retire, especially with credit card debt because credit card debt just has these high, high interest rates that can destroy you. You also wanna do this for peace of mind. If you are anxious, if you are worried, if you are stressed about money, this is going to be a situation where you will sleep so much better at night when you get your credit card debt paid off.
When you get this done, when you get it over with and when you get it behind you. And then do this for your goals. I know you have money goals, and your money goals may not be about money. They may be about your freedom. They may be about, I want my time back. I don't wanna sit in this cubicle anymore. I don't wanna work behind this cash register anymore.
I don't wanna be bagging these groceries anymore. I don't wanna work in this office anymore. I don't wanna be doing this blue collar job anymore. Instead, I want freedom. I wanna spend time with my family. I wanna spend energy with my family. That my friends, is what you need to focus on. What is the outcome that you want?
Because money is a tool that is going to allow you to get that outcome. Money is the bridge that gets you across that river. Once you realize this, that money is just a tool. It is just a tool to get you what you want out of life. That is when everything is gonna change for you. That is when all the stress is gonna melt away.
The anxiety is gonna melt away. You're gonna be motivated to learn more because you wanna understand how to conquer this debt. And so I encourage every single one of you to make sure that you do this, but also do this for your confidence. It's pretty hard to be confident with money and also be in credit card debt unless you really don't understand how credit card debt works.
And so getting this done is really important because otherwise this credit card debt is going to suck away your ability to be able to invest your extra dollars. And if you can't invest your extra dollars, you can't get your time back. And your most valuable asset is your time. Your time is what you need.
In order to enjoy this life, and so you need to make sure that you are focusing on this. And the last reason to do this is because debt is a thief. Debt is a thief in the night that is stealing away your retirement. Every single month, you're paying a 15, 20, 25, 30% interest rate. You are working with compound interest, and it's going backwards.
It's going the wrong direction, and it's stealing your money every month. Every single month, and so take control of your finances. Take that back. For you, your family, your kids, your future, your future self is gonna thank you for paying off this credit card debt. And so when we go through these tactics, I want you to think about that stuff.
I want you to think about your why. I want you to understand why you're doing this. I want you to know why you're doing this. Because if you don't write that down, you're gonna quit halfway through. And we don't quit as wealth builders here. We do not quit. And so this is gonna be a huge, huge turning point for you.
This should be the light bulb moment for you. It is time to pay off this credit card debt. It is time to get rid of it once and for all. And this is the time right now. This is the time. Okay, so we're gonna get started here. But first, let's talk about why credit card debt is so bad. Alright, so the main reason why credit card debt is absolutely terrible is because of these interest rates.
So credit cards typically hover around 22, 20 5% interest rates, which means that if you carry a balance, your debt is growing faster than almost any other investment can ever beat, including. For a lot of folks owning a business, it's like running on a treadmill, and that treadmill just keeps speeding up over and over and over again.
So just imagine for a second that you're getting through life and you're going through life on a nice, easy pace, a nice easy jog. But you find out, Ooh, I can go out and I can utilize this thing called a credit card. You go, swipe that credit card. Well, all of a sudden the treadmill starts to get a little faster.
Now you gotta go to a light jog. Okay? And as time goes on. Because you keep swiping that credit card, but you're not paying it off. That treadmill is gonna go so fast that you're not gonna be able to keep up anymore and you're gonna go flying off. And this is why so many people in this country get themselves into financial trouble is credit card debt.
I cannot stand credit card debt. I despise credit card debt. It is absolutely terrible that we are not educated about this and you may not have been educated about this, and that is something we're gonna solve right now. Because these interest rates are gonna absolutely destroy your finances if you are not careful.
And so making sure you understand that is number one. Two, minimum payments with credit card debt can lead to a lifetime of debt. If you're not careful, we wanna make sure we aggressively pay this down. I'm gonna teach you how to do that today, but we're gonna get aggressive with credit card debt. We're not gonna let it continue to grow.
We're not gonna let it be in our life for 20 to 30 years. No, no, no, no, no. We're gonna do this in a year and we're gonna get it done. Three is it steals your future. Your future every month is being robbed by this credit card debt, meaning those extra payments that you could be putting towards investments so that you could have financial freedom, those extra payments that you could be putting towards a down payment on your house or that you could be taking that vacation with.
Instead, you may have decided, okay. For this vacation. I'm gonna swipe the card again. Who cares? I'm already in credit card debt anyway. It's not a big deal. Oh, it's a huge deal, my friend. And so realizing that early on is gonna be very, very important. Do not go deeper into debt. So if you have a credit card right now and you are thinking about this, boop, take the scissors out.
And let's get to slicing. We gotta get rid of that credit card first, so we do not swipe it again. Also, it kills your cashflow, so it is very hard to budget when you have high debt payments. And so the reality is we are gonna figure out how to do this correctly for you so that you can get this paid off quicker.
Plus the stress and anxiety. This is one of the biggest reasons why we wanna get rid of credit card debt is because money is there to reduce your stress and anxiety. The problem is people that go deeper in deeper into debt just rise their cortisol levels when it comes to money. They are absolutely destroying the psychology that is around money.
So we teach a lot of money psychology here. The reason why we teach a lot of money psychology here is because 90% of building wealth is what is in your nain. It is understanding that this is all psychology. It is your behavior, it is how you act. It has nothing to do with all of your head knowledge instead is how you act.
Your psychology is everything when it comes to money. And so you need to make sure that as time goes on, you are doing things that reduces your stress and anxiety around money so that you do not have the stress and anxiety. Why? Because that means if you have stress and if you have anxiety, you're gonna make poor decisions around money, and we don't want that to happen.
And once you're in debt, a lot of people feel like there's something called the debt trap, meaning they just are in this cycle where they're gonna pay off a little bit of debt, then they're gonna extend the debt a little bit more. And they're gonna pay off a little more debt, then they're gonna start swiping the card a little bit more.
And so they get into this cycle that just never, ever, ever ends because of these high interest rates. Understanding how impactful that can be is really, really important. So let's get into the tactics. We're gonna get into the tactics on how to pay off $10,000 in credit card debt in less than one year, and we're gonna do that next.
Alright, so as we get into these tactics, I want you to understand one other things. That. Let's say for example, that you had a 20% interest rate on a credit card, and when you looked at that credit card, you said, okay, well I'm gonna buy something for $100 in that credit card and it takes you 10 years to pay off that credit card.
So that original purchase that you made at that 20% interest rate is gonna, overall over the course of that 10 years, cost you $619. For every a hundred dollars that you do not pay down each a hundred dollars is gonna cost you $619. That means in interest, you paid $519 and 70 cents. That my friends, is what the cost of holding onto this debt is going to be and why you have to pay it off.
Every $500 is going to cost you 3090 $5. You pay $2,595 87 cents in interest. Every $1,000 is gonna cost you 6,000. $191 every $2,000 is gonna cost you $12,383. Every $5,000 that you have on credit card debt is going to cost you $30,958 over the course of 10 years. Absolutely astonishing. And here's the big one, the $10,000 we're trying to get paid off, that would cost you $61,917 over the course of 10 years if you do not pay it off now.
My friends, this is a pants on fire emergency because you'd be paying $51,000 for something that costs you 10,000 or a collection of items that cost you 10,000. Now, if you're the type of person that is using credit card debt because you want to go shopping for a couple of shirts, if those shirts are worth an additional $51,000 to you, for some of you out there who are big shoppers, it's worth a Birkin bag to you.
Is that the case? If not, let's get this thing paid off. I'm gonna show you half here now. So the way that this plan is gonna work, the way that we are going to do this, is you need to be willing to get tactical about this. You need to be willing to dive deep, dig in your heels, and be able to pay off this debt.
This is strategic and this is tactical. Okay? So if you've got about $10,000 in credit card debt, I'm using this as a easy round example because a lot of people out there, when we talk to them, we say, how much credit card debt do you have? They'll say 7,000. 10,000, 15,000, 20,000. It's somewhere in that range typically.
So we're gonna use a nice even round number with $10,000. You can follow these steps with no matter how much debt that you have. So I want you to understand that upfront, okay? And here's what we're gonna do. We're gonna pay this off in a year, and we're gonna be done with it for good. So step one. Is we are gonna find a zero interest balance transfer card.
We're gonna get tactical and aggressive with this, and so because we're getting aggressive with this, you need to make sure that you can pay this off in that timeframe. So I want you to apply for a 0% a PR balance transfer card. Okay. It needs to have at least 15 months of no interest. But the longer the time horizon that you can get with no interest, the better off you will be.
'cause that gives you cushion. If you can get 18 months, great. If you can get 24 months, great. But try to find one with the longest time horizon. Discover has them. Citi has them, Wells Fargo has some, but I wouldn't really recommend them. And so all of those different banks are gonna have what are called balance transfer cards.
What is a balance transfer card? Well, let's talk about that. What it means is that you take a balance from a credit card order. Sometimes you can combine a couple different cards, and you take those balances and you roll it over to this card and it is going to have a 0% interest rate. I don't want it to have a 2% interest rate.
I don't want it to have a 4% interest rate. I want it to have a 0% interest rate. Okay? Now, when you roll this over with the 0% interest rate, what you're essentially doing is saying, okay. In the next 18 to 24 months, I am going to pay this off. Otherwise, you're gonna get what is called an interest bomb hitting you.
If you do not pay it off by that timeframe, a big old interest bomb is gonna hit you, and now you're back to square one once again. In fact, you're gonna be in a worse position. And so because of this, we wanna make sure that we have 0% interest on our balance. And so when we do that, that means we can pay this card off faster.
'cause we're not accruing interest every single month. We're not trying to pay off this big all interest bill. Instead we are moving it over to this zero balance card. Okay? It is very, very important to understand that you want a 0% interest rate. So typically when you transfer over to these cards, they're going to charge you a fee to do so.
So you're actually gonna add onto your balance, which sounds counterintuitive. It is not because the interest is going to cost you way more than what this balance transfer would cost. So typically it's like right around 500 bucks. Somewhere in that range is what they will typically charge for you to take your value and move it over there.
So this is where they make their money upfront is if you do pay it off, they make 500 bucks off of you and they're happy. But you're gonna be happy too because you're gonna be paying a lot less. In interest. And so looking for the best one out there is gonna be the first starting point number two. And step two here is we are gonna cut out the temptation.
I don't care if you have a credit card from 1995 that's still going on, I want you to take that credit card. I want you to cut it up. I don't care how many cards you have, all of them are gone. Every single one. So you need to take out the old scissors. If you don't have scissors, head on down to your local Walmart or Dollar Tree, pick yourself up a nice sharp pair of kitchen scissors, and we're gonna chop those cards up and we're gonna throw those cards in the trash.
We're gonna get rid of them for. Good, because right now our goal is fixed on one specific thing. We're gonna get this paid off. We're gonna do this together, and so we're gonna make sure that tactically we can get this down because the goal of this isn't to free up more spending room, so you can do this again instead.
The goal is to be debt free forever when it comes to this high interest debt. Okay, so that is step two is again, I want you to take out these credit cards. I want you to chop 'em up, put 'em in the shredder, B, B, B, get rid of 'em as fast as you possibly can. All right. Step three is we're gonna set up the monthly payment.
So we are gonna figure out, well, how much can I pay to ensure that I actually pay off this debt? Well, that's very easy math. If we wanna pay it off in 12 months or one year, we're gonna take the balance, which is 10,000. $500 and we're gonna divide that by 12 for 12 payments. Okay? So over that timeframe, because we have no interest, we don't have to worry about the interest right now, so it's an easy calculation.
So we are gonna pay $875 per month if we wanna pay off this $10,500 over the course of 12 months now. If you wanna pay it off in under a year, you're just gonna change the formula. If you wanna pay it off in six months, you're gonna divide 10,500, divide it by six if you wanna pay it off in. 14 months, then you're gonna divide 10,500 divided by 14.
It's a very simple, simple formula, but at a minimum, you're gonna need at least $700 per month if you opened a 15 month card. Because what I want you to realize here is that if you have a 15 month card, your very minimum that you have need to be paying off every month is that $700. So you don't get hit with an interest bomb.
Okay? And very, very important. If you are gonna do this strategy, you need to be confident that you can make these payments. Now, where are you gonna find this money? You may be saying to yourself, well, I'm not confident I can make these payments. I don't make enough money to make those payments. Well, let's talk about finding money.
We can find money within your budget and we can do it this in a way that allows you to get this debt paid off. Okay? So when you have high interest debt. I am not one to say this much. In fact, I want you spending more money on things that you love. But in this scenario, because we are in an emergency situation, the red lights are going off left and right.
We need to make sure that we are doing everything in our power to get this paid off. Fun times are gonna be reduced this year, and that's okay because for your future, you can have as much fun as you possibly can based on setting up these parameters. So $875 a month if you're in credit card debt, may sound like a big number.
But here's where the magic happens, and here's what I want you to understand. You may not have that much sitting around. We're gonna find this money in your budget, and we're gonna create cash flow within your budget. How are we gonna do that? One is we're gonna cut expenses. So you may have known that that is coming.
We're gonna talk about that here in a second. So cutting expenses is the first easy way to do this. We're gonna look for low hanging fruit first. So we're gonna find money by cutting expenses and cutting unused subscriptions. For example, so in Master Money Academy, we have members in there, and one of the big steps that we have on our Wealth Builders journey is learning how to reduce some of your expenses if you want to.
And so we teach people in a very detailed way how to find money. And when they go and find money, what they're looking to do is reduce the cost of some of this low hanging fruit. We just had somebody, for example, that went through their subscriptions. They canceled $175 a month of subscriptions in Master Money Academy.
Why? Because they knew this does not bring me value. So if you have Netflix, Amazon, Hulu, you also have cable tv, you also have Paramount, you have Peacock, you have all the things. My friends, it's time to reduce it down to only one per month. The one that you watch, everything else goes, okay? Because the reason for this is because all the rest of it is gonna go towards your debt.
That is the low hanging fruit. Number one. Any subscription that you're looking at, I don't care if you have Spotify and Apple Music, get rid of one. We need to make sure that we are attacking this debt as much as we possibly can. Two is you need to negotiate your bills. What do I mean by that? You can call up the internet company.
You can call up the cable company. You can call up the insurance companies, your car insurance, your house insurance, every insurance company that's out there, and you need to start negotiating your bills. And Master Money Academy. We teach you how to aggressively negotiate your bills, and so this is something that you really, really need to make sure that you are doing your calling up those companies, negotiating your bills down to save some extra money.
So canceling money on used subscriptions can save you about a hundred bucks. Starting to negotiate your bills can save you one to 400 bucks. Dining out is the third one. You need to reduce your dining out by at least 50%. If you're doing a lot, and if you're not really doing it much, then there may not be a lot of room here, but we need to cut it out as much as we possibly can.
Eating out is a luxury, and when you're in credit card debt, it is a luxury that you cannot afford. And typically I would not say this, but I want you to understand how impactful credit card debt is after your credit card debt is paid off and you have the money and the cash sitting in your bank account.
I want you to ball out when you dine out. I want you to dine out as much as you possibly can, head on down to your local steakhouse, and you just go get yourself a nice big old ribeye. But right now we're focused on one thing only and trying to pay this off. And then the last thing is I would just try to figure out other ways to cut back if you have them.
So if you know there are certain things that you spend too much money, you got too many Amazon packages just frivolously landing at your door, you walk into Target and spend a hundred dollars every single time. No, when you go shopping, you're getting tactical because everything else needs to go towards your debt.
The faster you pay this debt off, the more you can have some flexibility and some breathing room within your budget and you can start to pursue financial freedom. Okay, that's number one. Number two is we're gonna increase our income. How are we gonna do that? Well, first is typically, I am not a big proponent of like doing DoorDash or Instacart or Uber, but if you're on a fine line where you cannot have enough money to pay this off, then we need some debt jobs.
Debt jobs are jobs that you can do for a short period of time to pay off your debt, and so Instacart is great delivering groceries for Walmart, delivering groceries for Target, being able to do something where you get tipped and make extra money. If you can make 200 bucks extra a week, that means you have enough money every single month to pay down this payment, this $875.
So all we need is 220 bucks. Every single week in order to pay this off extra. And so picking up those side hustles, if you can do DoorDash, Uber Eats, Instacart, all those different things are really, really gonna help you. Also, if you have skills, like let's say for example, you're really good at coding or you have a great voice for voiceover, or you're really good at proofreading, or you are really great at math and you can tutor then utilizing tools like Upwork.
Or Fiverr, those are gonna be really beneficial for you. The third one, this is a big one for a lot of people, is upfront, I want you to find every single thing in your house that you do not use anymore, and I want you to sell it on either Facebook marketplace or OfferUp. Or eBay. eBay is the hidden gym that most people don't use right now, and I have sold a lot of things as of recent on eBay, they don't use anymore and it is a place where you can sell a lot more, even if you have polo shirts or old clothes or kids' clothes, you can sell it on eBay.
And you're gonna sell it, I promise you. And this is something where I don't care how much you get for it, you need to get something for it. Don't feel shame. Don't feel weird about this. I have no shame around this at all. I'll sell something for $5 on Facebook Marketplace, and you need to make sure that you're doing that because every extra dollar that you can collect can go towards your debt to get that debt paid off.
Even faster. And then lastly, you can do things like rent out. If you have a lot of tools or you have a lot of gear, or you have even a spare room, you can start to rent that out to get your debt paid down. If you are living in a two bedroom apartment and you're a single person, then rent out the other bedroom to a friend.
These are gonna be ways that you can increase your income so that they can go towards your debt payment. Again, remember, all of this is temporary, all of this is short term, but we gotta make sure that we are getting rid of this pants on fire Emergency. Next is we're gonna talk about windfalls and bonuses, tax refunds, or anything that comes in with like a bonus from work.
Throw it at your debt. Get rid of that debt as fast as possible. Once the debt's paid off, we can do the 50 50 rule, but right now we need to get rid of that debt. Also, any cash back or credit card rewards that you have already made based on having that credit card, put 'em towards that debt. Don't save 'em up for your next vacation.
They need to go towards that debt, paying down that debt. And then any extra income side, gig money, or anything else goes straight towards those payments so that you can get this paid off. Again, I told you we're getting tactical. We are laser focused on this, and this may not be fun, but it is necessary, and that is what happens when you go into debt, because when you dig yourself a hole, the biggest thing you need to do is stop digging and start filling back in that hole.
And so we're filling back in that hole right now. Next, we're gonna get to step five. Alright, step five is we're gonna lock in. We're gonna stay locked into this and we're gonna make sure we keep ourselves motivated. And so one is making sure that you make automatic payments each month so you never miss.
So these payments need to be automatic and if you don't have enough money in your account, you need to make it to where it's a point in time where I'm gonna make these automatic payments and I'm gonna find a way to get enough on my checking account to ensure I can make those payments. You're gonna pick up the extra jobs, maybe you're gonna pick up the extra shifts.
You're gonna go out and try to make enough money in order to make this extra payment. If you're someone who your entire life, you have not been making a lot of money, there's a lot of money out there to be made. And once you have your back against the wall like you do in this situation, that is when you're gonna be the most creative.
And so trying to find ways to do this is really, really important. Every extra dollar you find, again, throwing it at the balance, stay locked in. You're gonna get three or four months down the line and be like, this is exhausting. How am I gonna continue to do this over the course of the next year? It's so important to make sure you stay focused.
Otherwise all the work you are doing is for nothing. And if it's for nothing, you're gonna start at square one and at some point in time you're gonna have to pay this debt off. Remember the numbers again? $10,000 in credit card debt not paid off over the course of 10 years is $61,000. And in fact, let's find out, because some people take 20 years to pay it off.
Let's find. How much it would cost over the course of 20 years. $10,000 on a credit card over the course of 20 years with a 20% interest rate is about $383,000. You can't afford not to do this, and if you really, really wanna know about 30 years, this is why people never get out of debt because they're making these payments over and over and over again with this high interest status.
2.2 million for 30 years.
My friends, it is so important to stay locked in. I cannot stress this enough. Okay, so next thing is the interest bomb will be hitting if you do not pay off the 0% a PR by the expiration. And so you need to make sure you were watching this deadline because this is a tactic where if you get yourself into a situation, this is why we want you to have that one month of emergency fund set up.
Because if you get yourself in a situation where you can have issues coming up. We need to make sure that we have a plan to pay this off. And so if that happens, you may need to roll your remaining balance into another balance transfer card if you can. That is tactic number one, is if you get close enough, you need to try to roll it into another transfer card if you're eligible, but you need to find out first if you are eligible, and then if not, then you're gonna go from there.
The bottom line though. Is getting this $10,000 gone or whatever the number is, if it's 15, if it's 20, if it's seven, if it's three, if it's five, we need to get this gone as fast as we possibly can so that we can start to pursue financial independence, and that is my ultimate goal for every single one of you is we want you to achieve financial freedom and we want you to do it in a way where it's fast, it is quick, so that you can spend more time, energy.
Money doing the things that you love and that my friends, is the ultimate goal of this podcast and everything that we talked about. So this is a more tactical episode. If you love tactical stuff, make sure you get ready for Master Money Academy, uh, which is for launching for everybody else in October.
Our beta group is absolutely amazing. They have been so wonderful thus far. Uh, so make sure you get ready for that because we have a lot of tactical lessons and things that we are doing every single week talking through this in Master Money Academy. So it's the ultimate place to get your financial transformation, uh, and that is something I want each and every single one of you to be looking out for.
So again, thank you so much for being here. Uh, thank you so much for investing your time and energy in yourself. If you are gonna follow this plan, I wanna hear about it. I want you to let me know. We will get the ball rolling on this and really, really excited for each and every single one of you to work on paying down this $10,000 in credit card debt.
Again, thank you so much for being here, and we will see you on the next episode.
