So I’m 28M and recently got a personal loan for 35k at 18.24% interest to cover my 38k CC debt from being unemployed and I’ll and some mistakes (got left at the alter by my fiancé). My CC debt was as follows:

Amex: 10,600 @ 29.99% Citi bank: 8,000 @ 26.99% Costco citi: 7,800 @ 24.25% Venmo CC: 4,400 @ 29.99% Us bank: 7,400 @ 29.99%

I had 4K in my bank account from taking the summer off as PTO and working a bunch of summer camps.

Anyways, I spoke with my dad about it and he basically told me I’m a fucking idiot and would never get out of debt. But the way I see it is I secured a loan which payment was the minimum payments of all my CCs combined at a lower interest rate.

Forget the fact that I have about 1k a month additional I can spend on my debt I feel like this wasn’t a bad move.

My finances: I own my home, my two roommates cover my mortgage, property tax, pmi, and hoa. I pay the following in expenses: -$400 a month in all utilities -$400 a month car payment/maintence/insurance. -$200 a month in health insurance -$400 a month in food (all groceries and all organic). Not sure I want to try to bring this down as I’m from Eastern Europe and have already gotten over lifetimes supply of radiation,family history of cancer, doctors recommendation. - $1270 a month in the personal Loan (previously minimum payments for CCs) -$160-$200 a month in fuel costs depending if I have to go into the office or not. -$40 a month in haircuts -$45 a month for the gym membership Total expenses: ~ $3,000 a month (I like to round up on my expenses rather than rounding down). Income post tax: $1,172 a week (up until 3 weeks ago it was $800 a month).

Did I make a mistake taking the personal Loan?