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A goal or two.

Q A I'm a college student seeking advice on how to get out of credit card debt. My debt total is $2,000. I make $450 monthly. Should I consider debt consolidation? Also, I am planning on starting my own Internet Care in New York City. What steps I should take?

--Via the Internet

Although it may seem like a lot, $2,000 is not a lot of debt. If you can eke out a few extra bucks a month, say $50, then try putting that amount toward your credit card debt. That way, you could be out of debt in a little over three years. Also, ask your parents to match the amount you put toward the bill. For example, if you're paying $50, ask them to pay $50 as well.

Try to find a summer job or internship that pays more and apply that additional income to your debt. Debt consolidation would not be a good idea because your situation is not severe. To stay on track, don't spend anymore on your credit card or the debt will rise.

To get started on your future goal, do some research to see if your idea is viable. Log on to www.internet-cafeguide.com, which offers a quick and easy guide on the topic. Also, visit The Workshop in Business Opportunities (www.wibo.org). WlBO offers a 16-week course that helps you build your business plan. Also, apply for our Financial Fitness Contest at www.blackenterprise .com/wealth/wbk.asp for a chance to win $2,000 and consultation with a financial advisor.

Mail your consumer empowerment questions to Ask Your Advocate, BLACK ENTERPRISE, 130 Fifth Ave., New York, NY 10011 or send an e-mail to sykest@blackenterprise.com.
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Title Annotation:credit card debt and Internet Care management
Author:Sykes, Tanisha A.
Publication:Black Enterprise
Article Type:Brief article
Geographic Code:1USA
Date:Sep 1, 2006
Words:289
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