While I am getting this blog on a roll, I have spent a lot of time thinking of all the content. Debt? Relationships? Career? Dog Life? Home Life? SO. MANY. OPTIONS. Today, we tackle debt.
Throughout my life I lived a “normal” life (what is normal anyways?!). My parents were middle class and I worked for things that I wanted. When I say “work” I mean, I did chores around the house and my parents bought me things as we went out shopping.
Flash forward to my twenties….
I spent my twenties working in restaurants as a server and eventually became a bartender. I was lucky enough that my parents paid for my undergraduate degree, so I left college debt free! HA HA HA HA jusssttt kiddingggg… I spent A LOT of money. Mainly on random things. So much food. I bought things for my house. I bought random school supplies for students I didn’t have yet, I bought pretty much ANYTHING on sale.
Also, I HAD to keep up with the people on instagram. They were all going on these sweet vacation spots. Looking skinny. Wearing awesome clothes. Make-up always done. I bought so many *things* to make myself feel better.
It wasn’t until I hit 26 when I realized how much debt I had gotten myself into. I was almost just over 30K in debt. Remember my parents had paid for my degree, minus books and supplies.
I tried every trick in the book. Consolidation loans. Opening new cards to lower the interest rates. Seriously considered a line of equity on my home. The problem was, I wasn’t ready to change.
I kept using the cards, kept buying and telling myself it was fine because it was on sale. NBD ya’ll! Wrong-o. I finally decided to get real about my situation and began sitting down to tackle it. I heard about Dave Ramsey and did a simple search on google. The information poured in. I realized how I was doing everything wrong. I kept paying the minimums on each card and was thought “no, it will totally work out.” WRONG-O I learned I needed to begin my snowball.
*Disclaimer: I don’t follow Dave’s 7 baby steps to a T, buttttt I’m doing what I can okay?!
Dave teaches that first you save $1,000 as an emergency fund and then start throwing money at your smallest debt. Seems easy, right? Well it’s not, and it sucks. I began to realize how much money I actually made, and where it went. Target, gym memberships, subscriptions on my iPhone, groceries, car needs, mortgage, food, and daily coffee.
*Disclaimer: I still haven’t given up daily coffee. DOING WHAT I CAN!
Flash forward to self proclaimed: Debt free 2018
I wasn’t. Wasn’t anywhere near debt free 2018. I remember putting every single Christmas present on my credit cards. I had maxed out nearly three of them.
But 2019 my ~*~My YeAr~*~ and so far it has been! I began throwing almost $1,000 towards my debt. No more random spending. Cancelled my subscriptions that I didn’t need. Target and I are more like acquaintances instead of besties. I spend A LOT of time at home. I write down every little bill, plan for birthdays and holidays.
I still have a long way to go but am on my way!
What are your experiences with debt? How are you working to get out of it? Do you feel the pressure to spend money?