If you’re reading this blog, then you are probably in the same situation as me. You’ve had enough with debt and are ready to make the commitment to get control of your debt and life.
I will be the first to admit that I have made some bad decisions in life when it comes to finances. From purchasing four cars during my 4 ½ years at college, borrowing close to 40K of student loan debt, to maxing out 10K worth of credit card debt – I spent a significant amount of money with nothing to show for it today. I grew up in an environment where material things were valued over experiences. When I turned 18, I got my hands on what seemed like unlimited cash, just by attending college. Having no prior experience on how to control or value money, I did what my peers around me did. I spent cash on material things to impress others around me. While at the time it seemed like life was great, and I could buy myself anything I wanted, I ignored that fact that I was making things a lot harder for my future self. In reality, I was piling up an enormous amount of debt that would stick with me for a quarter century at a higher cost than I had borrowed it.
Here I am today, now educated on the topic of money, and I want to share my experiences with you so you can be motivated to do the same. By all means, I’m nowhere near perfect, nor do I have it all figured. But I can tell you this – I don’t want this debt burden clouding over my life for the next 25 years by paying the minimum payment.
This year I have decided after several years of procrastination that I would get serious about paying off my debt. I have a lot of goals in life and eliminating my debt is a critical step to reaching those goals. Throughout this blog, I will share more details about by past experiences so that I encourage you to prevent these mistakes before they happen. I will also describe my current experiences and the steps I am taking to cut expenses, increase income, and pay off debt.
Please feel free to comment below and share your experiences as well!