I can’t help but see some of these seemingly “perfect” people who have $50,000 in savings and $100,000 in their Roth IRA by the time they are 25 and wonder how? How did they learn and how did they have so much self-control? I never imagined I would get myself $80,000 in debt by the time I was 21 but somehow it happened. It’s almost as one day I was 18, getting my first credit card, and then the next day I’m 21 and I woke up with a huge pile of debt attached at my hip, almost like a growth. It just keeps getting bigger and bigger. It’s like I’m stuck in a nightmare stuck on Groundhog Day.
Even though I’m in this kind of situation, I still feel so grateful. It sounds crazy but had I not been in this situation, I may not have started this blog. I may not have learned one of the greatest lessons I’ve ever learned. Being so far into debt has taught me so much self-control and things about myself that I never knew. I honestly look forward to the journey that lays ahead of me. And once this debt is paid off, I will be able to look back on the accomplishment and use it as fuel to push myself on to my next journey.
As I continue to read other blogger’s journeys, I realize that people break down every category of their debt. For example, instead of jumbling their credit card debt all into one total, they show you exactly how much they owe for each credit card. Just this month I totaled every debt my fiancé and I have and I’m going to start posting either weekly or bi-weekly balance sheets. I was inspired by some Instagrams I follow that post daily spending. I will definitely start blogging about our spending but we aren’t doing enough spending to do daily reports. However, here are our balance sheets for May 5th and May 17th, 2017.
May 5, 2017 – 81,605.13
May 16, 2017 – 81,345.14
DIFFERENCE – (-259.99)
Over the past two weeks, we have paid off a couple hundred dollars in debt. I’ve never made balance sheets before so I have no idea what a full month of payments will do to my balances. I hate to say it but my next step in my debt payoff is figuring out what my interest rates are (ugh, so horrible, I know). At this point in time, we are just working on catching up on our monthly payments. It’s really difficult to figure out what our actual monthly incoming and outgoing because our income varies slightly every week and our outgoing for some bills depend on our account balance, and at this point, we have a couple bills with late fees, and I’m not even sure what the normal monthly payment is. (I know, it has gotten pretty bad).
I will update again at the end of the month – hopefully with a smaller total!
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