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blitz121 10-26-2018 03:26 PM

Starting to see the light at the end of the tunnel(A debt story)
 
Sorry for the #humblebrag here but I am trying to pick myself up on this one.

I'm 27 years old now and for the last 5 years I have carried about 12k in CC debt. Just got married last year and my wife knew about it ahead of time got me to finally open my eyes to the massive amount of high interest debt I was carrying. I started looking at that CC debt as the "Mount Everest" of my 20s.

Right when I got out of college I walked into my internship and I guess my bosses liked me because it turned into a salaried position. This caused me to think I was "super hot ****" and basically bought a used "sports car" (Ford Focus ST) because I never had anything remotely fast and my beater I thought was on its last leg.

I had a plan:
1. Stop using the CC unless I had a serious emergency. I don't even carry it anymore.
2. Hammer into my mind that I don't need extravagant things in my life. Newer markers, real steel, friends(JK.)
3. Most of my "extra" money would go straight to the CC debt.
4. Started visualizing every month I had a random person walking up to me kicking me in the shin and taking whatever was on interest out of my wallet then leaving.

It's been about a year since I started really tackling my debt and just this month broke the 4K barrier! My car has a 22 more payments until it is complete but snowballing my CC payments into the car I should be able to hammer it out pretty quick as well!

It has been a super hard experience on me, because I had a mentality of "I see it, I need it" or my wife's most hates statement "I got a good deal." So far though I am making it! Maybe by January I can finally descend "Mount Everest" and start a healthier mental and financial life!

Once again sorry for the humble brag but realizing I got this far has really been a bit of an accomplishment for me.

superman 10-26-2018 03:52 PM

stay positive. keep it on your mind and stay diligent. keeping the credit card at home is a good decision. Ultimately you have to be able to stop your self from going crazy with the purchases. Sometimes people have issues with cards in general. I know a few people that only deal with cash for weekly expenses and put other things on a card to better manage day to day expenses.

blitz121 10-30-2018 02:00 PM

Its been a challenge but its getting there. I didn't really use it for crazy purchases like markers/guns/ammo. But for travel/food/ anything on the road. I blew it up, made small payments back. Then realized that every month interest was up in the 150-200 dollar range I finally started hammering down on the dang thing. I think I could handle it after I finish paying this one off but we will see...

punkncat 10-30-2018 04:32 PM

CC debt can be a good/bad thing. On one hand if you are focused enough to stay on track, keep within limits, and pay it off every month it is an exceptional way to help build good credit. The inverse is that you go crazy like it's money you really have and get yourself in a bind like this. Most people end up making minimum payments and slowly sinking deeper in debt slavery, which is really what they want.

I don't own a CC. I had a very strong life lesson about this from my father as a youth.

Painthappy 10-30-2018 07:56 PM

That's great news!! Tackling debt is a marathon, not a sprint. It takes a lot of determination, it's a hard road, but the finish will be more rewarding when you cross it.

blitz121 01-03-2019 06:35 PM

Just an Update, after this payment I broke 3k. I'm getting closer!

ClarkGryphyn 01-03-2019 07:08 PM

That's awesome, and I am happy for you.

Very little in my life has felt as good as the day I got free of student loan, car, and credit debt. The world is such a brighter place without that monkey on your back.

superman 01-03-2019 07:15 PM

Quote:

Originally Posted by ClarkGryphyn (Post 3547599)
That's awesome, and I am happy for you.



Very little in my life has felt as good as the day I got free of student loan, car, and credit debt. The world is such a brighter place without that monkey on your back.



I canít wait for that. Student loan still has plenty to pay off. Truck is done. No credit card debt. Iím sure I could pay it off sooner but for now slow and steady will win the race.

blitz121 01-04-2019 12:49 PM

Quote:

Originally Posted by superman (Post 3547603)
I canít wait for that. Student loan still has plenty to pay off. Truck is done. No credit card debt. Iím sure I could pay it off sooner but for now slow and steady will win the race.

Credit card will get finished then car/ student loans. Slowly knocking it down.

blitz121 09-18-2019 11:00 AM

Just an update(since I forgot to) my credit card was paid off around April then started throwing money at my car loan. should have the car paid off around February then student loans paid off by at least 2021. Its been a long road but feels good to get everything off my plate.


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