The Weekly Win: Debt
This week’s weekly win is one that I have been working on for quite some time. Digging myself out of credit card debt. Let’s be honest, most people have loads of credit card debt. Mine isn’t THAT bad, but it is still enough to mess with my credit score. I am one of those people that act like I will pay off the things I buy with a credit card on the next payment, but I actually just pay the minimum. That is where I went wrong for the longest time. Instead of fixing the problem, I ignored it for years. Heck, sometimes I still ignore it. BUT I am getting better and this is why it is a weekly win.
This week I was able to get my student loans under control. Literally even typing that sentence made me excited. STUDENT LOANS ARE THE WORST. It is so easy to ignore them. Then you get called, emailed, and even have letters sent in the mail. You can ignore them all you want, but they will always find you. I finally was able to get myself out of the red. Which basically means I was able to get my late payments off of my account, and make a payment plan that will help increase my credit score.
The next thing I did was figure out my credit cards. Store credit cards can suck the life out of you and your credit score. The interest is SO high and they always increase the balance so that you literally have to cut your card up to keep you from maxing it out. I maxed out two store credit cards and I am not paying for my actions. I was able to convince them to put me on a payment plan that allowed me to pay a small amount for a year and not collect interest. How did I do this you ask? I cried. I cried like a little brat until I got what I wanted-- which in this case was no interest fees and a payment of $20 a month. Now, I know I should be paying more if I really want to dig myself out of the hole, but I feel like what I am paying is better than nothing, which is what it was a few months ago.
I know that I can’t be the only person in the world that does this or is in this position. It is difficult to come out of college with no job or money. The only resort is basically credit cards. Then the student loans begin to kick in, and before you know it you are drowning in a pile of debt. I can happily say that I have began to conquer what seemed to be impossible. It takes time, but even the smallest of strides make an impact and are better than ignoring your problems.
If anyone has tips on how to overcome debt or falling into the crippling clasp of credit cards, please share! I think it is important for people to be able to talk about their issues with finances/debt. It is important to learn from your mistakes. Others also might have better advice than just ignoring your problems--which is basically the advice I was giving myself. So cheers to adulting and getting these credit cards and student loans under control!