I was making about $14,000 a year when I became pregnant with my daughter… I was nowhere near my family, I didn’t even have a car or a driver’s license, and within a few months later, I didn’t have a fiancé either. So how did I go from that point to being a lawyer earning a six-figure salary? Well…
Tons of so-called personal finance “gurus” advocate never going into debt, but for most people that’s simply not an option (and that’s ok).
It takes an incredible amount of care to make decisions that affect you — decisions only you can make. Whether big or small, when you’re reaching for big financial goals, every decision matters.
When people discuss debt, it’s usually referenced as some sort of personal failing. Like, why can’t you pay off your debt? It’s easy. Make money, pay off your debt. Duh.
The first thing we had to do, once I added up all the debt, once I had my UGH-Sick-and-Tired Moment, we had to get real with our spending. So, I needed to see where exactly all this money had gone. We don’t live in the lap of luxury. Yeah, we have a flat screen television. The couch behind me? Bought that secondhand. Fancy car in the driveway? Nah, at the time we were driving an ’07 Honda Odyssey minivan. We really didn’t have anything to show for the almost-$60,000 in debt that we in fact had.
Starting on the right path as a young family is important. Many are getting first jobs that pay decent money, finding partners, and maybe …
Even though I was making a decent salary for the first time in my life I decided to keep living like a broke student for as long as possible.
I don’t have the greatest self-control in the world. It’s a problem. But, it’s something I know about myself, so I can do something about it.
Through Bravely, Kara has created a community that gives self-identified women the financial tools needed to bridge the gap between their dreams and realities.
When you sit down and look at the numbers, it can be shocking to see just how much homeownership costs you over the years.
I’m not begrudging anyone their beverage of choice, but am suggesting we could all be more mindful when deciding what to drink.
Having a paid off mortgage could make things much less stressful if you’re in full on crisis mode. You might even think of paying of your mortgage as part of your emergency action plan.
I prefer the hybrid method of the debt bonfire, because I want to utilize every available method and take advantage of the best aspects of each one. If you find yourself making exceptions to the debt snowball or debt avalanche method, maybe it’s time to admit that you should be creating your own plan too!
Now that I’m debt free, I wonder at the complacency with which I approached my debt. Why did it take me so long to want to get out from under it?
Those were the kind of decisions that I then started to make as I realized that this debt is gonna be gone: what now, where do I go with my life after debt, what does that look like for me? And for me, it was really figuring out what success looks like for me, what things that I value, and why am I doing all of this? Now that the debt is paid off, what now?