Four minutes ago, I made one last payment on a looming loan from six years ago. I went into overdraft to pay the bloody thing off ($500+) but lemme tell you…. how SWEET does it feel to get the bloody thing paid off. Plus, paying off the loan from my old car this week? That was nice too.
But, I still have A LOT of consumer debt and education debt to pay off.
I’m going to guess I have about $70 000 in debt.
Lucky me.
It’s overwhelming and I can’t believe I’ve paid already, large chunks of it off.
And what do I have to show for it?
Not much.
It’s pretty sad.
In the car the other day, my mom was like, “I made $17 000 last year and what do I have to show for it?”
Fortunately, she has no debt. But she doesn’t have any money either. She works hard to break even. She buys stuff she doesn’t need (think kitsch!)…
But, she’s at that point where she WANTS to save for her future. Buy RRSPs… stuff like that.
What do I have?
Not a whole lot. I’ve got about $22 000 in retirement socked away. I’ve got a crapload of education that I have no way of paying off.
This army stuff HAS to pull through. I *WANT* this debt paid off within 3 years. That’s my goal. In three years? I want to be completely debt-free.
How nice would that be?
And I want my next vehicle? I want to buy it cash upfront.
And, I vow to NEVER use credit again.
That’s my goal.
To make things worse? Four years ago, I had exactly 0$ in credit card debt. Now? It’s almost $40 000. That includes two years of school… and four years of not having a good job or any job or… whatever. You know. Bad choices.
I’m taking responsibility TODAY… from this point forward… to NOT buy a single more thing on credit.
Never again!!! If I don’t have the cash? I don’t buy it. The only thing I WILL dip into credit for, is if I need to make a car or insurance payment. Those are my only two “outgoing” things right now (plus my phone but I can hold off on those payments sometimes). And, if I do have to dip into the credit for it? I will make sure that the payment that month on the credit cards, accounts for EXTRA $$ to make up for it. I won’t go any more into debt, EVER.
Got that?
EVER.
Amen.