A little over a year ago, I posted this, about how I finally started to take budgeting seriously and stop living above my means. At that point, I had:
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$2,000 in credit card debt
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$7,000 car loan
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$32,000 in student loans
I'm proud to say that I have no credit card debt and today, I just made the final payment on my car. Now I "just" have $27,000 in student loan debt, that will hopefully be paid off by 2020. I'm not even halfway done, and I know that there have been much better success stories than mine on this subreddit. I'm only posting this as a follow-up to my post last year and to remind everyone that paying off your debit is absolutely worth it.
Some things that helped me along the way:
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Got a raise from 31k to 38k in September of 2016
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Employer pays $210/month on my student loans
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Started to aggressively save (25% of my take home pay) and work side jobs
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Used credit cards and bank account sign ups responsibly to maximize cash back
I know that I've been very lucky in many ways. I don't make a lot of money, but I only pay $375 a month in rent and I have a very stable job. The point of this isn't to brag, but to let other people know that it IS possible to pay off debt quickly without making a lot of money. This subreddit has been a huge help to me, so I can't thank everyone here enough. I hope this helps someone out there who may be struggling with the idea of paying down their debts out of college. You can do it!
Submitted April 05, 2017 at 12:13PM by ManusBaldSpot http://ift.tt/2oCgJOE
