Writing this is a huge swallowing of my pride so bear with me please.
Currently working full time, annual net of around $40k. For the past year or so I've been developing a tech platform, and this past week I began funding negotiations. The initial valuation and projection is very promising, but I am terrified.
I may be the archenemy of /r/personalfiance. Plain and simple, I am terrible with money. I was faced with huge debt and a small salary when I graduated college in 2010, and it really screwed up my financial accountability and overall maturity. I've had this poisonous thought that I'd just scrape by until making it big. Now that it's a possibility, I've never been more ashamed of my attitude towards money, and I want to start adjusting immediately. Much of that has nothing to do with this sub, cutting unnecessary spending, eating out, etc. I want to translate that money saved into improving my credit. If this deal does work out, it will be several months or longer before any significant personal income. I want to plan as if this deal isn't happening for my own fortitude.
I have 2 student loans, one federal and one Sallie Mae, totaling around $45k. Beyond that is around $4000 in credit card debt, and several past due/old accounts I never settled probably totaling $3-4k. Credit score is 530. My first thought is getting a credit counselor, but wanted your opinion on where to start. I thought maybe to start with the oldest loans, but I've read stories here of where it's wiser to let the debt 'fall off' instead of acknowledging it so late. Lots of questions and I know this isn't my specialty..yet.
This is where I am right now. I appreciate any and all attempts to help whip my ass into financial maturity. Thank you PF!
Submitted April 10, 2017 at 06:26PM by finances111121 http://ift.tt/2osztPX
