I am in debt and I want out.
I’m carrying some student loan debt as well as credit card debts from investments I made in my business and travel expenses (okay… and a few impulse purchases).
The day I am debt free will be a glorious one, and I can’t wait to get there. The challenge is that I don’t have a solid plan on how to do that yet. I know it’s possible (as I’ve read so many stories and watched so many YouTube videos from people who have shed the debt), so I am really approaching this journey back into the black with curiosity and a sense of adventure.
I’ll level with ya… it hasn’t always been this way. I used to be desperately ashamed of debt. I wouldn’t talk about it and definitely wouldn’t share how much I owed.
So in an attempt to take out the shame and literally just own it, my June challenge was to be completely transparent with my financials with my sisters. I decided to give them access to my Mint account which currently links up all of my finances.
This includes how much money I make to how much interest I accumulate each month.
It felt incredibly liberating to share this. Not all of my sisters took a look, however, I’m going to keep it available to them to check out at any time. My youngest sister decided to take a look right before my eyes. I felt a bit nervous when she said, ‘Let me check it out now’ however, she approached it with a compassion and understanding and ‘It’s not that bad.’
My intention of financial transparency, also lead me to share with my boyfriend my desire to get out of debt. As he is insanely good at being thrifty (and he’s debt free), he is fully supportive of me going for it. In fact, it’ll probably make him feel better that we don’t spend as much eating out and cook more at home 🙂 I haven’t yet shared with him exactly how much I owe, though perhaps that’s a challenge for another month.
My July challenge is going to be an ambitious one. I want to save half of what I make and put it towards debt. With my rent taking up a significant chunk of cash, this is going to be a challenge worth taking on.
Thank you for reading and I wish you an awesome month!