Challenges · Life's Struggles · Thoughts · Uncategorized

How I am Working on My Debt

I wrote a piece on getting out of debt for a facebook group and was actually featured in another Blog!!! So I decided to share it in my own blog.  It’s not what I normally write about, but hey, maybe it’s time for something a little different!!  ENJOY!!!

This is the link to the blog, DEBT FREE JOURNEY

So, I’ve been on this get out of debt journey for about 3 years now. I started off with 40-50k in debt. This included, student loans, car payments, hospital bills, credit cards (to pay for books and what not and more hospital bills smh), ect. As of today I have about 17k left in debt total. This debt was reduced on low income jobs and a lot of hard work and sacrifice!!! I just want to encourage everyone when it comes to this because it feels sooooooo good when I can wipe something off of my credit and put more into my pockets.

My goal this year is to be rid of another 6k (approximately). Again, this is on a not so high income, with strategic planning, and a lot of hard work. Normally I go ham and pay everything off at once or as much as I can leaving me with barely a dollar to my name. This year, I want to do something different. I’ve made great strides to be rid of my debt and yes my pockets will be tight again for a little while, BUT I decided to start treating myself!!!

My mistake in the past was never enjoying life, so to anyone who is trying to get rid of debt; yes be hard on yourself but always always treat yourself! It can be movies, nails, hair, shoes, clothes, whatever once a month. These are some of the things I did to get rid of some debt:

1. GET OUT OF DENIAL!
Accept the fact that you do have debt and that you might have to do a little work to get rid of it.

Accept the fact that you do have debt and that you might have to do a little work to get rid of it.

2. PRAY
Some of my debt was actually taken off of my credit before the 7 years was up. If you have a debt in collections for about 7 years then they automatically take it off after the 7 years is up. I promise ya’ll it was a miracle because I KNOW it hasn’t been 7 years.)

3. TITHE
Always give God what is due to Him first!!! Anytime I did not tithe, I promise y’all my money was looking funny. Then, there are times I tithed out of obedience. But when I looked back at my bills vs my income, I realized that I wasn’t suppose to have enough to pay my bills, let alone eat.

4. MANAGE YOUR MONEY
I’m honestly still working on this. Don’t go out to eat every night. GET IN THE KITCHEN!! Do your own hair/nails sometimes. Know when to walk away from those shoes, shirt, dress, dessert, etc. Prioritize.

5. PLAN
I have to sit down and calculate how much my bills are, how much my debt payments are, and how much I need to LIVE (toiletries, food, gas, etc). I also focused on one bill at a time. I have goals to pay off one debt at a time so that I’m not overwhelmed. I pay the minimum for the other bills while I over pay for the bill I’m focused on at the moment.

6. SAVE
Don’t get so caught up in your debt that you don’t have anything in your savings account. I made that mistake and was looking like waaaaaahhhh! But now I know, even if it’s just 25, 10, or 5 a month. Do what you can!

7. BE ENCOURAGED
It can be daunting to look at debt, but there is always a way! Take your time. It will take some discipline, but you got it! Don’t forget to treat yourself, especially when you can put that BIG X on each debt. For every debt removed treat yourself with something extra special.

It can be daunting to look at debt, but there is always a way! Take your time.

I really hope this helps someone! It’s not easy getting out of debt guys but it’s possible!!

I’m also open to tips and advice!!

I might be couponing soon to save some money. Not extreme, but enough to provide some leeway in my pockets as I continue this debt free journey!

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