Debt Update March 2018

I knew I had student loans before I moved out of free housing with my parents to live on my own. While living on my own, I racked up my credit cards because I qualified for them :D That was very bad, so don't be like me.

After having student loans and credit card balances for over three years, I decided that this year (2018) was the year to tackle it as mentioned in my previous blog.

It's been about three months in and I've been doing really good. I paid off two student loans so far and going on the third one in March (what's up with the threes?). With my couponing math skills, paying debt is just a number's game. How much do I make and how much am I going to pay my debt? It sounds so easy, but trust me, it sucks the life out of you and you have to hustle hard, but at the same time, it'll all be worth it. Just keep your eye at the light of the tunnel. That freedom.

I am better at self-discipline this time around paying off my balances because not only do I already have the necessities in life, but also teaching myself to get rid of the habit of spending. With couponing, I have not spent much on clothing and food, which made up a majority of my spending habits. I can coupon clothes and food for less than $1 and free if I wanted to.

I ignored my debt for the longest time because I constantly wanted things and told myself it was OK TO HAVE DEBT. But it is not at all!! My 2011 Camry is going to be paid off this November and I am so excited. With that timeline, I am so motivated to pay off everything else off as well. I also don't want to go into my 30's with any debt either (three again?). Big things happen at 30, the #1 answer on Family Feud of the most expensive age in life: house, wedding, kids, and previous debt. It can all be done, but I am going to spread out the expenses. That isn't a choice for some; they are stuck. For me, it's important that I am in control of my life though.

Another motivation to pay off debt is to get a bigger debt: mortgage loan! lol. With my debt paid off, I will be able to get a $900+/month mortgage by myself. The thing with a mortgage is paying interests ($1k+/year guaranteed), but wait, I'm not paying it! I'm renting it :D. I could've been here three years ago, but oh well, I am going to get this all done now instead.

If you haven't reached this point in your life and you're still in your spending phase, it's ok. You can do it in your twenties all you want, but when you're close to 30, you will realize it, so I suggest you take the lesson out of this post to NOT TAKE ON ANY UNNECESSARY DEBT and also PAY OFF ANY DEBT you have, even if it's just $20 or $50 extra a week.

I have no idea how it all really happens, but it's a mix of a normal 30 hr job, 2 part-time, reselling, and side jobs on the weekends. March/April is extra special because I hope I'll get back at least $1.5k from my refund. I made so much more money three years ago, so I spent more and paid so much less for my debut. But there's a saying by J.K. Rowling:

'Rock bottom became the solid foundation on which I rebuilt my life.'

I abused my "privilege" salary and now I have to redeem myself with my average salary. It's ok. It sucks, but I caused it to myself, and I will also undo it myself.

Thank you for reading. I hope my financial journey motivates you to take care of yours. You can follow me here:
https://werkhang.tumblr.com/
https://www.instagram.com/werkhang/