$300k in debt (no mortgage). $297,677.49 to be exact.
$215k law school debt, $40k graduate school debt, $25k credit cards, $11k car loan, and a personal loan.
After 5 years of deep denial- I think I’ve finally accepted how badly we fucked up. I feel like I’ve gone through the stages of grief multiple times this year.
We paid for very expensive degrees that didn’t need to be. We racked up a shit ton of credit card debt by spending money like entitled a**holes and not using a budget. I wish I could go back in time, slap 23 year old me (and my husband) and ask, repeatedly- what the hell are you doing??
We would go out to bars and dinners every weekend with friends. insert Discover card. We would regularly order takeout. insert Amex card. We went on yearly vacations. insert Jet Blue card. We financed furniture???? Not to mention we walked right into the “prestige” private school bullshit.
We ate that shit up. And for what? To impress people? To prove that we’re worth something? All the above? It’s so normalized to be in debt as a millennial.
Everyone had credit cards, everyone was going out, everyone had student loans. We were super normal! You’re only young once- amiright?!
I found Dave last year, when I was hitting rock bottom. My debit card was getting declined at the gas station and the grocery store regularly.
After listening to The Ramsey Show for a couple weeks, I realized how screwed we were. I remember the first time he talked about the borrower being a slave to the lender.
That’s exactly how I felt. I couldn’t breathe. I had a mental breakdown. I haven’t really been able to relax since. My husband and I spent all last year fighting about money and almost got divorced.
We’re on BS2 right now. We should bring in around $170k this year before side gigs. We have paid off $12k since June. We started FPU last week. We’re throwing everything at the debt. I’m working my ass off. Husband is working 65+ hrs a week and donating plasma.
We dropped more than half of our “friends.” It’s a humbling experience to say the least. My mother in law makes us dinners a couple days a week to help out.
Family and friends ask why we’re not having kids or buying a house yet. The whole situation is embarrassing, but we deserve it.
I don’t blame anyone but myself. I’m not expecting anyone to “forgive” or payoff our dumpster fire. We were extremely stupid and entitled, but we need to get out of this ourselves. I just need prayers that we can make it out of this. We will. Hopefully better than who we were before.
Just trying to “embrace the suck” and keep up the motivation.