When you’ve reached the breaking point and you’re filled with frustration about your financial situation, it begins to weigh you down and feel as if you HAVE to find a solution. I sit here a month and a half after I made the decision to correct all of my wrongs when it came to mismanaging my finances, living above my means and focusing more on having the “perfect” credit score than the idea of not living in debt.
At this point, I had 10 months remaining until I became eligible for the Public Service Loan Forgiveness Program. I was thrilled to have my 30 plus thousand dollars in student loans forgiven. I had multiple conversations with colleagues and friends who said they weren’t eligible because of the type of loan they had, which prompted me to contact my loan servicer to verify my eligibility. During my call the realization struck that MY LOANS WERE NOT ELIGIBLE! I was distraught. I literally felt sick to my stomach. I especially felt nauseated when the customer service rep told me that I had paid over $19,o00 in interest. My payments only made a $4,000 dent in my balance. He then explained if I remained on my current payment plan, I would be finished in 10 years. This would also mean I will pay over $40,000 in interest on a less than $40,000 loan. This was not acceptable to me!
THIS WAS MY ENOUGH IS ENOUGH MOMENT!
I had to get my act together one way or another and this called for drastic measures. This is when I decided to come up with an extremely aggressive plan to pay off my debt as quickly as possible.
I am one month in and it has been challenging, but I have become passionate about being on this journey.
I changed my screensaver on my phone to say,
“If you will live like no one else, later you can live like no one else.” ~Dave Ramsey
Thus my journey has begun.