ADULTING: Admitting Your DEBT

Good Morning Babes!

Today, I will be talking about what no one wants to admit, DEBT. Okay, I know, it’s a little early but I am an early riser and like to get my day going…a few cups of coffee helps too.

I’m just going to go ahead and get into the dreadful topic of DEBT, so grab some coffee, tea, or whatever you like and let’s conquer this Adulating thing together!

First thing first, I want to share a little bit about my debt story.

I started my debt building as soon as I decided to leave my parent’s house in California and move across the country on my own. I know, my bad, but I’m someone who learns from experiences. Hopefully, I will help you out before you go this route because let me tell you, experiences when you have no money, isn’t the best outcome.

So, this brings me to moving across the country again. I saved about $2,000 for the move. My parents both told me that I needed $5,000 to make sure I can cover my first couple months of living on my own. I didn’t listen of course. I thought I could do it. I did make it to the East Coast because gas was only $300 for the 40 some hour drive, so that’s a plus!

When I got to North Carolina in my little VW Passat and moved into my first studio loft apartment, I realized I didn’t budget for furniture. All I had was clothes and a few kitchen essentials. I had a nanny job that ended up not working out because the Mom decided to stay home with the baby.

So there I was, in my own apartment with no furniture, no job and about $1,700 in my bank account. Want to know the first thing I did? I went out and bought an $800 mattress, an $80 bed frame, a DVD player so I could watch movies, and a few more things for the apartment. Smart, I know.

A  week into living on my own, trying to find a job, and my money quickly disappearing, I started to panic. I had absolutely no backup plan and I wanted to prove myself and my parents that I could “Make it on my own.” I opened my first credit card and started charging everything I wanted/needed. It didn’t help that home decor stores were a two minute drive from where I lived.

At the time, I was more concerned about the “NOW” and even two years later, I have gotten in trouble with that term. My husband and I both have jumped into purchases we wanted “NOW” which is why we are “NOW” in major DEBT. 

Admitting having over $40,000 in DEBT is hard to do for anyone, but when you are 24 years old, I feel like that’s even harder. The mess that I created is the mess I have to now get out of. Which is why I am sharing this with all of you because no one wants to admit they’re in money trouble. The truth is, DEBT is a nightmare. It puts stress on you, your relationship, and your daily life.

If you are someone like me who loves to travel, loves to shop, then you know that with never-ending bills, that’s nearly impossible.

My husband and I started adding to the DEBT when we moved in together. We charged up every credit card, opened a line of credit, and our whole relationship for the past two years has been “how we are going to pay everything off.” It wasn’t until this week that we started taking action.

So what happened this week…

We drove to Charlotte, NC where my husband is getting transferred for work and we looked at a few apartments. We found the perfect place and applied. $300 later, we got an email that said “Sorry but your application was denied.” Yep, a huge DENIED. Considering we are moving in less than two weeks, that definitely put a giant rain cloud over both of us. The DEBT we built is now catching up with us.

I am well aware that every DEBT I have is my own doing, and some of you are probably sitting back laughing because you may have never been in this situation. The truth is, no one is born knowing money and how to manage it. We get emails about great credit card offers and it all looks simple until the limit runs out. The way I look at it, it’s better to start later after you admit the DEBT you have, then wake up twenty years from now sitting in a bigger pile of DEBT. 

My biggest advice from my experiences, don’t wait until you are way over your head in debt to start doing something about it. My husband and I are using our move next week to start fresh, to really get ourselves mentally prepared to get out of debt in a year. If you put everything into it, you can do it too! It’s all about not enjoying certain luxuries NOW, so you can enjoy them later.

Let’s take this journey to financial freedom together, I know it will be worth it!

(I hope this ADULTING series is helping you, leave me some comments below if you are in a similar situation, or any other comments, I would love to hear your feedback).

xo Y.M.





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