DEBT FREE

I’m not sure if I should be embarrassed or proud- either way, one thing I always am is too honest.  I spent the majority of my 20’s in debt.  Like serious, “What are you thinking, you can’t afford that” debt.  This is particularly sad because I hadn’t amassed any student loans prior to graduation.  My overly generous parents worked their asses off so I could go to school bill free, and focus all my time on partying- or studying, or whatever it was I was supposed to be doing in college.

I was living in a big city with big bills making next to nothing (by Boston standards), going out to nice dinners and traveling wherever I could find a friend to join me.  To say I was having the time of my life is an understatement.  At the age of 26 I had, gasp, $40,000 in non-mortgage debt.  Yes, that means I had basically zero to show for it.  I wasn’t even driving a brand new fancy car!  When I left the big city, I also decided to live my big lifestyle behind, which meant moving in with my parents, scaling back my social life, and shopping at Target & TJ Maxx (although truthfully I shopped at these stores in Boston too- I just started shopping a lot less frequently).  After all, less social life requires a smaller wardrobe.  Thankfully within a month of moving home I met Kyle, my super financially responsible husband, who occupied my evenings and weekends with free or nearly free activities.

It has taken me 2 yrs and 8 months, but I am finally debt free.  Whew, exhale.  It is SUCH a great feeling to know that I don’t owe a cent to anyone, aside from our mortgage company- which I’ll consider good debt, since we have quite a bit of equity and are in a well-priced home.  (One of the smallest/least expensive houses on the street- WHOOP WHOOP!)  In the process of paying off all this debt (think couponing, selling things on craigslist, odd side jobs, bargain hunting, price adjustments, DIY home/wedding projects, home cooked meals, painting my own nails, and occasionally dying my own hair) I’ve also been able to put 5% of my salary aside into my 401k, and contribute my fair share to our household bills.

If I had a do over, I probably wouldn’t change a thing.  I kept telling myself with each credit card swipe that someday I’d make more money and pay these bills.  Well a decade passed, my income didn’t increase a whole lot, and 29 yr old Beth had to pay off 22 yr old Beth’s debts.  I learned such a valuable lesson- which can be summed up by one word: patience.  If I really want something, I will save my money, and patiently wait until I have enough to pay for it in cash.  Of course I charge it to get those sky miles, but from this day forward, all of my credit cards will be paid to a $0 balance each month, and damn that feels good.  I still get house envy, car envy, and wardrobe envy- but I know that in the long run I can’t take any of these things with me, and I’d rather have financial peace of mind, than a shiny new anything.

And just because every post is better with a picture... My home, my family, my life!