Are you sick and tired of feeling broke or being in debt? If you are, then you have come to the right place. I created My Money Counts as a place to share personal experiences with money – debt management, savings, investing, day-to-day living, and more.
Why did I created this blog?
After completing my post-grad studies I worked multiple jobs, some in my field and some not in my field, just to make a decent income. I attended networking events, customized every resume I sent out and even interned pro-bono once for a few months just get a leg up. However, the jobs and pay felt like I was going nowhere fast. So we decided that with our degrees and our combined $120,000 debt and little savings, my then boyfriend (now husband) and I resolved to get busy eliminating our $120k elephant.
What I did about it?
I developed a 3 year plan to eliminate all our debts by Dec 31st, 2015. We started our debt repayment journey on July 1st 2013 and were complete debt free by Dec 15th, 2015, 6 months ahead of schedule.
Why such a plan?
Simple. We wanted our life back. Our monthly combined student loan payment were $1,220/month ….yah, you read that correctly. The debt would have taken us 10.5yrs to fully pay it back making these minimum payments. We would be almost 40 by then. Yikes! We started making the minimum payments after graduating as our pay at the time was sufficient to cover that. However, we always talked about how free we would feel if all of our debts could be paid off sooner rather than the 10-12yr plan.
Many are in the same boat that we were in -overwhelmed by debt and underwhelmed by the repayment progress.
Because it’s YOUR LIFE. Whether you dug yourself into the debt hole or circumstances beyond your control found you there, only you can determine what happens next.
Although our degrees point to us having studied finance and accounting, we were just as dumb about our finances as the next person. We didn’t feel cheated but we knew that if we didn’t act, we would continue to be underwhelmed. So we set a plan to become debt free! If we can do it…so can you.
Where are we now?
We are debt free! (Never going to get tired of saying or writing that ☺) our focus now is living modestly with less money stress, and building the cornerstones to our financial future, through savings, investing, vacationing and whatever fun things we feel like doing next.