The Beginning of the End of Debt

Hi!  My name is Sarah and this blog is going to be about my journey to eliminate the massive amounts of debt that I have built up since college.  I’ve seen many other blog posts about how to get rid or debt whether it be student loans, credit cards, or medical bills and these sites have really helped me to get some new ideas and get creative with the ways that I tackle my debt.  I hope that by sharing my strategies and results I will be able to help someone else to do the same.

To give you just a small idea of what qualifies me to write these posts, let me tell you a little more about myself.  I went to a 4 year private college to become an elementary school teacher.  I paid nearly $45,000 a year and used student loans to cover nearly all of my tuition.  This was certainly not the brightest idea that I’ve ever had.  While I did work steadily through college, I was only able to make enough to cover my basic living expenses, so I did not make any payments towards my student loans.  Also a bad idea.

After college I moved into a full time job as a 5th grade teacher making about $32,000 a year.  When my loan payments started to come due I was living paycheck to paycheck and barely making ends meet.  During this time I also ended up having emergency surgery for my appendix and racked up quite a bit in medical bills.  I was starting to drown and I ended up taking out an internet loan and opening several credit cards.  I quickly exhausted the balances on all of my credit cards as well as the funds from the internet loan but was then unable to make the payments on any of the accounts that I had opened.  I ended up nearly $150,000 in debt with several overdue accounts and creditors calling me day and night.  Shortly after all of this, I was laid off from my job due to the school I was working at closing and I lost all steady sources of income.  This is where I am today.

I am currently searching for full time work salaried work as well as part time work to tide me over through the job search process.  I am still living off of credit cards until I am able to find a steady income again but this is certainly not the method that I recommend by any means.

Now that you can see the massive mess that I have made of my finances, I hope to be able to post something more helpful than this next time and I hope that my story and strategies will be of some help to you.

Thanks for reading!  Now I’m off to go job hunting, wish me luck!