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My One Year Student Loan Payoff Update

  January 28, 2022 marked my one year anniversary of paying off my student loans . Reflecting back on choosing to pay off my student loans leaves me with several take a ways that I want to share with you! In September 2020 I decided to become debt free by utilizing the debt snowball method to pay off all my debt. Before this I had struggled to save and really understand basic financial principles. As a first-generation college student, I received a scholarship to attend undergrad for free, but the scholarship did not cover summers. During the summers I took out student loans to cover costs without paying interest rates or how much I was taking out. By the end of undergrad I had amassed a little under $17K. Fast forward to graduate school I received another scholarship that covered my education. At the time I was a teacher in a new very expensive city and I had missed the cutoff to have my paycheck last me throughout the summer. So, I decided to take out a loan for two summers to keep
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See Ya Never Credit Card Debt !

(This a photo of me with my hands placed on each of my cheeks while looking surprised used as a thumbnail for my YouTube video on $3,753.53 of Credit Card Debt Gone!.)





I paid off $3,753.23 of credit card debt in SIX MONTHES! I honestly cannot believe it! I am free of credit card debt! I keep checking my balance to see the number zero and it feels so good. In August, I decided that I wanted to pay off a few things but by September, I had found Dave Ramsey (debt free guru) who motivated me to dump debt period! Since September, I have been “gazelle intense” by sticking to a budget, cutting out my wants, and staying focused. Reading up on financial literacy from Dave and Suze Orman have also really helped me to broaden my own knowledge in this area, which is something I have never done before. 


Changing my mindset about money has been the biggest factor. I no longer view money with fear or as a pain in the butt. Have you ever cringed at the thought of looking at your balance? Yeah that was me too! Now I see money as a tool that I can control to build wealth and change my family tree. In chapter five of Orman’s “9 Steps to Financial Freedom” she says, “Respect attracts money”. I have not found this to be more true in the last several months.


When I started respecting my money (and acting like I had some sense!) I have seen blessing after blessing from groceries, to gift cards, and bills being totally forgiven I mean it is has truly been a world wind. I owe it all to Christ, thank you Jesus! I currently have three items left on my journey before I am completely debt free. I plan to keep you all updated along the way. Be sure to leave a comment with any questions or advice on how you’ve tackled debt. See ya never credit card debt! Check out the video below for more information on what my journey has been like!

 

SUBSCRIBE: Adult Daily Living Skills: I Paid Off $3,753.53 of Credit Debt in Six Months!

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