The Hardest Years December 7, 2008

When I was in college, I was a credit card pusher’s dream.  “Hey, fill out this short little form and we’ll give you a plastic Slinky™ knock-off!”  I went for it every time because you know, one can never have too many fake Slinkys in the dorm.

Once I got out of college and got married, a new reality set in.  As the one making the pittance salary (English major = “Do you want fries with that?”) I paid for the house and my car, and the Mr. covered all the rest.  Since he was the one paying, he frowned upon frivolous purchases.   Out came the plastic for things that I got sucked into, thanks to my coworkers: manicures, kickboxing classes, a poor attempt at trendy dressing, you know the sort.  I was heartily tired of sitting on a 20-year-old couch.  Not only was it a legacy from the Mr.’s parents, but it had also gone through three years of all-male college apartment life.  All our furniture was hand-me-downs, and I really wanted something–anything–that was ours, not his from his family.  When he refused to consider new furniture, I added that to the growing expenses taken care of by a little rectangle of plastic.

I wanted to be the doting aunt; I charged stuff.  I wanted that new book; I charged it.  I wanted that whatever. . . you get the idea.

Fast-forward many years and some additional drama, and I found myself $34K in the hole, working two jobs, and still unable to get ahead.  All of that was credit-card debt.  I had no student loans, my car was paid off, but the debt kept seeping in and I couldn’t bail out my boat fast enough to keep myself afloat.

I finally got myself signed up with Consumer Credit Counseling Service.  I was put on a strict payment plan, but I was given a timeline, by the end of which I would be debt-free.  I have been paying $200 a week to reduce my debt.  For a long time, that was nearly half my net pay.  It was particularly tough during the year I was unemployed thanks to a job layoff.  Although it’s been easier lately, I’ve had my hours cut at work, and money’s tight again.

But tonight, I finished my self-study course in personal financial education.   My total debt (not counting my used-car payment) is a measly $1,150.  That’s still a chunk of change, but not when you consider that’s less than two months’ worth of weekly payments.

There’s a light at the end of the tunnel, and I can feel the weight beginning to lift.  These have been the hardest four years of my life, but I don’t think I’ve ever been prouder of myself.  I still have a bit of an uphill battle to fight.  I haven’t had a credit card since I was accepted into the debt management program.  I used cash, checks, and my debit card exclusively.  I still have to re-learn responsibility and fight the temptation that I know will be there as it comes time to rebuild my credit.  The one thing that’s in my favor is the memory of these sometimes bitterly difficult years, and knowing I don’t ever want to be in that place I started from again.

It feels good.