Behind 32 by 33: Diving Out of Debt

1.  Pay off one source of outstanding debt.

I’m sadly a poster girl for my generation when it comes to stupid financial decisions and truly believe that if the government extended the student loan payback grace period to a year versus six months from graduation, America would be a stronger place. I’m your classic tale:

  • Graduate during recession
  • Find underpaying job after three months
  • Pay 1/3 of your monthly income toward loan
  • Make up the difference on high interest credit card

Then when you finally make enough to live, you’re putting that toward your CC interest. It’s a vicious cycle, that I hopefully will be out of soon. I’m making steps. And even though I know that you’re supposed to pay off highest interest things first, there was a huge psychological hurdle cleared when I made my final student loan payment this year. And what’s left sucks, but I know I can do it. I’m also reassured that a lot of my spending (or delay in massive payments) has been to do amazing things like travel. I never bought a house or a car, and honestly I’d rather have credit card debt on experiences. It’s probably the worst advice to give anyone, but I’d rather have my stories than physical objects.

Next up: Coordinate one outing a month in a different San Francisco or Oakland neighborhood.

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About Meghan A.

creative & professional creative professional | communications, content & community | nasty woman | adventurer & inspiration seeker | bicyclist & feminist | walk san francisco board | current: Adobe Typekit Product Marketing Manager, former: TYPO SF magic maker
This entry was posted in 32 by 33, Brew To Bay and tagged , , , . Bookmark the permalink.

One Response to Behind 32 by 33: Diving Out of Debt

  1. Check out my blog! I’ve been using it to talk about my quest to be debt free.

    I was majorly in debt in January and finally got a hold of it. In January my cards were at 99% utilization, as of June 28 I was credit card debt free!! Small goals turn into big ones!

    I’m within months of buying my own home and should have my 3rd of 4 student loans paid off by next year. Even my financial plan has me 100 percent debt free in 7 years (that’s with my mortgage paid off too)!

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