i have been in financial trouble most of my adult (maybe “college-aged” would be more appro) life. i just paid a staggering amount of money to my educational loans, which have started to collect since i left university this past fall. i honestly have $11 in my checking right now. luckily, there is plenty of savings but i have promised myself not to touch that. that account is for more important things than chipotle…or highlights…or a new bag. in addition, i set up automatic payments to begin on the 26th of next month for my student loan, also at a percentage that is double the minimum amount.
aaaaaandddd…i still owe my bank for the line of credit they so thoughtfully extended me…and i so foolishly used to its extent (and then some!). but i’m 3/4 of the way there! i also budgeted to have that account closed in SIX MONTHS MAXIMUM, paying almost five-fold the minimum payment. my budget also makes room for some hefty savings to occur. i’ve always been good at throwing tons of money into my savings account; alas, after so many months, the big number i see there is begging to be spent. and i always give in. but no more! from this moment on, i have a plan! and a budget! and automatic bill pay! loans and repayments and minuscule checking accounts will no longer dictate my life!
i just don’t understand how the daughter of such a financially savvy man can dig herself into such a deep hole. i’m sure my burden will be tremendously lighter as soon as the initial shock wears off.
please tell me i’m not alone here….