My War on Debt

Credit card and student loan debt sucks. It’s too easy to get and spend irresponsibly. I unfortunately know by experience. They’re a big obstacle that’s keeping me from moving to Europe. My plan once I’m there doesn’t include a stable income. The less expenses I have, the better. This is a big focus of mine and my journey out of debt will be a huge part of the blog.

Let’s take a look at the damage, shall we?

Credit Card Debt

  • 9/12/12- $1,655.47
  • 10/12/12- 1,546.96
  • 11/11/12- 1,316.49
  • 11/26/12- 1,131.40
  • Current Credit Card Debt: $952.27

Considering it was at just under $1,700 not too long ago, I’m doing damn good with this one. I figured out I paid over $200 just in interest this year and that really disgusts me. That’s basically 20 hours of work for me to pay off the interest alone. Ew.

Student Loans

  • Subsidized loans- $6,750
  • Unsubsidized loans- $3,000
  • Interest- $162.79

Total Student Loan Debt: $9,912.79

I like subsidized loans as those don’t accrue interest until I graduate. My current plan is to be a part-time student for as long as I can so I can focus on paying off those unsubsidized loans.

Through some “smart” borrowing, I should have those unsubsidized loans taken care of after next semester which means no interest. I like that. I’ll focus on the loans after I get that damn credit card paid off which should be around March 2013.

Let me know what you think about my debt dilemma. Any tips or insight are greatly appreciated.

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