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- $
- 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.
- 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.