breaking up with debt

 

Personal Finance Column by Jennifer Calonia 

 

You probably know someone with my sad, yet all too common, story. I’m a product of the Debt Generation — a college grad who’s accumulated more credit card and loan debt that I can reasonably stomach. As a college student who was financially independent of my parents’ wallets, dinners consisted of “gourmet” Ramen noodles, rather than a proper meal. But my thirst for more things in my college years led me astray and brought me closer to more convenient income sources, like gorging on student loans and satisfying my little guilty pleasures (i.e. a night out with friends, a new bicycle, etc.) with my trusty credit card.

Despite having a greater financial awareness years after graduation, I buckled and added a new shiny car loan to my repertoire, bringing my total debt to over $50,000. Friends assure me that debt is simply a natural part of adulthood, “Why fight it? We’ll always be in debt for the rest of our lives,” they say. But I refuse to believe that shouldering debt is the new norm, which is why I’m taking the road less traveled by getting rid of it using Dave Ramsey’s seven baby steps, and detailing it all here in my column.

Follow along on the journey by subscribing to my newsletter and learn how to overcome your own battle with debt, too.

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