I AM A 30 YEAR OLD MOMMY WHO IS FED UP WITH BEING STUPID WITH MONEY. AT THE RIPE OLD AGE OF 18 YEARS AND 1 DAY. I WALKED INTO A BANK AND CASHED A PAYCHECK FOR $350, WORKING AS A BARISTA AT A COFFEE SHOP IN THE MALL. I WAS FINALLY 18 AND THE TELLER OFFERED ME A CREDIT CARD WITH A $300 BALANCE. I WAS ECSTATIC! TO MY IMMATURE BRAIN, THAT MEANT I WAS CASHING A $650 PAYCHECK. I APPLIED FOR THE CARD AND WAS APPROVED AND AS SOON AS I RECEIVED THE CARD I MAXED IT OUT.
MY MOTHER HAS NEVER BEEN IN DEBT IN HER WHOLE LIFE. SHE ALWAYS TALKED TO ME ABOUT HOW TERRIBLE CREDIT CARDS WERE AND NEVER TO GO INTO DEBT. IF YOU CAN'T PAY FOR IT WITH CASH, YOU CAN'T AFFORD IT. SHE NEVER EVEN HAD A MORTGAGE OR CAR PAYMENT. HER PARENTS BOUGHT HER A CHEAP HOME TO LIVE IN WHEN I WAS 5 YEARS OLD. BEFORE THAT WE LIVED IN A TRAILER.
I OBVIOUSLY AND VERY UNFORTUNATELY DIDN'T LISTEN TO HER AND CONTINUED TO RACK UP CREDIT CARD DEBT. BEFORE I KNEW IT I HAD 5 CREDIT CARDS. I OWED OVER $5,000 AND EARNED MINIMUM WAGE WHILE GOING TO COLLEGE. WE WERE POOR ENOUGH THAT I WAS ABLE TO GET MY COLLEGE PAID FOR. I WENT TO A 4 YEAR COLLEGE FOR 2 YEARS AND THEN DROPPED OUT BEFORE EARNING A BACHELOR'S DEGREE. I THEN DECIDED AFTER A BREAK FROM SCHOOL THAT I WOULD LIKE TO GO TO CULINARY SCHOOL. I THEN WENT TO CULINARY SCHOOL, FOR FREE, FOR A YEAR AND A HALF AND DROPPED OUT BEFORE EARNING A DEGREE (AGAIN!).
I WAS REALLY STUPID IN LIFE FOR A LITTLE WHILE. I WENT BACK HOME TO LIVE WITH MY MOM AND I STARTED PARTYING MOST NIGHTS AND LIVING A VERY UNHEALTHY LIFESTYLE. I HAD NO AMBITION, NO GOALS, AND I STILL LIVED WITH THIS DEBT OVER MY HEAD STRESSING ME OUT. MY MOTHER OFFERED TO PAY OFF ALL MY DEBT FOR ME. I DID NOT SAY NO AND ALLOWED HER TO DO THIS FOR ME. IT WAS SO AMAZING AND I FELT SO MUCH RELIEF.
THEN...I MET WHO IS NOW MY HUSBAND. HE MADE ME REALIZE THAT THE THINGS I REALLY WANTED IN MY LIFE WERE POSSIBLE. I REALLY WANTED TO GET MARRIED, HAVE A CHILD, BUY A HOME, AND LIVE LIKE A NORMAL FREAKING ADULT. I GUESS YOU COULD SAY I REALLY WANTED THE AMERICAN DREAM AND HE MADE ME REALIZE IT WAS POSSIBLE.
THEN DEBT CREPT RIGHT BACK INTO MY LIFE. MY HUSBAND NEVER HAD A CREDIT CARD BEFORE BUT HE WANTED ALL OF THESE "THINGS" SO I TALKED HIM INTO APPLYING FOR A CREDIT CARD (OF COURSE). SO WE WENT TO BEST BUY AND APPLIED FOR A STORE CREDIT CARD AND LEFT WITH A NEW MICROWAVE AND A NEW VACUUM AND PROBABLY SOME OTHER STUPID "NECESSITIES." THEN I APPLIED FOR A COUPLE MORE CREDIT CARDS AND WAS APPROVED FOR BOTH OF THEM. THEY EACH HAD $6,000 CREDIT LIMITS. ONE FOR ME, ONE FOR MY SOON-TO-BE HUSBAND. THEN HE PROPOSED TO ME AND EVEN THOUGH MY MOTHER HANDED OVER $10,000 FOR ME TO PAY FOR MY WEDDING WITH CASH, I DECIDED THAT WASN'T ENOUGH. I THEN APPLIED FOR 2 CREDIT LINES THROUGH PAY PAL (BILL ME LATER ACCOUNTS). THAT WAS ANOTHER $4K-$5K AVAILABLE TO ME FOR THE WEDDING.
BEFORE THE WEDDING I ALSO DECIDED TO GO BACK TO SCHOOL TO EARN MY BACHELORS DEGREE. I DID, BUT THIS TIME IT WASN'T FREE. SO I RACKED UP $25K IN STUDENT LOAN DEBT.
FAST FORWARD...
WE ARE NOW IN TONS OF DEBT FROM TONS OF STUPID DECISIONS! WHAT WERE WE THINKING!? WE HAVE CREDIT CARD DEBT, BOTH OF US HAVE STUDENT LOAN DEBT, WE HAVE 2 CAR PAYMENTS, AND WE HAVE A SMALL MORTGAGE FROM MY HUSBAND'S HOME THAT HE BOUGHT BEFORE WE MET. IT IS SO SMALL THAT IT DOESN'T EVEN HAVE BEDROOMS. IT IS A BACHELOR PAD. SO, WE LIVE IN AN APARTMENT THAT DOES HAVE BEDROOMS (YAY!). ESSENTIALLY, WE ARE PAYING FOR A HOME WE DON'T LIVE IN WHILE IT SITS THERE AND COLLECTS DUST. THERE IS NO WAY WE CAN SELL THE HOUSE FOR THE AMOUNT WE OWE ON IT. NOT TO MENTION, WE DISCOVERED MOLD GROWING IN IT. IT IS A LOT OF A MOLD! IT WOULD COST UPWARD OF $7,000 JUST TO REMOVE ALL THE MOLD, THIS DOESN'T INCLUDE HOW MUCH IT WOULD COST TO REPAIR THE DAMAGE CAUSED BY THE MOLD.
SO HOW DID I COME TO THE DECISION TO STOP THIS MADNESS? I WAS DRIVING MY HUSBAND'S CAR TO WORK ONE DAY AND HE HAD THE RADIO ON AN AM STATION. I NEVER LISTEN TO TALK RADIO (EVER!). I HEARD THIS GUY GIVING OUT FINANCIAL ADVICE. HIS NAME WAS DAVE RAMSEY. I HAVE HEARD OF DAVE RAMSEY BUT NEVER LISTENED TO HIS RADIO SHOW OR READ HIS BOOKS. I HEARD OF THE BABY STEPS BUT DIDN'T KNOW WHAT THEY WERE. I WAS 100% IN LOVE WITH HIM AND THE WHOLE IDEA OF GETTING OUT OF DEBT FROM THAT MOMENT ON (APRIL 2016).
NOW, I WANT TO SHARE OUR JOURNEY OF GETTING OUT OF DEBT WITH YOU.
WELCOME TO STUPID MONEY GONE SMART!
MY MOTHER HAS NEVER BEEN IN DEBT IN HER WHOLE LIFE. SHE ALWAYS TALKED TO ME ABOUT HOW TERRIBLE CREDIT CARDS WERE AND NEVER TO GO INTO DEBT. IF YOU CAN'T PAY FOR IT WITH CASH, YOU CAN'T AFFORD IT. SHE NEVER EVEN HAD A MORTGAGE OR CAR PAYMENT. HER PARENTS BOUGHT HER A CHEAP HOME TO LIVE IN WHEN I WAS 5 YEARS OLD. BEFORE THAT WE LIVED IN A TRAILER.
I OBVIOUSLY AND VERY UNFORTUNATELY DIDN'T LISTEN TO HER AND CONTINUED TO RACK UP CREDIT CARD DEBT. BEFORE I KNEW IT I HAD 5 CREDIT CARDS. I OWED OVER $5,000 AND EARNED MINIMUM WAGE WHILE GOING TO COLLEGE. WE WERE POOR ENOUGH THAT I WAS ABLE TO GET MY COLLEGE PAID FOR. I WENT TO A 4 YEAR COLLEGE FOR 2 YEARS AND THEN DROPPED OUT BEFORE EARNING A BACHELOR'S DEGREE. I THEN DECIDED AFTER A BREAK FROM SCHOOL THAT I WOULD LIKE TO GO TO CULINARY SCHOOL. I THEN WENT TO CULINARY SCHOOL, FOR FREE, FOR A YEAR AND A HALF AND DROPPED OUT BEFORE EARNING A DEGREE (AGAIN!).
I WAS REALLY STUPID IN LIFE FOR A LITTLE WHILE. I WENT BACK HOME TO LIVE WITH MY MOM AND I STARTED PARTYING MOST NIGHTS AND LIVING A VERY UNHEALTHY LIFESTYLE. I HAD NO AMBITION, NO GOALS, AND I STILL LIVED WITH THIS DEBT OVER MY HEAD STRESSING ME OUT. MY MOTHER OFFERED TO PAY OFF ALL MY DEBT FOR ME. I DID NOT SAY NO AND ALLOWED HER TO DO THIS FOR ME. IT WAS SO AMAZING AND I FELT SO MUCH RELIEF.
THEN...I MET WHO IS NOW MY HUSBAND. HE MADE ME REALIZE THAT THE THINGS I REALLY WANTED IN MY LIFE WERE POSSIBLE. I REALLY WANTED TO GET MARRIED, HAVE A CHILD, BUY A HOME, AND LIVE LIKE A NORMAL FREAKING ADULT. I GUESS YOU COULD SAY I REALLY WANTED THE AMERICAN DREAM AND HE MADE ME REALIZE IT WAS POSSIBLE.
THEN DEBT CREPT RIGHT BACK INTO MY LIFE. MY HUSBAND NEVER HAD A CREDIT CARD BEFORE BUT HE WANTED ALL OF THESE "THINGS" SO I TALKED HIM INTO APPLYING FOR A CREDIT CARD (OF COURSE). SO WE WENT TO BEST BUY AND APPLIED FOR A STORE CREDIT CARD AND LEFT WITH A NEW MICROWAVE AND A NEW VACUUM AND PROBABLY SOME OTHER STUPID "NECESSITIES." THEN I APPLIED FOR A COUPLE MORE CREDIT CARDS AND WAS APPROVED FOR BOTH OF THEM. THEY EACH HAD $6,000 CREDIT LIMITS. ONE FOR ME, ONE FOR MY SOON-TO-BE HUSBAND. THEN HE PROPOSED TO ME AND EVEN THOUGH MY MOTHER HANDED OVER $10,000 FOR ME TO PAY FOR MY WEDDING WITH CASH, I DECIDED THAT WASN'T ENOUGH. I THEN APPLIED FOR 2 CREDIT LINES THROUGH PAY PAL (BILL ME LATER ACCOUNTS). THAT WAS ANOTHER $4K-$5K AVAILABLE TO ME FOR THE WEDDING.
BEFORE THE WEDDING I ALSO DECIDED TO GO BACK TO SCHOOL TO EARN MY BACHELORS DEGREE. I DID, BUT THIS TIME IT WASN'T FREE. SO I RACKED UP $25K IN STUDENT LOAN DEBT.
FAST FORWARD...
WE ARE NOW IN TONS OF DEBT FROM TONS OF STUPID DECISIONS! WHAT WERE WE THINKING!? WE HAVE CREDIT CARD DEBT, BOTH OF US HAVE STUDENT LOAN DEBT, WE HAVE 2 CAR PAYMENTS, AND WE HAVE A SMALL MORTGAGE FROM MY HUSBAND'S HOME THAT HE BOUGHT BEFORE WE MET. IT IS SO SMALL THAT IT DOESN'T EVEN HAVE BEDROOMS. IT IS A BACHELOR PAD. SO, WE LIVE IN AN APARTMENT THAT DOES HAVE BEDROOMS (YAY!). ESSENTIALLY, WE ARE PAYING FOR A HOME WE DON'T LIVE IN WHILE IT SITS THERE AND COLLECTS DUST. THERE IS NO WAY WE CAN SELL THE HOUSE FOR THE AMOUNT WE OWE ON IT. NOT TO MENTION, WE DISCOVERED MOLD GROWING IN IT. IT IS A LOT OF A MOLD! IT WOULD COST UPWARD OF $7,000 JUST TO REMOVE ALL THE MOLD, THIS DOESN'T INCLUDE HOW MUCH IT WOULD COST TO REPAIR THE DAMAGE CAUSED BY THE MOLD.
SO HOW DID I COME TO THE DECISION TO STOP THIS MADNESS? I WAS DRIVING MY HUSBAND'S CAR TO WORK ONE DAY AND HE HAD THE RADIO ON AN AM STATION. I NEVER LISTEN TO TALK RADIO (EVER!). I HEARD THIS GUY GIVING OUT FINANCIAL ADVICE. HIS NAME WAS DAVE RAMSEY. I HAVE HEARD OF DAVE RAMSEY BUT NEVER LISTENED TO HIS RADIO SHOW OR READ HIS BOOKS. I HEARD OF THE BABY STEPS BUT DIDN'T KNOW WHAT THEY WERE. I WAS 100% IN LOVE WITH HIM AND THE WHOLE IDEA OF GETTING OUT OF DEBT FROM THAT MOMENT ON (APRIL 2016).
NOW, I WANT TO SHARE OUR JOURNEY OF GETTING OUT OF DEBT WITH YOU.
WELCOME TO STUPID MONEY GONE SMART!