Credit Card Debt…. a twenty-something’s perspective.


The moment I turned 18, I rushed to the bank {PNC} to apply for my first credit card. It was on top of my list of things to do as a “real” adult. Why was this the first thing I wanted for my big-girl birthday? I think it’s because I spent my whole life being uber poor. We didn’t have a lot of “nice things” and the glitz and sparkles of life were taunting me. 

Anyway, the point is that I marched in there, applied for a credit card, and within days was the proud owner of $500 worth of debt. No big deal right? That’s nothing..$500. But over time (a very short amount of time actually) I racked up thousands…thousands in the double digits. Everything seemed to go on a credit card: furniture, clothing, meals, airplane tickets. I was using my credit cards for things, even when I had the money because of some ridiculous “points system”.

For years, it never bothered me.. paying the minimum payments, occasionally forgetting to pay altogether. Eventually my credit took a turn for the worse, but I still didn’t care because that adorable Michael Kors coat was hanging in my closet. 

I’m not sure what flipped the switch, but just recently did I start to worry about my overwhelming amount of credit card debt. Maybe I finally felt gross when the new credit card offers stopped coming and I was left with too many minimum payments and overpriced clothes. I just recently decided that I want to be able to buy things and actually own them. So… my husband and I made some tough decisions. We sold our house, our very first home, for quite a profit. We used almost 90% of that profit to pay off almost all of our debt. 

Now, I am left with just a few thousand in debt and back to apartment life… but I feel better. Better because we are finally on the right track, better because I am on my way to owning everything that is mine, and better because we can start rebuilding now. 

Yes, this whole thing is unfortunate. But I am so lucky to have learned this early. And also so blessed that God gave me a way to fix this, with hardly any work on my end. We happened to invest in a home at the right time, and were able to sell it at the right time. It’s sad for us because we loved it, because a house does not make a home. And now we can think about starting our family in a new home, with no debt. 

Just some interesting information…I am saving $845 a month in minimum payments. That is all money that I can put away for something we really want, and buy it in cash one day! 

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Byeeeee house. 

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