Michelle’s Debt Journey
Hey there! Today, we have a guest sharing her personal story, and it’s none other than Michelle! Her blog caught my attention instantly with the captivating tagline, “A young woman’s adventure to be debt-free, face unemployment head-on, and buy a whole bunch of shoes!” But enough from me, let’s hear what Michelle has to say about her debt journey.
Debt, unfortunately, has always been a part of my life. Growing up in an Italian-American culture, being spendthrift was seen as normal. I remember my mom’s chaotic system of bills everywhere – her bedside table, car, purse… all cluttered with letters from credit card and loan companies. Growing up, I felt that managing debt and fearing the mailbox was just a part of life.
My mom’s struggle with debt hit an all-time high. Bankruptcy was a conversation at our dining table too often. When she had to file for it, it became the new norm for us, the usual discourse around our lives.
As an adult, I felt compelled to help her out financially. She had already dipped into my college fund to settle a legal fee. Responding to her financial distress and emotional instability, I lent her my credit card, hoping this would assist her in managing daily expenses while working on her debt.
Instead, she misused my credit cards to gamble and buy non-essentials. Things took a downward spiral in my junior year of college when I received my first collection call – turns out my mom hadn’t been taking care of the credit card payments as I’d assumed. I realized then that I needed to chart a different path than my mom’s to avoid a similar fate.
Clearing her debt from my card took me another five grinding years full of lessons. Now, I am working towards a debt-free life, one credit card, and one memory at a time.
People often ask me for advice when a loved one is drowning in debt. My answer is simple: Let others learn from their own mistakes. Don’t let your emotions control your financial decisions. If you find yourself entangled in someone else’s financial mess, untwine yourself swiftly. Climb back up, learn from your missteps, and move forward one dollar at a time.
Michelle shares more about her journey on her blog “Fit is the New Poor”, where she’s all about reaching financial freedom, decreasing her debt, and firming up her assets. Follow her on Twitter @fitisthenewpoor.