Mel’s Rollercoaster Journey Through Debt
Growing up in a household where education was the golden standard, it was never a question of whether I would go to college. It was predetermined. So I did. AMA double major in literature and theater production, I completed my undergrad in three years. With support from my parents, I even went to grad school and finished three Master’s degrees in related disciplines.
My parents were always there to help, but after the recession hit in 2008, I didn’t want to be a burden. So, I started working full time while still going to school. I got a job as a customer service representative at Nationwide, and to say I despised it will be an understatement. Who likes being yelled at all day? Not me.
Luckily, I lived in an affordable area in Virginia. However, the cost of rent and tuition pushed me into a little credit card debt. After graduation, I was clueless about my future, all I knew was I needed to escape Nationwide.
So when my best friend, who was on her way to a lucrative career, asked me to move to San Francisco with her, I jumped at the opportunity. We went on this exciting cross-country road trip, and I ended up in an amazing apartment in Noe Valley. Catch: the rent was high and I didn’t have a job.
After weeks of job hunting and feeling low, I finally got a job at a cruise line as a stage manager, which I adored. The following years were incredible. I saw the world while doing what I loved. However, the downsides of the job started outweighing the pros, and I began thinking about my next move.
I thought of pursuing my PhD in theater to eventually become a professor. Unfortunately, my applications were unsuccessful. Then, I stumbled upon a UK Master’s program. The catch was, I needed to show £32,000 on my bank statement to get a student visa. Way out of my budget! Reluctantly, I had to ask my well-off grandma for the money. She gave me the loan but became my personal finance advisor who commented on every penny I spent until I paid her back.
Life in England was expensive, but with two part-time jobs, I scraped by. I then applied for another loan when I ran out of money by mid-school year. When I completed my studies and returned to work, my debt amounted to around $29,000.
I returned to the cruise ship, determined to clear my debt. After various assignments, I was finally debt-free. I moved on to work at the circus for a year and eventually paid off the loan to my grandma.
Reflecting back, I don’t regret my journey. I cherished my time abroad and my study. If I could turn back the clock, I might even splurge more on experiences. However, the lessons I learned from navigating through my debt were priceless, teaching me the true importance of financial planning and responsibility.