I have been developing this blog in my head for months. I’ve tried to come up with the right mix of intelligence, humor, helpful hints and intrigue. I have no idea if I have what a blog needs to keep readers entertained and returning week after week. I will, however give it my best shot.
My story is not unlike many other stories of the journey to a mountain of debt. And I will get into my full story soon. But for now I will say that I have three types of debt; Credit Card debt, School Loans and a personal loan from a family member. For the purpose of this blog, I am not going to address the personal loan. This family member has stated that the money does not need to be paid back any time soon. Personally, I intend to pay it back once I am free from credit card debt and have an active savings plan in place.
Just before beginning this blog I was dealt a blow to my plans. The transmission on my 1999 Honda Accord called it quits. I knew this was going to happen at some point, it had 172,000 miles on it and I could feel the change in the transmission in recent months. Although I expected it, I hadn’t planned for it and so I am without transportation at the moment. I was already unemployed and have been for quite some time. Now my job hunt is taking a different turn as I attempt to get creative and find ways to earn some money. My first priority is to save enough money to buy a vehicle. I’m calling this the “New to Me Car fund.”
In order to build up the “New to Me Car Fund.” I have ceased payments on all credit cards with the exception of one MasterCard. My credit has already been ruined thanks to months of unemployment. There just isn’t anything I can do about that right now. My only income is from odd jobs and child support payments for my children.
I am neither proud nor happy with my current situation. I did not intend to live off child support payments for my children. But I am using that money to build a life for us and I feel justified in using it towards debt when there is extra to spend on it.
In my next post, I will explain how I got into the debt that I did and I will post the exact dollar amount. At this point, I do not know how much I owe. I have avoided looking at the bills for months.
I will also delve into the hard facts, the truth about how I’ve lived my life up until now. I don’t expect it to be easy for me to admit. Once we get through the “why I’m here” parts I will begin to develop my “how I’m going to get out of here” plan.