Look at the debt.
This is the step I avoided for a long time. It’s hard to face your demons, so I’m going to put them center stage for all to see. It’s embarrassing, but kind of relieving to see it all in one place like this.
My debt payment progress.
$28,342/$70,423
Here is a breakdown of all of my debt.
Priority Debt
Backtaxes ’23
2023 income taxes.
Promised to pay by April 2025
7.00% APR
Back Taxes
-$5,493.35
Starting: -$5,077.00
1/1
AmEx
Opened July 2019. My first big credit limit. ($2,000 originally)
28.99% APR
Min. Payment: $97
Credit Card
-$3,384.94
Credit Limit: $3,500
112
Dad’s Loan
Received in 2022. The debt that I have the most guilt over.
6.00% APR
Payment: $200
Personal Loan
-$3,600.00
PAUSED – JAN 2026
112
NelNet
Opened January 2018. I am so fortunate to have had my parents pay for my schooling.
4.45% APR
Min. Payment: $50
Student Loan
-$4,518.64
PAUSED – MAY 2025
112
Upgrade
Needed funding after getting laid off.
4.45% APR
Min. Payment: $50
Personal Loan
-$7,985.00
Starting: $8,000.00
2/2
Paid Off
CarMax
Car Loan
$0.00
Starting: -$11,863
1
Upgrade
Personal Loan
$0.00
Starting: -$10,000
1/2
Chase
Credit Card
$0.00
Credit Limit: -$5,800
1/2
Credit One
Opened September 2022. It’s unclear why I was approved.
28.99% APR
Min. Payment: $97
Credit Card
$0.00
Credit Limit: $3,000
1/2
Uplift
Cruise Loan
$0.00
Starting: -$2,676.00
1/1
Apple Card
Credit Card
$0.00
Credit Limit: $1,750
1/1
Affirm
A special gift for a special person.
26.99% APR
Christmas Loan
$0.00
Starting: -$1,629.14
3/3
Backtaxes ’22
Back Taxes
$0.00
Starting: -$1,311.12
1/1
Medical Debt
One medical emergency later…
Payment: $53
Personal Loan
$0.00
Starting: -$671.87
112
Ameris
Opened May 2023. Trying to get 0% interest cards.
0% APR until Sept. 2025
Credit Card
$0.00
Credit Limit: -$600
1/1
Affirm
Personal Loan
$0.00
Starting: -$562.69
2/3
Chase
Opened May 2023. Trying to get 0% interest cards
0% APR until Sept. 2025
Credit Card
$0.00
Credit Limit: $550
2/2
Credit One
Credit Card
$0.00
Credit Limit: $550
2/2
Capital One
Credit Card
$0.00
Credit Limit: $300
1/1
Affirm
$0.00
Starting: -$185
1/3
last updated: March 6, 2024
My Total Debt.
-$28,342.58
Original Debt: -$70,423.66
Min. Monthly Payments.
$600.00
35% of monthly net income
It quickly got out-of-hand.
New phones, nice restaurants, helping friends and vacations. I just wanted to list a few reasons why I am in this position. Over time, its really easy to lose track of what your tab has amounted to. Your monthly payments start to blur together until all you see is an entire paycheck gone after bills.
Most was non-essentials.
The vast majority of my debt isn’t from noble sources like student loans, or medical debt. I wanted to spend money on things I could not afford. Now I spend more on minimum payments than I do on all of my other bills (including rent) combined.
brokellama 