As some or most of you know, I work in an office at a financial firm that deals with insolvency. What is insolvency you ask? So glad you're curious :) When a person is insolvent, they can't pay back the money they owe with the money they're making. Pretty simple and, unfortunately, pretty common. If there's no way a person can deal with their bills, they file for bankruptcy or a consumer proposal: the former which eliminates their debt and the latter in which they pay back a portion.
Coolest subject on the street. I know.
Anyhow, I see files pass through with people owing anywhere from $20,000 to $600,000 -- not including their mortgages. Seeing these numbers (as sad as this sounds) makes me feel pretty good about my current financial situation. I don't have ten credit cards. I don't have collection agencies calling me (though I did get a letter from the library once...). And, I don't lay awake at night with heart palpitations because I don't know how I'm going to pay my rent. Sure I have a visa and a line of credit and a car payment and whatnot...but I throw money at them and it's all good.
One of my best friends came over a couple weeks ago and we started talking about debt. She (and you know who you are ;) ) is a wonder for my generation. Instead of racking up student debt or using credit cards, she worked her way through school and chose to live at home. She will be graduating (very soon, I might add) without a hint of debt. And she's not one of those misers who mooches food and stares at the sidewalk as she walks, looking for loose change dropped from one of those gangstas with sagging pockets. She lives an awesome life...she just does it wisely.
Hmmmm.
That night I sat down with a glass of wine, a notebook and a good dose of reality and started figuring out my debts. Those fun numbers being written down I wrote down my income and expenses.
Hmmmm.
If I kept spending at the same rate, I would find myself in my own office (for a very different reason) within a few years. What fun.
I work in a bankruptcy office and I don't pay attention to my finances. How's that for irony, Alanis Morissette?
So now it comes down to the choice. Do I turn a blind eye to every swipe of the card or do I make productive (albeit possibly painful) steps towards financial freedom, peace of mind and general awesomeness? Do I want to be blocking numbers on my phone in five years or going back to school debt-free?
After meeting with a couple of people at my work, hammering out a budget and watching more episodes of "Til Debt Do Us Part" than I'd care to admit, I finally feel like I have a game plan, and I'm SO excited at the prospect of being in control of my finances.
Because this is what all 22 year-olds do on their day off ;)
I'd love your guys' support, advice, questions and general awesomeness (because you know you have it haha). I'm so glad I'm dealing with this in my early 20's rather than when I'm hundreds of thousands of dollars of debts 20 years down the road.
I shall be posting of my efforts and it may not be pretty. I hope at least it's entertaining.
And thanks to this post, Alanis Morissette is now my Saturday night soundtrack.
Coolest subject on the street. I know.
Anyhow, I see files pass through with people owing anywhere from $20,000 to $600,000 -- not including their mortgages. Seeing these numbers (as sad as this sounds) makes me feel pretty good about my current financial situation. I don't have ten credit cards. I don't have collection agencies calling me (though I did get a letter from the library once...). And, I don't lay awake at night with heart palpitations because I don't know how I'm going to pay my rent. Sure I have a visa and a line of credit and a car payment and whatnot...but I throw money at them and it's all good.
One of my best friends came over a couple weeks ago and we started talking about debt. She (and you know who you are ;) ) is a wonder for my generation. Instead of racking up student debt or using credit cards, she worked her way through school and chose to live at home. She will be graduating (very soon, I might add) without a hint of debt. And she's not one of those misers who mooches food and stares at the sidewalk as she walks, looking for loose change dropped from one of those gangstas with sagging pockets. She lives an awesome life...she just does it wisely.
Hmmmm.
That night I sat down with a glass of wine, a notebook and a good dose of reality and started figuring out my debts. Those fun numbers being written down I wrote down my income and expenses.
Hmmmm.
If I kept spending at the same rate, I would find myself in my own office (for a very different reason) within a few years. What fun.
I work in a bankruptcy office and I don't pay attention to my finances. How's that for irony, Alanis Morissette?
So now it comes down to the choice. Do I turn a blind eye to every swipe of the card or do I make productive (albeit possibly painful) steps towards financial freedom, peace of mind and general awesomeness? Do I want to be blocking numbers on my phone in five years or going back to school debt-free?
After meeting with a couple of people at my work, hammering out a budget and watching more episodes of "Til Debt Do Us Part" than I'd care to admit, I finally feel like I have a game plan, and I'm SO excited at the prospect of being in control of my finances.
Because this is what all 22 year-olds do on their day off ;)
I'd love your guys' support, advice, questions and general awesomeness (because you know you have it haha). I'm so glad I'm dealing with this in my early 20's rather than when I'm hundreds of thousands of dollars of debts 20 years down the road.
I shall be posting of my efforts and it may not be pretty. I hope at least it's entertaining.
And thanks to this post, Alanis Morissette is now my Saturday night soundtrack.
