In my early 20’s I thought that I was drowning in debt. Credit saved me several times from financial emergencies, but figuring out how to make the monthly payments became an ongoing challenge. I remember keeping a notebook and a calendar. In my notebook, I had a debt repayment log. I kept up with bill due dates, interest rates, minimum due, amount paid and the remaining balance. The calendar was filled in with bill due dates and the amount that I was planning to pay. I was so excited each month and I was able to reduce the amount I owed or cross another paid account off my list. I kept up with everything, until all of my debt was completely paid off.
Looking back, the amount of debt that I had back then is laughable (now), but at the time I was completely overwhelmed with the looming reality that I owed money and had to pay towards it every month. My anxiety was likely caused by the fact that there was no extra to spare. I was barely making ends meet and I remember trying to stretch my remaining $20 – after all bills were paid – until my next payday. But I learned a lot about the rewards of discipline and the mindset shift that needs to take place to overcome debt and change your financial situation.