I’m a 20-something year old, living in the Northeast and slowly trying to find my way in life. I graduated from college in May of 2012, and it just so happens that like many recent college graduates I took on a huge amount of debt. The only problem is that my amount of debt is much higher than the average graduating student at $83,000. The one good thing is that I feel that I did get a relevant degree that touches in both business & technology and I did not have a problem securing a job before graduation at a reasonable salary. I know that I am extremely lucky for this as many graduates have a huge debt burden and are also underemployed, so I am very grateful for for my job and the good luck I have.
With this current debt burden though, it has not been without sacrifice. I plan on living at home for the time being and though I have a great relationship with my parents and a great way to save money, I do miss being on my own as I was at college. I would like to pay down my debt and move out as soon as I possibly can. My girlfriend still has another year in college, so at the moment I’m not pushing that issue too much. It’s not the perfect situation but it’s helping me pay down my debt much, much faster than I would be able to while paying rent.
I love to write but my job doesn’t really consist of much writing other than e-mails, so that’s where this blog comes into play. I also think that by forcing myself to put my debt out in the open and see it right in front of my own eyes it will really motivate me in paying off my loans. I also think it will help me in budgeting and seeing exactly where my money goes.
I had also originally decided to major in Computer Science and while I didn’t want to program for a living, it still is of interest to me. I had dabbled a bit in web design a few years back, but nothing too complicated. A bunch of extremely basic pages but I also created a website using PostNuke (an old CMS system) to track stats from a game I played/server I hosted. That’s where I taught myself some basic SQL and database stuff so learning to use WordPress and mess around with it has been a fun challenge for me.
It would be truly awesome if you followed me along on my journey to becoming debt free and then hopefully moving onto to financial independence or somewhere close to that. I hope to be able to share my experiences as well as hear about some of your experiences too!
Please remember that any articles posted on this site are simply my opinion based on the research that I have done. I’m not 100% correct and I’m constantly learning new and better information. Always make sure to check out other sources before making your own financial decision and if necessary contact a professional.
Hi,
Wow you did a great job already. From 83k to 42k in just 2 years! If you’re able to keep the same pace and invest 20k per year wisely you’ll get financially independant pretty fast!
Keep up the good work and good luck with your goals… even though we know that luck has only a minor role here. It’s more about discipline and determination!
Thanks for stopping by! When you put it like that it really does feel like I’ve made a ton of progress, just wishing that I didn’t still have so much left. I know that I’ll get there as soon as I possibly can though.
Realistically, I don’t think I’ll be able to save 20k a year of the gate, but I am hoping to be able to save around ~10k a year once my student loans are paid off at the minimum. I’m “cheating” right now as my expenses are so low without rent and other costs associated with that.
Can I move in with your parents too? I’m 53. This would help a lot if I could get free housing.
I believe they have had a vacancy for quite some time now, but they might be open to applications. You’ll have to ask!