She Strengthens

Breaking Free from Financial Chaos

My financial journey has been a wild ride, filled with mistakes, regrets, and lessons learned the hard way. I got my first credit card at 18, and before I knew it, I had maxed it out. I ignored my bills, avoided collection calls, and treated my debt like a pesky fly at a picnic. But that was just the beginning of my financial woes.

The Debt Spiral

Over the next few years, I accumulated a staggering amount of debt, including parking tickets, moving violations, and small student loans. I didn’t have a degree to show for it, but I had a whopping $8,000 in subsidized student loan debt. I was lazy, dumb, and delusional, thinking that my debts would magically disappear.

The Wake-Up Call

It wasn’t until I landed a real job at 22 that I finally took my debts seriously. I started making payments, and within a year, I paid off my credit card debt. It was a huge relief, but I knew I still had a long way to go.

Lessons Learned

Through my journey, I’ve learned some valuable lessons about credit and debt. Here are the most important ones:

1. Face Your Fears

Answering your creditors is always better than avoiding them. They’re not out to get you; they just want to get paid. Be honest, and they’ll work with you to find a solution.

2. Bad Credit Holds You Back

Having bad credit makes you feel like a permanent child. You’ll face rejection, condescension, and limited financial independence. Accepting this reality is the first step to changing it.

3. Income Isn’t Everything

Earning a good income doesn’t guarantee financial freedom. Bad credit can still hold you back, even if you have the means to pay.

4. Negotiate Your Way Out

Something is always better than nothing. If you can only pay a certain amount, negotiate with your creditors to find a mutually beneficial solution.

5. Power Imbalances in Relationships

Bad credit can create power imbalances in relationships, making you feel dependent on others. It’s essential to acknowledge and address these dynamics.

6. Prioritize Your Debts

Don’t pay off everything at once. Prioritize your debts based on interest rates, income, savings, and day-to-day expenses. Make sure you’re saving for the future, too.

7. Own Your Mistakes

Acknowledging your financial mistakes is the first step to recovery. Stop hiding, and start owning your debt. It’s not easy, but it’s the only way to move forward.

By learning from my mistakes, I’ve been able to take control of my finances and start rebuilding my credit. It’s a long and difficult process, but it’s worth it.