She Strengthens

Breaking Free from Debt: A Journey of Self-Discovery

As I walked off the college stage, diploma in hand, I was burdened with $11,500 in student loan debt. Although it was a relatively small amount compared to many of my peers, I was determined to pay it off quickly to avoid delaying my long-term financial goals. I created a plan, educating myself on debt repayment methods, avoiding lifestyle inflation, and even starting a blog to document my journey.

The Sweet Taste of Freedom

Ten months into my first year post-grad, I made my final loan payment. The sense of freedom I felt was exhilarating. I could finally build up my emergency fund and spend more money on myself without the weight of debt holding me back. But little did I know, my journey was far from over.

A Shocking Revelation

Months after celebrating my debt-free status, I received a bill for a $2,000 Perkins loan I had forgotten about. I was shocked, embarrassed, and disappointed in myself. How could I, a responsible person, forget about such a significant amount of debt? I realized that taking out student loans had become so normalized in my mind that it didn’t feel like a big deal at the time.

Taking Responsibility

I took immediate action, draining a large portion of my emergency fund to pay off the debt. I also informed my blog readers about my mistake, owning up to my error. This experience taught me a valuable lesson: that there is a privilege in not having to put so much weight on the idea of being debt-free.

Rethinking Debt

Throughout my journey, I had internalized the idea that debt was intrinsically bad. While this belief motivated me to pay off my loans quickly, it also led to judgment and pressure on myself. I realized that debt is simply a part of the cost of my education, and it’s not inherently evil. This shift in perspective allowed me to approach debt with a clearer mind and less emotional baggage.

The Power of Emergency Funds

This experience solidified the importance of having an emergency fund. It gave me the confidence to handle unexpected expenses without feeling anxious or overwhelmed. Having money set aside changed the game, providing me with a sense of security and control over my financial life.

A Newfound Appreciation

Looking back, I’m grateful for the lessons I’ve learned. I’ve come to appreciate the value of proper financial planning and the importance of being in control of my money. While paying off debt is a significant accomplishment, it’s not the only measure of financial freedom. True freedom comes from having the confidence to handle life’s unexpected twists and turns.