By now most of you know that I have a lot of debt that I’m working on paying off. I managed to get it under $70,000 last year which was a decent start. When I tell people that I’m paying off my debt I get some crazy responses sometimes. I’ve heard that it’s not possible to pay it off. I’ve also been told that I only need to pay the minimum because I will have debt forever. When I hear stuff like that I choose to simply ignore it. In today’s post, I share with you the reasons why I’m paying off my debt.
Having debt is something that has become very normal in this country. I don’t want to be normal. There is nothing cool or fun when it comes to owing companies thousands of dollars. I want to eliminate this debt so that I’m not considered normal anymore.
Tired of Sallie Mae
Luckily, I’ve been able to make my monthly payments to Sallie Mae (Navient) for a while now without any problems. I haven’t received any harassing phone calls from them during this time, but I can remember when they used to bug the hell out of me at least 5 times a day. I still get a monthly statement from them and honestly, I can’t wait until its history. I dislike Sallie Mae so much that I’ve come up with a t-shirt design to show people how I really feel. Check it out here. It’s an update from the design that I tried selling last year. If you decide to purchase one I would be happy. The proceeds are going towards my debt repayment.
Not Able to Save or Invest that Much
With all this debt that I have, I’m not able to save or invest that much money. I’ve made it a point to save a lot more money this year. I increased the amount of money that I’m saving from each paycheck. I also need to learn more about investing. If you have any beginners investing tips please share them with me.
Traveling is very important to me. It truly is my anti-drug. When my debt is eliminated I will be able to do more of it. Besides completing another cross-country trip, I would be able to visit other destinations such as Hawaii, Egypt, and Rio de Janeiro. It would be much easier to book those trips without having to worry about paying my debt first.
Do More for my Family
Without my debt, I’d be able to do more for my family. I’d also be able to assist them with paying off their debt if they needed it. I’d also be able to pay for a family trip by myself. This is something that I’m looking forward to.
Show others it Can Be Done
The final reason that I want to pay off my debt is to motivate and show others that it can be done. Once the debt is gone I want people to realize that if JB from Atlanta can do it then so can you! I know that this won’t be the easiest task, but I’m ready to make it happen.