Sitting here thinking about my debt and I am thankful Jesus paid it all. Jesus forgave all our sin, transgressions, and debts when He died on the cross.
However, that does not make it fruitful to continue to live in debt, in sin, and continue on transgressing. In my case packing on credit card debt.
OG Kanye West said it best in "All Falls Down" “I wanna act ballerific like it's all terrific I got a couple past due bills, I won't get specific I got a problem with spending before I get it we all self conscious I'm just the first to admit it”
Now I do not have any past due bills, but I have bought before I had something. I have wanted some outfits for the new season and used my coupons and charged it.
I think back to why I have credit card debt in the first place. My first credit card was an Old Navy store credit card. It began with just a 500$ limit. However, over time the limit increased as I used the card and paid it off. My credit score was increasing and I had a GREAT job.
It was all good until I wanted gastric sleeve. Insurance was not covering my surgery so I used my credit. I have no regrets from this whatsoever. Actually I woke up one night after being rejected by my insurance upon appealing the surgery to an extended credit limit.
But now what? 5k later and a monthly bill that is through the roof. I can’t keep living the same way with a high credit bill on top of my other expenses.
Welp, I downsized and downsized some more.
I just have a few basic tips for anyone who is living paycheck to paycheck. This is not an idea lifestyle for me. I was accustomed to putting a minimum of 200$ into my savings each check. However, I am now spending each biweekly check.
Open a savings account
If you have a credit union automatically deposit a percentage of your check into that account.
Sign up for credit karma. Please be aware of your credit score.
Possibly, consolidate your loans.
Get rid of those recurring charges. They add up
Pay off your cell phone. Own your phone. Lower your monthly bill.
Eliminate a gym membership.
Buy groceries and actually eat them.
Just say NO. The party will always be there.
Sell some clothes or old appliances.
Get a second job. Utilize your skills to become self employed.
The last one and the most important one for me is tithing. Send your 10% to the Lord and pour into the place that is feeding your. The fact that I have been a faithful tither has allowed God’s s grace to be sufficient during my season of debt.
I have found random gift cards. Random gas cards. People often buy my lunch. The generosity of others have allowed me to be comfortable during my season of debt. That’s the thing it is JUST a season.
My prayer is that young adults take control of their expenses now. Use coupons when shopping. Use price matching when shopping. Stick to a strict budget list when grocery and essential shopping. Start to buy in bulk rather that go spend more every two weeks. Limit your nights out and spend time at home. Limit any recurring charges. If you have a bill like a cell phone try and pay off your phone to lower the actual bill. Make selling your clothes, old shoes, or appliances fun. Start a IG page or even sell to a consignment shop. Use your gifts and talents to build revenue and also build your brand. Start a side hustle or get a part time job. Always always put God first and remain a cheerful giver.