View Single Post
Old 10-06-2012, 07:19 AM   #3
kNIOKAS
Medium Rare
 
kNIOKAS's Avatar
 
Join Date: Jun 2007
Posts: 5,121
kNIOKAS is the Michael Jordan of posters with the best reputation imaginablekNIOKAS is the Michael Jordan of posters with the best reputation imaginablekNIOKAS is the Michael Jordan of posters with the best reputation imaginablekNIOKAS is the Michael Jordan of posters with the best reputation imaginablekNIOKAS is the Michael Jordan of posters with the best reputation imaginablekNIOKAS is the Michael Jordan of posters with the best reputation imaginablekNIOKAS is the Michael Jordan of posters with the best reputation imaginablekNIOKAS is the Michael Jordan of posters with the best reputation imaginablekNIOKAS is the Michael Jordan of posters with the best reputation imaginablekNIOKAS is the Michael Jordan of posters with the best reputation imaginablekNIOKAS is the Michael Jordan of posters with the best reputation imaginable
Default Re: Credit Card Debt FREEDOM!

Quote:
Originally Posted by sundizz


Anyone else want to share their stories? I want to climb a mountain, pull up one of those foldable chair thingy and just chill and sip some champagne or something. Damn it feels

Story:
-Idiot in college and first year and a half after graduation. Credit card companies kept giving me cards and I kept taking on new ones. Between 18 and 24 racked up $35,000 on these cards:
Citicard: 9,000
BofA: 3,500
Care Credit: 4000
American Express: 2000
Lending Club: 12000
Credit Line: 4300


Expenses (18-24) approximations:
Trips:
Vegas 7x, Colorado and Utah skiing 2 weeks, Rosarito/Tijuana 10x, Cabo San Lucas 7 day, Panana City 7 day, Ireland, Amsterdam 10 day, Cross Country Trip Cali to Atlanta
4200+2000+1500+1200+1000+1300+2000 = $13,200

Drinking:
6 years X 52 weeks X 2 nights a week X 40 a night = $25,000

Eating
6 years X 52 weeks X 7 days a week X 15 a day = $33,000

Entertainment, clothes, etc (minimal):
6*12*200= $14,400

Lasik
= $5,000

Total ~ $90,000 for 6 years of life, not including rent and other normal expenses.

For years 24, 25, and 26 I decided to pay off all the credit card debt. I am not FINALLY DONE! I have ZERO credit card debt. It's insane. I still have student loan debt...but it's not debilitating. That can be managed. Good repayment options, etc. Paying off credit card feels so ridiculously good =) Was able to pay it all off and by the end of my work contract I'll have saved up 20k on top of it all. Chump change for ISH, but a dramatic turn around for me in a reasonably short time, without sacrificing any sense of lifestyle. Simple choices of drinking earlier and less, and not spending insane amounts on food everyday are basically all I had to do. Also dropped 30 pounds during this time. Another win =)
You are not finally done?

Congradulations, stupid.
kNIOKAS is offline   Reply With Quote