Financial Advice

Financial Friday: USAA Credit Card and Loan Debt is Paid

 

 

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I’m debt free!!! Well, with USAA I am. I made my last credit card payment with them on May 31 and it just now hit my account. I cannot be happier. I owed them a total of $5,000 in credit cards and a personal loan. I have paid off and closed all accounts. I feel so much relief have one less debt. Now, all I have left is my car and student loans. That’s it.

Next, I’m going to tackle these student loans. If you are new to my blog, I am a single mom on a debt free journey. As of June 4, 2018, I only have student loans and my car to payoff and then I am officially out of debt. Along this journey, I will be sharing what I use to stay on top of my finances. I am not a financial advisor, coach, consultant or guru. I am just using what I learn to get me out of debt in order to retire early and give my son the best life.

Setting goals is important on this journey as well as budgeting. I’ll soon be selling budgeting products in my shop, so stay tuned for that.

Financial Advice

Financial Friday: Cut Expenses, Add Hustles, Getting Out of Debt

I have been on a “kicking debt’s ass” journey for the past couple of years. I am so determined to be out of debt at 30 and so far, I am on the right road. In the past couple of years I have paid off a credit card ($2500), a personal loan ($3500), the IRS ($500), medical expenses ($200) and as of this month my teacher certification program ($400). Altogether that is $7,100 in two years. That may not seem like a lot to those who have paid off more, but for someone with similar debts as myself, that is a lot, especially considering my main sources of income.

If I still lived at home, I would be halfway through  my loans and my car would be paid off, but life happens and circumstances arise. How did I pay off these debts, you may ask? Here are somethings I did and somethings that others I know have done:

  1. Cut my cable and got an Amazon Fire Stick. It is the best decision ever. I was late to the game, but better late than never right? I know many people who have taken this route and noticed how much money they were spending on cable.
  2. Meal prep and cook at home more. This is a huge thing to cut money and to cut weight, being that we are the fattest country in the world. Meal prep saves you from cooking during the week and from putting on those extra pound.
  3. Upwork is a freelance site that I use to ghostwrite, edit novels, papers, essays and so much more. There are all kinds of freelance jobs on there from virtual assistant to graphic designer. Find your niche and get to work.
  4. GrubHub, DoorDash, UberEats and Postmates are other ways many millennials are making money. They’re like Uber and Lyft, but for food. Someone orders food, you pick it up and deliver it.
  5. Kick your Starbucks habit. I would be afraid to see how much some of you spend on Starbucks in a year and I am sure y’all are too.
  6. Apply for odd jobs like dog walking, babysitting, personal assistant, in home cleaning jobs, etc.
  7. Buy clothes from thrift stores and secondhand shops. $300 purses and shoes are not necessary and will not add value to your life.

There are so many ways to save and make money to get out of debt, you just have to be willing to make sacrifices.

Other Financial Posts:

Financial Friday: Minimalism Saves Money

Money & Health (plant-based living)

Financial Friday: My Plan To Get Out Of Debt

Financial Friday