Thursday, February 25, 2010

Where in the World is Suzie Orman

You have an idea. You write out the logistics. You make a decision. You plan to succeed.
Sometimes you fail.
I failed.

This may or may not be my debt story.
I don't exactly know the correct etiquette when it comes to talking numbers and accrued debt, but hey we are all pretty much best friends now so it's about time a take you inside the Ms. J's did-you-really-think-that-was-possible-you-might-want-to-consider-being-a-realist-world.

These words may have come out of my mouth at one point in my life:
"It's perfect, I will have little to no debt before we get married!"

Silly, Ms. J.

Although there is no regret in my decision, I may be a little off track.

My story might go something like this....

9 months of community college: $5,000.

$555 paid monthly.

9 months of putting up with jokes about community college.

9 months of defending community college.

Remaining balance: $0.

9 months of Out-of-state college: $18,300.

Achieved in 9 months:

3 loans.

1 indecisive student.

3 different majors.

12 classes.

6 amazing girlfriends.

1 bridesmaid.

Aka: Paid $18,300 for friends.

They are worth every almost every penny.

I love them, but that's a lot of pennies.

A decision was made:

No more school.

No more debt.

Follow passion:

Become a nanny.

Pay off debt.


1 amazing nanny job.

2 awful nanny jobs.

15 months of payments.

1989756765 more to go.

Underpaid nanny.

Monthly minimum payment.

Total Paid: $5,042

Hopeful loan balance: $13,258

Actual loan balance: $17, 100

$1,200 towards loan.

$3,842 towards interest.

1 frustrated girl.

Mr. B proposed towards the end of my Sophomore year of college. In just two years I had not only changed schools 3 times, I had also changed my major 3 times. It sort of made sense, a new major for each school. Wasn't exactly my intentions, but it worked out that way. By the end of my Sophomore year I had done Liberal Arts, Communication Disorders and Elementary Education. Believe it or not, I knew what I wanted to do with my life. Seriously. It just so happened that school or these majors wasn't part of that. I wanted to be a nanny, then a stay at home mom, then have a small in home daycare. What I really needed/wanted was a homemaking degree. Not only did I change my majors, I took core classes in each of those majors and no gen. eds.

Silly, Ms. J.

NOTHING transferred.

It appears as though I wasn't thinking properly. I may have been lacking in the intelligence department. I agree, but I promise I was a smart girl. I graduated High School with High Honors and I even got all A's in college (even at the out-of-state college in case you were thinking well duh it was community college and if you weren't I apologize for my assumption, like I mentioned I learned to defend). Anyways, while in school and hating my classes, I would see ads for nanny positions offering $700-$1000 a week, the whole sha-bang: the car, the health insurance, the traveling, the paid time off etc.

Um...hey genius, why are you in school when you can be making MORE than a teacher and not have the crazy amount of debt from school??

Little guy on my shoulder was right.

With much prayer and consideration, Mr. B and I decided that it would be best for us to stop putting ourselves more in debt with my college loans. I would pursue my dream job, pay off the loans in just one year before we got married, become a stay at home mom and eventually have my daycare.

Oh, hello reality. What's that? I will actually be the family's servant? I will be underpaid and hate it? My planned weekly income is actually my monthly income? I won't make enough for us to live, let alone pay off my loans?? I will keep paying for my loans and they keep growing?? It will be like digging a hole in the sand by the water??

Um...Suzie Orman, I think I could use some help over here.


Lori said...

I can totally relate! It gets so frustrating, and depressing to "try" to get those big payments paid off with all that interest lingering over your head as well!

I hope that we can both be debt and stress free soon!

Margaret said...

Oh we're in a similar boat. We're trying to pay down debt and school loans. Its frustrating that a lot of our paycheck goes towards our debt. But at the same time, I'm happy we're able to make the payments and I do see a light at the end of the tunnel... I'm just not sure how long this tunnel is!

You guys will figure it out. You will be debt and stress free soon! Just keep at it!

Jagged Little Life said...

I DEFINITELY know where you are coming from. I got a student loan somewhere around $20,000 four years ago... with high hopes that I would be making a generous income to pay it off when I graduated. I graduated 6 months ago... and I have to start making payments in a month!! However, I graduated in the worst economy... and did not get my dream job, or even a higher paying job then I had while working my way through college (as a nanny haha). Stupid recession! AND DEBT!!!

New Mommy!!! said...

I never finished college so I cannot relate. I have an associated degree from a community college, but thankfully, my parents were able to assist me with the cost.

It must be hard to find your ground with all that debt. Awful.

I thought your post was funny and cute though, as funny as discussing debt can be. Ha!

Mrs. Hesson said...

I am SO confused on this Friday Follow thing that I saw on your blog. I made a McLinky account and now have to no idea what to do. Help! :)

Meant to be a mom said...

I did the same thing you did. Went to college, waisted my parents money for years only to realize I wasn't even going to get my basics done. That only took me almost 4 years and a full time Job, getting married and settling down to realize. I finally quit and stopped waisting all my parents money. But I really do wish I could finish one day.

By the way, You can move here and become my nanny =)

I hope you get your debt figured out. Trust me we have a ton. I've decided to pay on it each month and just pretend its not there. What else can I do. I'm not falling into a Vat of money anytime soon.

Ronda said...

I think this may be another post where you could add "Mom & Dad, you were right" LOL
But one thing that I am confident about with you & Ben is you are both very responsible and frugal and will do whatever is needed to dig out and become debt free :D We will help with the ocassional free meals and free vacations!!LOL
BTW ~ cable is back!! Whoohoo!!