Hoping to be twenty three and debt free

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I feel like I’ve never been good with money.

I’m an accountant (working towards it) for goodness sakes! How can I be good with other people’s money but not my own!?!?

A few weeks ago, I heard about a newspaper article entitled “What I’d tell my 20 year old self about money”, which lead me to the blog. Her writing, attitude and accomplishments are admirable.

Since then, I’ve read a number of posts on Cait’s blog, as well as other blogs and read, “It’s Your Money” by Gail Vaz-Oxlade.  These resources combined have given me the courage to take over my own finances once and for all.

I’ve been working full time for about 5 months now and have almost nothing to show for it. I’ve paid off my OSAP, around $6,000- but that’s it. The last payment I made was in January- but since then- nothing. I have very little money in my account but nothing to show for the two months of paychecks – except the trip to the Dominican in May (which I really couldn’t afford- but bought anyway). The look on my mom’s face when I told her I haven’t been paying off my loan for the past month… she didn’t even have to say the words. That’s how I knew I had to get serious about this.

The main reason- the motivating one, why I want to get out of debt ASAP is so I can move out of my parents’ house. It just makes sense: this is the best and easiest time to get out of debt. Living rent-free is a blessing and I should use this advantage to its fullest.

Here is my breakdown as of today:

Student line of credit: $10,796.73

Credit card: $ 50.97

Total Debt: $10,847.70

This is it. This is the time… The time for me to be debt-free while I’m

still 23.

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