Thursday, March 20, 2008

Grateful for my debt

The more I read about other’s financial situations, the more grateful I am for my own. One of my favorite bloggers owes less than I do in student loans, but their interest rate is 3% higher than mine, and their minimum payment is $400+ per month. Mine is $70 right now, will go up to $150 in November. I can’t imagine making a $400+ per month payment just on my student loan. It would definitely change my way of life. And my car payment is only $170 per month. Some people have 300 or 400 or 500 a month payments. The only thing I don’t always feel grateful for is the house payment. But then again, it is $1000. Some people have $3000 or $4000 a month payments. I don’t know that hoping for something less than $1000 a month is realistic, given our situation (little down payment) and our preferences (multiple bedrooms and land). Of course, I also cringe when I read about people making 2 or 3 times what I make, and not being able to make ends meet. It all comes down to choices. I am glad for the ones I have made, and I am glad for the blessings that I have received as I try to make things right again.
I stumbled onto a new blog, and I think she has many of the same thoughts as I do. My favorite paragraph from her recent post “Too Much Debt” is
"Basically, it all boils down to too much debt. It’s like a long weekend
fifteen kegger frat party, and now it’s the first day back to class and everyone
is waking up with a hangover. Instead of admitting to drinking way too
much, everyone is saying it must have been because the beer was so
cheap that they are hung over. Instead of admitting too much debt is
the problem with the American economy, people say it’s the housing bubble and
subprime mortgage contagion that is spreading.”
Amen sister! I can’t tell you how many times people used the “bad booze” excuse in college, instead of admitting that maybe they had a problem and drank too much. My name is Becca, and I have TOO MUCH DEBT! There, I said it. Isn’t the first step admitting the problem? The more I read, the more I like this girl. She is going on my list.

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