I am miles away from being able to pay back all of my student loans. One of my goals is to start getting this situation under control. It
would be easy to focus on the more immediate goals I feel
confident in reaching, while sweeping this one under the rug. My stomach hurts, my pulse races, and I start to sweat when I think about all of the money I owe. This is compounded by the fact that I had to leave a steady job when my family relocated and now am unable to find work. But doing nothing isn't going to get me any closer to paying them off. So today's Simple Step is to......
Create a set of folders for school loans (or other debt)
(Just making folders today - not putting anything in them)
My focus is on school loans, but this should work with any kind of debt. Once I start making files and folders, I tend to be very specific about content and order. It will not help to just have a folder labeled "school loans" or "medical bills" or "debt". That will just become a warehouse for papers and not achieve much. I hope to organize either by lender or by amount intervals; loans under $1000, loans between 1K and 5K, and loans greater than 5k. This will allow me to see where I should start in the payment process. Also, having a level of organization in place will be useful when I finally am in a position to contact the lenders about repayment.
Special Note: I am EXTREMELY anxious about debt. I will generally not answer the phone when lenders call as I am quickly and easily reduced to tears and anxiety attacks that leave me unable to cope with conversations, interpersonal interactions, even simply being in the room with other people (these can last from a few minutes to a few hours). Taking ANY step towards addressing my debt is likely to leave me feeling icky inside.
I shouldn't feel ashamed; I earned top grades in college, receiving awards and scholarships, and was selected into an elite post-college teaching program. I worked incredibly hard at excelling at my job as well as attending to the needs of my family and home. I don't use credit cards, I don't shop for fun, I don't spoil myself. No one who knows me would say I live a lavish lifestyle. I haven't purchased a television in over 10 years. I get my hair cut once a year. When I buy new clothes, I do so at thrift stores. I bake bread and make lunches. Eating out, a movie, bowling, etc are the types of things that happen infrequently.
So why am I still in debt? It takes a lot of money to support a house and a child every month. Added to that is the cost of paying off and maintaining our one car. Life is simply expensive and not getting any cheaper.
REFLECTION: