My Journey to Paying off College Debt

My personal goals and direction in life have change since my college years. I am very glad I went college, yet I went because “the world told me to”.  I was caught up in the rat race.  It wasn’t until a number of years afterwards until I saw the direction I truly wanted to goal.

For example, One reason I love college is because I met my wife at this campus. Yet, I did not know she would be my wife until ten years later.  My priorities were different in those days.  They were listed from Our Lord, to Boys Scouts, Video Games, Food, School Work, and Girls were at the bottom.

College did teach meet responsibility and how to learn. The degree that I earned, I have been unable to use to it's potential do to a physical disability of mine. I have epilepsy. This condition limits my career options, and other lifestyle choices.  For example, I am unable to drive, and unable to be with my child alone for their own safety.  Yet, it was something I was once angry about, that now I have accepted and it has help me grow into a stronger person.  I have had this condition since I was in second grade. People had many times told me that I could not accomplish a goal.  Yet, I went out to reach those goals sometimes to show that I was able to.  Over the years, the people around me now look up to me.  I haven’t had someone tell me I can’t do something in years. I also hang around a new type of crowd, one that motivates my life.  My associates are my new friends, people I listen to on audios, and authors I read from books and blogs.

I work in promotion of home improvements and work online from home.  My dreams have changed over these years now that I have a family. I once had a dream of being a wealthy bachelor, living free all over the world. Yet, now I would never want that.  I have a beautiful wife, and three wonderful children. My goal in life is to give my family what I was denied as a child. I want them to have a “Strong United Family”. This can only happen with me taking role as Husband and Father. I feel that if my dream is material or a career, my family will fall apart. Yet, God promised us to put him first, and what we need will always be there.

This journey was long and tough, but it was SIMPLE. My first goal was to get out of debt. So, “I spent less money that I brought in.” The reason this was tough because I wanted so many material possessions that I couldn’t afford at the time.  Yet, I fought the urge and lived the “Ramen Noodles” life for almost 4 years right after college.

I had a number of debts from college, or regrets like credit cards. But the way I paid them all off was by first creating a budget sheet for every month. I always paid the minimum of every bill I had and still lived a low life-style. Because of this, no more money was going onto credit cards, and I could now pay them off.  So, the moment the first card was paid off, I didn’t view that money as extra cash flow. I just moved the monthly payment from the first card to the second lowest bill.  It would be the next to be paid off, thus creating more cash flow that I could put into paying off creditors.

After a few years, I finally had all my cards paid off and had the money to start paying the principle of my student loans.

I recently just paid them off, yet it feels like I got a huge pay raise.  It feels so good.  I also realized that I was looking at it from a coupon clipping point of view.  I should have said, "If I needed a $100 dollars to pay off a bill, How can I make another $100?" 

I later realized that I could increase my income, instead of just decrease my spending, by creating extra income streams like what I am doing now. Saving is a great method, yet building my Asset column is what I realized I needed to do. I wish I did this a long time ago.  I am just glad I went through this learning curve before I got married.

“If you think you can or can’t, your right” – Henry Ford

“A Dream without Action is just a Wish” – unknown

These are two strong quotes outside the Bible that have always had a strong push forward on me. I heard them about ten years ago. I realized that my life is mine alone, yet my choices effect all those around me, and I will create my own destiny.

My Thoughts → Actions → Habits → Character → Destiny. If I don’t like the direction that I am going, I DO have the power to change it.  I have to change the way I think. In my college years, I struggled with Depression, and it took a hard role on this model. Yet, a professor, named Jack, who became a friend and mentor helped me see that my life isn’t determined by my circumstances.

I am very happy now. I still use a monthly budget plan, and now my goal is my family’s future. So as Robert Kiyosaki said, “To create Wealth, Invest in Assets not Liabilities.”

It’s that simple. Remember that Time is your most valuable Asset. We can make and lose a $1,000,000 and remake it again.  Yet, Yesterday we will Never have again.

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