Tag Archives: debt calculus

I will learn to live within my means.

I am in debt. It makes me feel like I owe people, which, I guess, is a realistic way of looking at it.

Lets tabulate the damage.

Private Student Loan: $27,509.52 at 10.25%
Federal Student Loan: $19,877.88 at 4.875%

Credit Card #1: $3,598.30 at about 6%
Credit Card #2: $1,351.04 at about 11%

I do not know the exact rates on the cards off the top of my head. I will update this when I get the next statement in the mail.

The total damage is $52,336.74. The credit card subtotal is $4,949.34.

This puts my debt at about $2,000 higher than it was when I graduated college two years ago.  This scares me, in part because I assumed that I would be very responsible when I finished college. Clearly, I have not lived up to that expectation.

I have long known that the debt is a problem. But it was mostly student loan debt, and when I accumulated credit card debt, I was able to pay it off within a few months. But this past year or two, despite my faithful reading of personal finance blogs, I have managed to accumulate more and more credit card debt.

This blog will be about where this debt came from, why, how, and how I’m getting rid of it. I will be focusing on the credit cards. Because this debt is a symptom of many larger issues that I have, a lot of other topics will be addressed.

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