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For the first time in my adult life at age 29, I& #39;m officially debt free of everything after paying off my last school loan this week: School loan, car, credit, etc.
It& #39;s a faux pas to talk about money, but it& #39;s important people hear other& #39;s mistakes so they can learn.
A thread:
It& #39;s a faux pas to talk about money, but it& #39;s important people hear other& #39;s mistakes so they can learn.
A thread:
1) I am in a privileged position to be able to post this:
This would have taken me another 5-10 years if I had not gotten the opportunity to work in esports (high school teaching salaries…), and even though I’m proud of what I’ve accomplished, there was a lot of luck involved.
This would have taken me another 5-10 years if I had not gotten the opportunity to work in esports (high school teaching salaries…), and even though I’m proud of what I’ve accomplished, there was a lot of luck involved.
2) Everyone’s situation is different, and it’s a work in progress for everyone. What I’m doing isn’t the “right” way, I just want to help one person somewhere avoid one mistake to make their life better. Learning from history is fun after all. 
https://abs.twimg.com/emoji/v2/... draggable="false" alt="😎" title="Lächelndes Gesicht mit Sonnenbrille" aria-label="Emoji: Lächelndes Gesicht mit Sonnenbrille">
3) School loans / college education costs in America need a severe restructuring. It’s not sustainable, and we’re currently seeing the issues of people over the past two decades who are stuck under a mountain of debt for a decision many made at 18.
4) I personally wish I went to community college for 1-2 years because I didn’t know what I wanted to do initially, and it would have saved me $30,000. This isn’t for everyone, but it’s worth looking into depending on your priorities.
5) I learned a lot about my mental health in college. I let my anxiety tank severely, and it cost me significantly mentally + financially. Take care of yourself, do therapy if you need it, and take your time. Affording therapy can be a struggle in itself. That needs to change.
6) It’s okay to take a semester break from school if you need it. It doesn’t matter what the reason is if it’s severely having an effect on you, it’s valid. You aren’t a lesser of a person for doing so, and you’ll still be on track for life.
7) Don’t blow a bunch of money the moment you get a new job. I spent a couple thousands dollars on shoes when I joined esports (classic). Instead of buying like 10 pairs of shoes, I could have just bought one or two pairs and it would achieve the same result.
8) Emergency funds are your best friend when you start a job and are able to start saving your first bit of money. Pick an amount that covers a month or two of expenses and go from there. I postponed paying loans in order to feel safe by having my emergency fund.
9) Taxes. Spend a little time and learn how taxes work, especially if you’re an independent contractor. My first time I did taxes by myself I thought I was going to pay a little, and I was very, very wrong. https://abs.twimg.com/emoji/v2/... draggable="false" alt="😓" title="Gesicht mit kaltem Schweiß" aria-label="Emoji: Gesicht mit kaltem Schweiß">
10) Make a budget! I hated doing this initially because it made me face my lack of money, as well as face where I spent too much money. After I got over that, it did wonders for my mental health to have a rough idea of when I could pay things off.
11) Set aside some money in your budget for fun things. Food, vacation, material items, whatever sparks you joy. Paying off debt can take a while, and if you don’t cut yourself some slack and reward yourself here and there, you’ll drive yourself crazy. Just keep it reasonable!
12) Physical health / medical debt. Leading cause of bankruptcy in the US is because of medical debt. No tips here, the healthcare system in the United States is absolutely busted, and people should not be financially ruined for the majority of their lives due to being sick.
13) No matter where you’re at financially, be kind to yourself.
Capitalism has a way of making you feel like no matter where you’re at, it’s never enough, and your worth is determined by having more.https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤮" title="Spuckendes Gesicht" aria-label="Emoji: Spuckendes Gesicht">
Thread done ~
Capitalism has a way of making you feel like no matter where you’re at, it’s never enough, and your worth is determined by having more.
Thread done ~
