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Tag Archives: debt is not forever

How I Got Into Debt

There was a time when I thought it was normal to be in debt. As I finished school and entered the work force, I believed it was normal to sign up for the debt club with a new mortgage, new car, and all the trappings of the lifestyle people told me I needed. Eventually, debt lost it’s glitter, and it took control of my life. I’m here to tell you how smart people get into debt by spending too much, believing in good debt, getting approved for too much credit, and thinking that making payments means you can afford it. Later this week, I’ll tell you how to stop the cycle because debt does not have to be forever. How I Got Into Debt People only get into debt one way, by spending more than they earn. My initiation into the debt club came on my first day of optometry school when I picked up my first ever student loan check to pay tuition. Since my income was zero and I’d just spent $10,000, I got immediate silver status! Fast forward four years, and I graduated with a really nice diploma, a residency position that paid $25,000 a year, and ...

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