@willowsbible Millenial here. This hit me hard.
When I was 19, I moved out of my mom’s house. Wasn’t a very good relationship, so I was eager to leave.
I enrolled in a community college, with plans to transfer to a four year school. I didn’t know what I wanted to do, but I was pushed in that direction anyway.So I just picked something and studied it.
Even though tuition was covered by grants, I took out a $3000 student loan so that I could pay for basic transportation, books, and housing.
I lost my job shortly after the semester started and only had the loan money to live off of for a while. Stupidly, I figured since I was in school, it would be better to focus solely on school anyway.
I made it through that semester - only barely! I was the brokest I had ever been. No more loan money, no job, savings drained, CC maxed. I applied to literally hundreds of jobs throughout the semester, since I know it takes employers half a freakin’ decade to even look at your application. I went in person, only to be told to go online and apply. But when I applied, it’s was as if I was throwing my resume into the void.
I enrolled in a second semester, knowing I’d get about 1k back. Not much, but it would be 2 rent checks. I used to go out on dates just so I could get a free meal. I stole toilet paper from the school restroom. I was literally Felicia from Friday. And it sucked.
So I dropped out of school. I felt like a failure. But bills needed paid. I finally got a job as a home health aide, and busted my butt trying to get my head above water.
I finally started to get ahead after months and months of working 60-70 hours a week. I hated every minute of it. But it helped me pay of my CC, build a small cushion (1k), and prepay my rent for a few months (which I’m glad I did, since clients in home healthcare sometimes pass or are moved to a facility).
Oh, and remember that 3k student loan? It took me five years to pay off because money was needed elsewhere. I wasn’t frivolously spending, I was that far in the hole.
Luckily I never took a payday loan out. I definitely considered it though, but thankfully, the guy I was dating at the time had strongly advised me against it. I had no idea how easily it could ruin someone.
If I would have had more financial knowledge, I wouldn’t have done any of this. I’m just now starting to recover financially, but I still have a way’s to go.