My Personal Debt Story

Curious about how I found myself with $40,000 in debt? Check out my personal finance story.

This blog post may contain affiliate links. Any revenue made from these affiliate links goes directly to the cost associated with running the Penniless Prairie Girl blog.

Welcome to my new personal finance blog!

I have never been good with money.

No one ever taught me anything about personal finances. As a kid, while my little brother would stash away any birthday or Christmas money, I always had to spend mine. There were just so many things I wanted! It was FREE MONEY! Why wouldn’t I spend it?!

Related: Teaching Your Kids Personal Finance

My Personal Debt Story

I have been in debt since I was 16 years old. At the age of 22, I finally decided to take control of my future.

How I Found Myself with $40,000 of Debt.

After years of working dead-end jobs, I decided it was time to take control of my future. I sat on my couch with a (BIG) glass of wine in my hand and a laptop in my lap and began the process of applying for university. I had no idea what I wanted to take in university, I just knew I had to find a stable career with no shift work and a bigger paycheck.

At the time I was terrified to apply; however, it turned out to the one of the best, albeit expensive, decisions I had ever made.

Student Loans

I began taking Business Administration classes September of 2013. After discussing the decision with my boyfriend, I decided not to work while going to university. I had always struggled with school and I wanted to be focused on doing well in my classes. I also wanted to give myself the opportunity to get really involved in my faculty (which I did). This was a very costly decision but one I do not regret.

While my boyfriend did support me financially in a number of different ways, I still had to rely on student loans to get through 4 years of university.  My tuition was covered with a combination of federal and provincial loans and I received a monthly living allowance of $700. Despite having help from my boyfriend it was still a struggle to live off of only $700 a month. I often ended up racking up balances on my credit card.

Related: My 2016 Net Worth Report

My Mission

This leads me to now. I have a Bachelor degree in accounting, a stable job in the Tourism industry, and I am $40,000 in debt. This is a combination of student loans, a line of credit for my car, and some minor credit card debt (thank you, Christmas shopping).

I have made it my mission to defeat this debt in the smartest and quickest way possible. For the first time in over 10 years, I will have no debt (hopefully)!

Please join me on this journey. Maybe you will learn something new!


Are you just starting your journey to get out of debt? Let’s be friends! Leave a comment below.

6 Replies to “My Personal Debt Story”

  1. Great post Amanda. I am also on a debt free journey, just started this month. I will be posting updates on my blog as well. My first post will be up this Wednesdays! Hopefully we can encourage each other. Thanks for Sharing!

    1. Hi, Keoshia! I am always looking for other new bloggers to collaborate with. Definitely keep in touch. I’d love to help promote your content so we can both grow our following. Can you send me a link to your website? Looking forward to reading your first post!

  2. I can totally relate !

  3. Great story! We just paid off over $40k in debt! You’ve got this, girl! Omg tally going to follow you on your journey!

    1. Thank you for the support! And congratulations on paying off your debt! I can’t wait to make that final payment on mine. It will be a really happy day!

Leave a Reply

CommentLuv badge