It’s Okay to Be in Debt, Just Not Okay to Stay in Debt Story

It’s Okay to Be in Debt, Just Not Okay to Stay in Debt

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While getting into debt was not ideal, I don’t regret any of it, and thankfully we had the financial means to dig out. I know not everyone is as fortunate. Regardless, this is our story.

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Going Nearly $200,000 in Debt

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I had managed to save a few thousand dollars more over the years from my job, waiting tables and bartending in college. So at age 25, I had no debt and a decent amount of money to start my life.

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If I could do it all over again, there are things I would do differently. Regardless, by my 30th birthday, we had managed to accumulate nearly $200,000 in debt. How did this happen?

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First was the newer car “needed” since I had a better-paying job and could afford it. That, of course, came with a five-figure loan.

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We purchased my grandparents’ old house shortly after my grandmother passed away. We are still spending money renovating this house ten years later.

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The house was purchased below market value though we still ended up with a $100,000 mortgage and a home that needed to be completely renovated.

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And last but not least, we ended up buying a lake house with family. And yes, we went in on the lake house purchase already nearly $200,000 in debt.

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Drowning in Debt

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It’s Okay to Be in Debt

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Swipe Up To Learn More

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