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My Journey to Financial Freedom | Part 1: The Fall

fleurs // livelovesimple.com

Three years ago, I was nearly $60,000 in debt. I had a Bachelor’s degree that didn’t appear to be worth its weight in salt and a job that couldn’t cover a fraction of my monthly bills. I was terrified.

Today, I am closer to complete financial freedom than I ever dreamed possible. Last week, I paid off my last remaining credit card balance. This two-part post is a celebration of this incredible milestone in my journey.

In part one, I will explain how I got to that terrible place. In part two, I will explain how I’m getting out of it (and how you can do it, too).

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A financial prison is the worst sort of prison to be stuck in. A financial prison does not have steel bars or a prison warden. You will not get sent to financial prison for committing a crime. There is only one person that can sentence you to financial prison. That person is you.

There are two primary types of financial prisoners:

1. There are those in financial prison who got there because they truly did not know any better. This type eventually realizes the error of their ways and breaks free.

2. There are those who knowingly commit themselves to financial prison. This type is well aware of the consequences of living beyond her means; but she does it anyway.

Of course there are also those who fall somewhere in the middle, like me… (Cue dream sequence.) It all started when I was 18. The guidance counseling systems in my high school and college were either completely inadequate or I simply refused to pay attention. I can’t honestly remember which it was, though I think it was the former. Either way, I was screwed.

Before me, no one in my family had ever been to college so I didn’t receive much advice. I was thrilled to be out of high school and ready for the next step. I took my SATs one time and applied to one school. My parents, being average folks, made just enough money to prevent me from receiving financial aid; but not enough money to be able to pay my full tuition. For me, this meant loans: “lovely” student loans from “lovely” Sallie Mae.

My mother co-signed and it was a cinch from there. Each semester I filled out a relatively simple form and like magic, Sallie Mae sent me a check. In fact, Sallie Mae was so generous that they allowed me to take out as much “extra” money as I needed every semester. It was fantastic! Yes, I had money to pay for books, meals, and extra curricula. I also had money to go out and binge drink, buy clothes I didn’t need, designer purses, and more. Sallie Mae was wonderful to me. And the best part of it was that there was no need for discussion. No one guided me, no one advised me, and no one asked me any questions. I showed up at the financial aid office a couple of times each year and it was always smooth sailing.

On top of that, another great thing happened when I was 18! The credit card companies started to send me applications. And that was just as easy. I got one and then another and then another. Whatever I couldn’t cover with those pretty little checks from Sallie Mae, I could simply charge on my credit cards. College was good to me. I joined a sorority, I partied hard, I shopped until I dropped. What more could a girl ask for?

It wasn’t all fun & games though. I worked through college. I worked at a children’s camp each summer; I was a Spanish teacher for two years; and toward the end of my college career I was a bookseller at Borders bookstore. All of the money I made working was spending money for me. I had Sallie Mae and the credit cards to pay all of my “real” bills.

When I finally graduated, I was making a cool $8.25 an hour at Borders. I loved it. I was happy… until one day, out of no where, a letter came in the mail. I had a six month grace period and then I would have to start paying back those loans. My paychecks barely covered my minimum credit card payments. How was I going to make loan payments on top of that?

So I sat down and did something that I’d never done before. I wrote up a budget. It was horrifying when I realized that even if I’d had no other bills, my monthly wages from Borders wouldn’t even cover half of my monthly student loan payments. The jig was up.

All told, I came out of college with about $45,000 in student loan debt and almost $15,000 in credit card debt. I hadn’t even lived on campus; I commuted from home; my parents paid for some of my tuition; and I only went to a mediocre school. How the hell was this possible?

All of a sudden Sallie Mae and the credit card companies didn’t seem so lovely anymore. There was one thought that kept repeating over & over in my head: Why didn’t anyone warn me? I felt cheated, betrayed, angry, afraid, and helpless. I wondered what the people in the financial aid office had been doing all that time. I wondered why my high school guidance counselor didn’t press me harder about applying for scholarships or grants. I wondered a lot of things, but mostly I wondered how the hell I was going to get out of the mess.

I started sending out resumes for jobs with starting salaries that would at least cover my monthly student loan payments. I sent out resume after resume but before long, I realized another harsh reality. That Bachelor’s Degree in English with a Creative Writing Focus wasn’t so great either. Nobody was calling me back. I couldn’t even get an interview.

The clock was ticking. I was halfway through my grace period. Then one day, one of my best friends mentioned an opening in her office. I looked over the job description and realized that it had nothing to do with what I’d gone to school for. I didn’t even know what it actually was, but the starting salary was more than what I needed. The rest was history.

I’ve been at my current company for almost three years now. And yesterday I paid off my last remaining credit card balance! Additionally over these few years, I’ve cut my student loan debt almost in half and by next Winter, I will have it down to a quarter of what I started with.

Stay tuned for tomorrow’s post, where I will share how I am doing it and how you can do it, too.

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    3 Simple Changes That Will Save Your Life

    This post could save your life. These 3 simple lifestyle changes saved mine. Today I am going to simply share facts with you. These facts (if you let them) will dramatically improve your quality of life. Making these changes can even increase your life span.

    1. Stop Smoking

    FACTS: According to the American Heart Association, cigarette smoking is the most important preventable cause of premature death in the United States, accounting for 440,000 of the more than 2.4 million annual deaths.

    Cigarette smoking causes lung cancer. In fact, smoking tobacco is the major risk factor for lung cancer. In the United States, about 90% of lung cancer deaths in men and almost 80% of lung cancer deaths in women are due to smoking. People who smoke are 10 to 20 times more likely to get lung cancer or die from lung cancer than people who do not smoke. The longer a person smokes and the more cigarettes smoked each day, the more risk goes up.

    Smoking also causes cancer of the voice box (larynx), mouth and throat, esophagus, bladder, kidney, pancreas, cervix, and stomach, and causes acute myeloid leukemia. Source.

    FACTS: One year after passing smoking bans, communities in North America and Europe had 17 percent fewer heart attacks compared to communities without smoking restrictions, and the number of heart attacks kept decreasing with time, according to a report in Circulation: Journal of the American Heart Association. Source.

    FACTS: If you quit smoking, you will:

    1. Prolong your life. According to the American Heart Association, smokers who quit between ages 35-39 add an average of 6-9 years to their lives. Smokers who quit between ages 65-69 increase their life expectancy by 1 – 4 years.

    2. Reduce your risk of cardiovascular disease. Quitting smoking reduces the risk of repeat heart attacks and death from heart disease by 50 percent or more. Quitting smoking also reduces your risk of high blood pressure, peripheral artery disease and stroke.

    3. Reduce your risk of developing a variety of other conditions including diabetes, lung cancer, throat cancer, emphysema, chronic bronchitis, chronic asthma, ulcers, gum disease and many other conditions.

    4. Feel healthier. After quitting, you won’t cough as much, have as many sore throats and you will increase your energy.

    5. Look and feel better. Quitting can help you prevent face wrinkles, get rid of stained teeth, improve your skin and even get rid of the stale smell in your clothes and hair.

    6. Improve your sense of taste and smell.

    7. Save money. Source.

    FACTS: What Happens When You Quit:

    After 20 minutes
    o You stop polluting the air
    o Your blood pressure and pulse decrease
    o The temperature of your hands and feet increases

    After 8 hours
    o The carbon monoxide level in your blood returns to normal
    o Oxygen levels in your blood increase

    After 24 hours
    o Your risk of heart attack decreases

    After 48 hours
    o Nerve endings adjust to the absence of nicotine
    o Your ability to taste and smell begin to return

    After 2 weeks to 3 months
    o Your circulation improves
    o Your exercise tolerance improves

    After 1 – 9 months
    o Coughing, sinus congestion, fatigue and shortness of breath decrease
    o Your overall energy level increases

    After 1 year
    o Your risk of heart disease decreases to half that of a current smoker

    After 5 – 15 years
    o Your risk of stroke is reduced to that of people who have never smoked

    After 10 years
    o Your risk of dying from lung cancer drops to almost the same rate as a lifelong non- smoker
    o You decrease the incidence of other cancers — of the mouth, larynx, esophagus, bladder, kidney and pancreas

    After 15 years
    o Your risk of heart disease is reduced to that of people who have never smoked

    If you smoke again (called a relapse) do not lose hope. Seventy-five percent of those who quit relapse. Most smokers quit three times before they are successful. If you relapse, don’t give up! Review the reasons why you wanted to become a nonsmoker. Plan ahead and think about what you will do next time you get the urge to smoke. Source.

    2. Maintain a Healthy Body Weight

    QUESTION: How many people get cancer by being overweight or obese? How many die?

    FACTS: In 2002, about 41,000 new cases of cancer in the United States were estimated to be due to obesity. This means that about 3.2 percent of all new cancers are linked to obesity.

    A recent report estimated that, in the United States, 14 percent of deaths from cancer in men and 20 percent of deaths in women were due to overweight and obesity.

    Colon cancer occurs more frequently in people who are obese than in those of a healthy weight. An increased risk of colon cancer has been consistently reported for men with high BMIs.
    Source.

    FACTS: Research has shown that as weight increases to reach the levels referred to as “overweight” and “obesity,” the risks for the following conditions also increases:

    * Coronary heart disease
    * Type 2 diabetes
    * Cancers (endometrial, breast, and colon)
    * Hypertension (high blood pressure)
    * Dyslipidemia (for example, high total cholesterol or high levels of triglycerides)
    * Stroke
    * Liver and Gallbladder disease
    * Sleep apnea and respiratory problems
    * Osteoarthritis (a degeneration of cartilage and its underlying bone within a joint)
    * Gynecological problems (abnormal menses, infertility) Source.

    3. Eat Whole Foods, Not Processed

    FACTS: The statistics are alarming:

    – One in three people will get cancer at some time in their life

    – Heart disease is the leading cause of death

    – Poor nutrition and physical inactivity together are the second
    actual cause of preventable death in the United States

    On the other hand new evidence shows that:

    – Eating five or more fruits and vegetables per day cuts cancer
    risk in half

    – People who eat more fruits and vegetables have a 30% lower risk
    of premature heart attack than people who eat a few

    – About 25% fewer strokes are projected for adults who eat 8 or
    more servings of fruits and vegetables per day

    – Fruits and vegetables may help keep blood sugar down and control diabetes.” Source.

    FACTS: Processed meat consumption results in 67% increase in pancreatic cancer risk.
    Source.

    FACTS: Inorganic phosphates are found in a variety of processed foods, including meats, cheeses, beverages and bakery products. They are added to increase water retention and improve food texture. Studies suggests a diet high in inorganic phosphates could speed growth of cancerous tumors and contribute to the development of tumors in those predisposed to the disease. Source.

    FACTS: Carcinogens in foods that may be naturally-occurring, caused by preparing or cooking certain foods, or added to it, include safrole, estragole and benzene. Processed foods such as sausages, bacon and canned meats contain high amounts of the preservative nitrite, another known carcinogen. Other carcinogens to look for in food products include:

    * acetaldehyde
    * acetamide
    * azo color and compounds
    * benzidine
    * bis (2-Chloromethyl) ether
    * cadmium
    * chlorinated parraffin waxes
    * 3,3-dichlorobenzidine
    * dichloromethane
    * hexachlorobenzene
    * polycyclic aromatic hydrocarbons
    * polychlorinated dibenzodioxins
    * polychlorinated dibenzofurans
    * sillica
    * trichloroethylene

    Though it is impossible to avoid every known carcinogen, to decrease risk of cancers and other illnesses, a balanced diet with more unprocessed, whole foods can decrease risk of some cancers and other diseases such as type two diabetes and heart disease. Source.

    FACTS: Nutrients in Whole Foods that Protect Against Cancer:

    1. Vitamin A: Strengthens the immune system. Essential for mineral metabolism and endocrine function. Helps detoxify. True vitamin A is found only in animal foods such as cod liver oil; fish and shellfish; and liver, butter and egg yolks from pasture-fed animals. Traditional diets contained ten times more vitamin A than the typical modern American diet.

    2. Vitamin C: An important antioxidant that prevents damage by free radicals. Found in many fruits and vegetables but also in certain organ meats valued by primitive peoples.

    3. Vitamin B6: Deficiencies are associated with cancer. Contributes to the function of over 100 enzymes. Most available from animal foods.

    4. Vitamin B12: Deficiencies are associated with cancer. Found only in animal foods.

    5. Vitamin B17: Protects against cancer. Found in a variety of organically grown grains, legumes, nuts and berries.

    6. Vitamin D: Required for mineral absorption. Strongly protective against breast and colon cancer. Found only in animal foods such as cod liver oil, lard, shellfish and butterfat, organ meats and egg yolks from grass-fed animals. Traditional diets contained ten times more vitamin D than the typical modern American diet.

    7. Vitamin E: Works as an antioxidant at the cellular level. Found in unprocessed oils as well as in animal fats like butter and egg yolks.

    8. Conjugated Linoleic Acid (CLA): Strongly protective against breast cancer. Found in the butterfat and meat fat of grass-fed ruminant animals.

    9. Cholesterol: A potent antioxidant that protects against free radicals in cell membranes. Found only in animal foods.

    10. Minerals: The body needs generous amounts of a wide variety of minerals to protect itself against cancer. Minerals like zinc, magnesium and selenium are vital components of enzymes that help the body fight carcinogens. Minerals are more easily absorbed from animal foods.

    11. Lactic Acid and Friendly Bacteria: Contribute to the health of the digestive tract. Found in old fashioned lacto-fermented foods.

    12. Saturated Fats: Strengthen the immune system. Needed for proper use of the essential fatty acids. The lungs cannot function without saturated fats. Found mostly in animal foods.

    13. Long-Chain Fatty Acids: Arachidonic acid (AA), eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) help fight cancer on the cellular level. They are found mostly in animal foods such as butter, organ meats, cod liver oil and seafood.

    14. Co-enzyme Q10: Highly protective against cancer. Found only in animal foods. Source.

    In closing: I truly hope that you will begin living these simple lifestyle changes. If you are non-smoker, not obese, and already eating whole foods, then I challenge you to help to spread this message to as many people as you can. All of the suffering and the disease mentioned above is not necessary. It can be prevented.

12 Comments

  1. An exciting tale I look forward to reading tomorrow…

    David Damron
    LifeExcursion & The Minimalist Path

    1. Thanks a lot, Dave. I am really glad that you enjoyed the post. Tomorrow’s post should be an exciting (enlightening!) conclusion.

    1. Hey Baker, thank you so much! It is a privilege to have you stop by. I’m a big fan. I appreciate the positive feedback.

  2. Wow Dena, that is some story. It sounds similar to so many other students out there, and that’s the scary part. This is the kind of post I absolutely love!

    I for one, am extremely proud of you for coming as far as you have. That is so awesome! I cannot wait to hear the rest of the story on tomorrow’s post.

    I have said it before. You are an inspiration to so many that have experienced the same reality. Unfortunately, it is very easy to find yourself where you ended up, but getting out, is a different story all together. That’s where you have shown strength, determination, and resolve! Those are some amazing characteristics for someone to have!!

    Most people refuse to accept their circumstances, and sit around blaming others for how they ended up where they are. You took responsibility for your actions and came up with a plan. Your plan is working and I know you are so glad to have accomplished what you have. No CREDIT CARDS! (Awesome job Dena!)

    I have to say that I would love to post this as a guest post on EOD. If you ever want to let me post this two part series as a guest post on EOD I would be honored. It is so inspirational!

    I stopped studying just so I could respond to this wonderful news!

    Keep up the great work and please keep moving forward. 🙂 You have done a great job!

    1. Brad, I can not tell you how much your kind words mean to me. You are so generous & thoughtful. I am truly grateful that my story can be used to inspire others.

      Despite how difficulty the journey has been (can be) I am glad that it happened. I have learned invaluable lessons that will carry me through the rest of my lifetime, wiser. Also, it is a blessing that I am able to share my story with others so that they may avoid my mistakes or if they are in the same position, I can give hope that there is a way out!

      Being able to share this post with your readers would be a great honor. The more people that read these words, the better. Knowledge is power!

      Thank you so much, my friend.

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  4. Wow Dena, This was great to read. Who would of thought this was you. You seem so perfect! I wish you could talk to Krystal. Cant wait for part two!!!!

    1. I am so glad that you liked it. It has been a long road, but I am on the upswing now! I would love for you to share this with Krystal and hopefully we will have a chance to talk soon, too. I miss & love you guys always. Thank you so much for your support. XO

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