Saturday, June 7, 2008

How Far Will You Go to Pay Your Debts?

I recently had a conversation with a friend that led me to believe he had finally declared bankruptcy. He had been considering it for some time. I made a comment about my summer job and how all the money would be going toward my debt, and he said he no longer had to worry about any of that. So, I am quite sure that is what happened, although I would never be so rude as to ask.

That got me thinking. I am not nearly in the type of debt that would require me to declare bankruptcy, but just how far would I be willing to go to pay off my debt. Bankruptcy is obviously a big step and I have a feeling people who have to declare probably feel some sense of failure. (I am not saying they are, but I know some things can affect people that way.) What other feelings could be associated with repaying debt. For me, hatred springs to mind.

My summer job of teaching summer school is driving me crazy! I have to be away from my newborn, I am dealing with students who do not really care to learn the material I have to teach, and I will not get to spend a dime of the money I make. It is not really that I have anything I need to spend it on besides debt. However, after all of that work I will be paying for things that I no longer remember or even have. I am essentially working to repay my past mistakes.

If nothing else, I guess this will make me think twice before I ever charge another thing. I had come to that conclusion long before starting this extra job, but now I have a very clear picture of what is in store for me each summer that my debt is with me. I don't look at it as punishment though; I look at it as an opportunity that a lot of folks don't have. However, I still don't like it.

So, I now know that I will do something I really hate to pay off my debts. What keeps me going is that each day I walk in my classroom to set up for the next day and call out the amount of money I am up to. Today it was $800! On the last day I will be able to say $2000! That will make it all worthwhile. Of course I have to wait for Uncle Sam to let me know what I actually get to pay toward my debt, but it will still be a nice chunk of change.

I understand there comes a point when people get so in over their heads that they have no choice but to declare bankruptcy. For a while, I was a little jealous of my friend for basically getting the slate wiped clean. However, I know I will be a better me for having worked so hard to repay my debt. It will give me a sense of accomplishment, and that is a good thing!!

What have you done to lower your debt? Did you part with things you really wanted to keep? Did a job you hated? Let me know!!

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