Carol Ann you are doing great! The biggest steps in debt reduction is knowing exactly what your debt is and then recognizing your part in it (which we all make bad decisions along the road of life). And then taking responsibility. You have a doable plan. My only suggestion is continue to put some money aside for fun and hobbies otherwise it is like a diet if there are not treats along the way you will eat the whole cake. 😁👏🏻 I am cheering you on!

I think you can do it, Carol Ann! You've got this! Excited to see your progress.

Carol Ann, like all the other newly minted PA's out there, you will soon start picking up extra shifts, especially on weekends and holidays, and your income will skyrocket. You'll wrangle those student loans into the dust in no time.

Nothing wrong with buying something for your enjoyment. Instead of a credit card start stuffing an envelope to reach that buy goal. If things haven’t gone to hell in a hand basket there’s nothing wrong with rewarding yourself for all your hard work.

10000% you can get this all paid off in <5 years. I can't even imagine the amount of saving and investing you'll be able to do once that's paid off, not only because of your income but also because of you and your mom living so frugally. I'm also see you two living on a homestead that is PAID OFF in 10 years. Mark my words!

It's very brave of you Carol, to put yourself out like that on the internet. People behind a keyboard can be very mean. I think your 5yr plan is doable, especially if you & your mom continue to share expenses. There will be months where it will seem like you're never going to get ahead but you will get through it. You had the determination & brains to complete your current courses so this will be no problem for you. It'll take will power and determination for sure, but it will feel so great when you're out from under this burden. When we had lots of debt I used to watch episodes of Oprah's Debt Diet series. Regular folks with lots of debt just working their repayment plans. Good luck!

You can do it Carol Ann! I'm glad to see someone taking responsibility instead of just relying on student loan forgiveness and letting the tax payers foot the bill for their education. ❤❤❤❤❤

You can go in and get the extended warranty removed! They will just prorate it and put the difference to your principal! I didnt know this and regretted the warranty immediately

Happy Friday! Thanks for sharing your updates! Cheering you on!

Can you pull extra shifts for OT pay? Or just extra pay? Say 2 shifts a month and 100% of the extra shifts goes to debt….Plus whatever you put from regular pay

Hello, have you thought to consolidate your student loans.

Your mom is HILARIOUS! Love it when she enters the room full of personality 😂. Yeah those student loans can be brutal, but the financial return is definitely worth it! Good luck 🙌🏽

Great video Carol Ann. Rooting for you

Being debt free is such a great thing! It’s feeling so free that you almost feel reborn. Plus, you feel like you got an extreme pay raise

I have a question, please? I have a credit card with an $8,400 balance, with an interest rate of 30.1%! Which is nuts! I don’t make minimum payments (@ $35/month it would take donkey’s years to payoff! I pay a minimum of $500/month and up to $600/month. Here is my question: $8,400 @30.1% paying $500/per month, how much of that $500 will be eaten up by interest, and not really hitting the balance? $500 less (30.1%) does that mean I’m only knocking off $350 off my balance each month? My new balance $8,400 drops by $350 = $8,050. Or am I calculating how my balance reduces. It’s scary being in debt. Adding no new purchases, I’m still accruing interest on that lower balance. I feel like I’m chasing myself getting this paid down.

How about pay the highest interest first then move down the list

Love the transparency, we need more of this in the community, you got this! 🎉❤

I am shocked you ran up credit cards for wants after having a mom who has been frugal and budgets to the penny. You need to listen to Dave Ramsey and read his book the Total Money Makeover. A car for $20,000 are you kidding me. You could have gotten a Toyota or Honda for $5000. At this rate you will be in debt until you retire. What a shame.

That is actually a pretty good amount for getting a doctorate! I have a master degree in clinical psychology, emphasizing and developmentally delayed youth and my entire degree came in at just under 144,000 and that doesn’t even include a doctorate degree! Have you ever thought of maybe running Uber as a driver for a couple of days a week as a side hustle? Only reason I ask is it would help you pay down your consumer debt even faster without taking that money out of your paycheck and just using it out of your side hustle as an Uber driver, even if it’s only for a couple of days a week? My daughters boyfriend used to work for Uber And I believe he was clearing $800 a week Uber and I know some areas are more populated and heavy needed Uber drivers and others, but maybe it be something to look into so that the money in your paycheck can either go to student loans or savings just suggestion! Congratulations on how far you come super exciting that you’re going to be enrolling in a PhD program. You have done very well and should be very very proud of yourself.

What planner are you using?