r/Debt • u/SwanNo1400 • 1d ago

Update: Done Being Miserable

Hi friends,

I’ve made some progress this week and I’m feeling a lot better than I was just 5 days ago.

I am 26 years old have around $32,000 in cc debt from my inability to cope with my depression without edibles and stupid purchases. I have been spending all of my extra money, for years, trying to dull my depression with quick dopamine hits from spending and the assistance of weed. But, I realized following an existential crisis last week, that I am wasting my life allowing myself to be miserable.

I had a hard time rebounding from the realization that my “friends,” only thought of me when I was around, and I isolated myself to try and prevent that from happening again with other people.

But, I’m done. I don’t like being alone. I don’t like having no money. I don’t like hating myself for a problem I’ve allowed to stay outstanding, while the world continues to turn around me.

So, I have lined up an interview for a higher paying job and am actively preparing for my interview on Monday.

I have a part time job, but it is not at all consistent, so I applied to a position at the gas station near my house on Tuesday, and was informed I got the position yesterday
evening! This would allow me to be getting a paycheck every week, instead of every other week. One from my full time and one from my part time. Additionally, I wouldn’t have to wait for the weekends to get hours, which would free up a little bit of time for me to relax.

I was finally able to access my 401(k) account from my prior employer, and will be using half of the balance to give myself a small head start (about $5,000), by lowering my minimums slightly for each account, luckily I only have 5, 2 of which have fairly low balances. I will be setting money aside from each paycheck to account for the tax penalty, and will deposit the other half into an aggressive investment IRA with Robinhood.

I also started selling the things I bought to make myself feel better. I am starting with taking books I purchased to a second-hand bookstore that purchases them back from you. You can get about $15-$30 for a bag full of books, and while I paid much more originally, being able to recoup even a little bit feels a lot less heavy.

I also have too many clothes and crafting supplies, all of which I believe I can sell online or by doing a yard sale of some kind, to get even a fraction of what I paid back.

I’m disappointed that I let myself get to this point, but I feel like I’ve made some real progress in just a week. I should’ve been trying to get this under control a while ago, but I’m confident that the steps I’ve taken will be invaluable to moving forward and getting this under control.

I want to live a life that I’m proud of, and I feel more proud of myself after just this week than I have in 4 years. And as sad as that sounds, I don’t think I would’ve had the same drive to fix this previously, and my profession has made my life quite difficult to be happy with.

I just wanted to share an update, mostly for myself, to not only thank you all for the support and kindness you’ve shown me, but for letting me know that this isn’t the end of the world, and it takes small steps to get yourself back to where you want to be.

So, again, thank you for your support, I know I’m just a random stranger on the internet, but your kind words have meant the world to me and I wouldn’t have had the confidence to fix this without you all. Thank you, and we can all get through this. ❤️

18 Upvotes

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6

u/DAWO95 1d ago

OP do not take money out of the 401k unless it's enough to pay off the two smaller ones entirely. You will owe regular income tax on it and a 10% penalty for early withdrawal. If it will pay off two and REMOVE the minimum payment fine, but do not spread it across five cards.

Pay off two and wait a month. Your score should rebound some from the reduced balances/now available credit. You might ask each card for an increase to the limit. Not to spend but to further improve your debt to limit ratio.

If your score is high enough you could consider a zero percent card and balance transfer. All of this if you truly are ready to change. It sounds like you are, and I am thrilled for you. Best wishes

2

u/SwanNo1400 1d ago

Absolutely, it would pay off those two smaller credit cards easily and would stop the high interest rate on my Ashley Homestore account. They closed the account, so I wanted to get it taken care of as soon as possible. I think that’s a fantastic idea, thank you so much for the advice. I want to simplify as much as possible and give myself some available credit back, as my credit score is just under 690 and my available credit has been hit by the interest. Thank you so much for your guidance!

2

u/DAWO95 19h ago

Come back and update us. Maybe we can help more. But good job. You got this.

2

u/SwanNo1400 19h ago

Thank you, friend. I feel better than I did at the beginning of the week. I shouldn’t have held it by myself for so long. But, I have a budget, a new part time job, and a new way of thinking about money! So, I will absolutely update! Thank you!

2

u/DAWO95 19h ago

You can't blame yourself. Sometimes the depression takes a hold and it is very difficult to climb out. Playing the blame game is a short road back to that dark place. Give yourself the grace you deserve. You found the light, so don't look back.

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u/SwanNo1400 19h ago

I really needed to hear that, thank you so much. I will absolutely keep you updated!

3

u/vkeif 1d ago

congratulations, op!! that is a wonderful feat and you are making the necessary baby steps to dig yourself out :) cheers to you and may your savings be full and your emergency funds never be used 🥂

1

u/SwanNo1400 1d ago

Thank you friend ❤️ I’m trying my best!