Mistakes

I have $54,000 in student loan debt and $8000 in credit card debt and I am suffocated under this debt. I can only make the basic payments and whats left over isn't enough. My job just doesn't pay enough. I am scared to tell my boyfriend because its so embarrassing.

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Mar 22, 2019 at 2:50pm

I think telling him depends on how long you've been together and what future plans you've discussed. If you've been together a while and have talked about a shared future, as in possible marriage or living together, then you need to tell him at some point soon. Debt is kind of a part of life in North America. It is difficult to live in Vancouver and pretty much go to school at all, without incurring debt. Most people I know have gone into 20K+, usually more, to go to school. Going forward you could draw up a brainstorm for ideas of how you will get out of debt more easily. Can you reduce the interest rates? Can you ask for a raise? etc. If you are dedicated to finding a solution and you come into the conversation with your boyfriend from that perspective, it might help you to feel less embarrassed. If he isn't kind or understanding when you present it that way then he might not be the right person for you.
Telling him the truth will allow you to see if he is the type of compassionate and loving person that most of us look for in a partner . He also might be helpful in brainstorming ways with you to help you get ahead.

12 2Rating: +10

Steel

Mar 22, 2019 at 3:58pm

Be strong, independent and powerful like steel.

6 6Rating: 0

Start

Mar 22, 2019 at 7:47pm

Give up your smartphone; use a landline. Stop going out to eat. Stop buying new clothes and shoes you do not need. Sell your motor vehicle; rely on walking, cycling, and public transit. Do not effect a "life-style". Be modest. Those are hard things to do when you have been profligate, but you will get out of debt sooner than you think.

18 8Rating: +10

At least for cellphones

Mar 22, 2019 at 9:04pm

Get a bottom of the line flip phone, search for the cheapest monthly plan, cellphones are convenient, so that would not cost much.

5 2Rating: +3

Debt Free

Mar 22, 2019 at 11:38pm

You and everyone like you should admit defeat and default on your mountains of debt so this phony economy can crash already and we can hit the reset.

8 3Rating: +5

Lolzea

Mar 23, 2019 at 2:13pm

You mean that 70k degree in woman studies has landed you a high paying job yet!? Capitalism must be broken.

90% of university degrees are useless.

4 10Rating: -6

Debt freedom

Mar 23, 2019 at 2:30pm

I cut up my cards when i was 30 , now i'm debt free , rent and bills paid early. I live a very simple life that i enjoy.

3 2Rating: +1

Most Common Plan

Mar 24, 2019 at 9:19am

Is get a BF to pay the bills while you pay off debt.
Then you can decide to ditch or keep him around for more benefits.

2 3Rating: -1

Anonymous

Mar 24, 2019 at 11:43am

If the loans are with the government of Canada, get on repayment assistance immediately! It's the best thing I did for myself. I went on it and in a couple months was able to pay off my 3K of credit card debt.

3 0Rating: +3

Make as Large of Payments as Possible

Mar 25, 2019 at 10:01pm

Pay it back as fast as you can, because the longer it takes, the longer you will be in hell. In regards to your pay: Start Applying for new jobs. Go to the interviews, and get the offers. If they pay more, take the job. Then, after a year.. do the same thing. Keep job hopping and get raises that way. Companies won't raise a new grads pay - they will work you like a slave until you quit, because you are cheap and making them tons of money.

2 1Rating: +1

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