I had bought a car that year at a dealership for higher than the book value, and got hit from behind by a driver within a month. The insurance check did not cover my loan and I had to keep making payments for months without having a car to drive.

I was acquiring student loans to cover my tuition and some expenses. I think this was around the time that I started to abuse my credit cards. I would use them for some expenses during the semester and pay them off with my excess aid check the following semester. Then I started to use them for more than just the occasional tank of gas and before I knew it I was not getting enough excess aid to pay it off. I probably had a net worth of about -$20K give or take $100 in my checking account. $3k of that was credit card debt and the rest was student loans.

The following semester I took off of school, just auditing a course and working 2 jobs to pay my debt off. This was also the time that I settled on my major in college.

So some negatives and some positives. In the last 10 years I graduated, got married and have found a job in my industry. My husband and I together are tackling our debt and trying to make other wise investments. We own a home together and my car at least is paid for outright. We have a combined net worth of around $90K.

I now make almost 10 times what I made back then, but unfortunately I have not gotten better at managing money. I do have debt (though most of it is my mortgage), I don’t have enough savings, and my retirement accounts are not where they should be. I think I’ve been somewhat in a “binge” state over the last 10 years to make up for those incredibly lean years of school. Hence, I am now working on frugality and hope to pay off my debts within a year.

Oh, and I now have another cat and other pets. Can’t seem to stop acquiring those!

Patience and living below my means is also what got me to where I am. Maybe add in hard work and sacrifice too.

Now 12 years ago I was jobless on food stamps and had no means of paying my rent (but that’s a whole different story).

Ben

While I did save enough money to put 20% down on a condo and significantly increase my work experience and income in the last 10 years, I haven’t done all good things.

I probably wasted too much time and money on recreation activities over the years and bought a place way too soon.

Now, even though my income is better, my monthly expenses are high because of a mortgage and special assessments from the association for upgrades for the building.

If I had it to do over again, I would have lived with my parents longer and saved more money, and rented rather than bought a place.

There is no end to the special assessments that they can force you to pay when they only need a 50% approval of the owners to proceed.

I made some good choices but I could have done better.