Two years ago, my family and I were heading home from a birthday party. My husband and I had attended law school with one of the hosts, and we spent a good part of the party catching up with several law school friends. Most of the conversation revolved around everyone’s student loan debt.
As we drove home, I told my husband that I didn’t want to spend the next 20 years talking or worrying about our six-figure student loans. We both came out of law school with public sector jobs and an eye on Public Service Loan Forgiveness (PSLF). But 18 months and one child later, I decided to become a stay-at-home mom and found a remote job as a full-time freelance editor. There went PSLF for me. Furthermore, I was worried about relying on PSLF to repay my husband’s student loans. Too many politicians (on both sides of the aisle) had indicated a desire to cap or cut the program. What would happen to us if they did?
Something had to change. Now.
So I started searching online for financial advice, and I ended up reading three books: Cherie Lowe’s Slaying the Debt Dragon, Dave Ramsey’s The Total Money Makeover, and David Bach’s The Automatic Millionaire. I highly recommend all three. I read The Total Money Makeover in one night. By the last chapter I had a new plan—and long-term vision—for us. I got my husband the audiobook for his commute to work, and soon he was on board too. Come the new year, it was “game on” and the start of our journey to financial freedom.
Fast-forward two years and 22 monthly budgets, we’ve paid off a car loan and two of my (many) student loans—along with some other unexpected expenses and a self-funded “maternity leave.” We hope that my husband’s student loans will be forgiven by PSLF, but, well, you never know, particularly in light of the reports about the high rate of application denials. For now, our debt snowball keeps rolling along.
Recently, after reading some blogs and talking with a few friends, I developed an idea for this website. On it I would discuss matters that relate to me and my generation. I would give advice on what has worked and hasn’t worked for my family regarding topics such as paying down debt, budgeting, freelancing and working from home, parenting, owning a home versus renting, and staying at home.
I’ve read many articles about my generation that have painted a bleak picture and outlook. There are many broken systems out there—but we have to stay strong. At the end of the day, it’s all about Surviving Millennialhood.