So tonight, I did the unthinkable...I bought a car! A year and a half ago, I had purchased a vehicle right after my divorce. My 11 year old car bit the dust -- so much, that even my mechanic sanctioned the purchase! I got the cheapest, nicest car I could possibly afford. It was a good car -- a 2012 Hyundai with 28,000 miles. I was happy with the purchase except for one thing; the interest rate. I knew my credit was bad but I had no idea how bad! Let's put it this way, I was offered a 21% rate of interest by the Toyota dealer. I sardonically replied, "How about if I just put it on my credit card?" He asked, "Do you have one?" The truth was, I didn't -- my credit stunk! And so, began an uphill battle of trying to survive and figure out how to get out of this financial quagmire.
I knew I had much to overcome. I worked two jobs and a third one in summer. I still work the two jobs and yes, God willing, will also do the third one again. It has not been easy. The nights I work my second job, I am too tired to eat anything more than a bowl of cereal. Those are
12-13 hour days, and they are long! I am exhausted during the week, and live for my week-ends, when I can just hang out and get some much needed rest. I usually sleep in and then watch movies with the cat. Sometimes I meet a friend for coffee or go for a walk. It is quiet time and a time of "real" rest.
When I first divorced and had the backlash of my financial issues to face, many people advised me to declare bankruptcy. "Your credit will be good in just a few years." Although it was tempting, I preferred to work my way out of debt. Save bankruptcy for if I ever had something serious such as giant, unpaid medical bills -- not old debt from my marriage. Besides, it would never solve what was is at the root of my financial problems; student loans. And so, I developed a plan of action; write a budget, increase my income and stick to my budget. There was no room for any missteps.
I have done pretty well. I have worked my ass off for the last year and a half. I have paid my bills on time and even now have a credit card with a small limit that I use for emergencies. I have no savings but I have to be ok with that for now. I am able to pay my bills, keep a roof over my head and food on the table.
Today, after a year and a half, I have seen the results of my hard work. My credit score is up by about 100 points. I am now at a halfway decent score. More importantly, I got an 8% interest rate on the car I purchased. A year and a half ago, the best rate I got was 14%! I remember thanking God at the time because not only could I purchase a car, but I did not need a co-signer. I remember shaking when I bought that car because honestly, I wasn't sure I could afford the payment. I just prayed to God that I was doing the right thing. At the time, I only had one job. However, I trusted God and shortly thereafter, I had my second and third jobs.
I am writing this article because frankly, the temptation to declare bankruptcy was great, I actually saw a lawyer. There were many nights I didn't sleep and yet, I made my budget and stuck to it. I am doing slightly better now financially. More importantly, I am seeing that my hard work is paying off. Is it easy? No, not by a longshot! Just a couple of weeks ago, I was so tired, I felt like crying. I confided to a friend that I just felt like giving up to which this person replied, "That's not an option." This person was right. Giving up never was an option.
Getting out of debt is not static. It is an ongoing process. I am working on ways to save money. It doesn't seem like buying a car would be one way to do it but by restructuring the financing, I am able to save $70.00/month. Maybe not a lot to most but it's a lot to me. I will also be shopping my insurance again. I'm told that my rate looks high -- this from the man who sold me my car! Ah yes, another of God's angels. And so, if I can save a few hundred a year on that, all the better. I am trying to find a way to save several hundred dollars a month. I would like to be able to quit job #2 by next year and just keep my summer job. Is that a possibility? I'm trying really hard to make it one!
For now, I know that while trying to make ends meet, a year and a half has felt long. However, in the scheme of things, it really hasn't been that long. A divorce can be devastating in many ways. I don't expect my financials to be straightened out in a year or two or even three. I do, however, hope that in the next ten years, things will start to look up. Roughly half of my student loans will be forgiven in 10 years because I work as a public servant. My car will be paid off. I will not have any children at home and can move to a smaller, less expensive place. All of this takes time; and God willing, I have it. I hope to "semi" retire in the next 15 years. Maybe substitute teach to supplement my income. Life is looking up.
For those of you that are struggling -- keep your chin up. Find that friend who will say to you, "You can cry but giving up is not an option!" It would have been so easy to declare bankruptcy; yet, I chose the harder road. I am glad I did, because the sense of accomplishment I have is one that will stay with me for an incredibly long time. It has strengthened my resolve and my motivation.
Oh, and there's an interesting twist to this story...just an aside, really... At the car dealership, I ran into a friend that I used to work with -- I saw her there a year and a half ago at the same time and place. I remember telling her that I was buying my first car. They too were purchasing a car. Tonight, a little deja vu. I'm pretty sure that was God saying, "It's going to be okay!"
"Trust in the Lord with all your heart
and lean not on your own understanding;
in all your ways submit to him,
and he will make your paths straight"
and lean not on your own understanding;
in all your ways submit to him,
and he will make your paths straight"
Proverbs 3:5-6 (NIV)
"More than You Think I Am" by Danny Gokey
No comments:
Post a Comment