My First Step (and it’s a doozy)…

I’m moving.

This. is. huge.

In my first post, I introduced my situation. For the past two years, I’ve been living in a posh downtown studio  in a new high-rise apartment building. I was in denial about my debt when I moved in. That will be the subject of other posts. Suffice it to say, that I loved this place. I loved the five star location, within walking distance of everything – museums, shops, theaters, a university etc. I loved the safety and calm. I loved the gorgeous view of the city right outside my window. I loved having my little nest, my safe haven, my oasis from the world. I have issues with social anxiety and am a very private person. Before moving here I had been in various roommate situations and disliked it. That is also the subject of future posts. I swore I’d NEVER go back to living with strangers.

I started to realize in the last few months finally that my debt was catching up with me. No amount of scrimping and saving would allow me to make any traction on my debts. I’ve stupidly had my student loan debt in forbearance for the past two years, while I scrimped and saved to furnish this apartment. Yes, really. Life mistake #457. I bargained (see 5 Stages of Grief) with myself that if I could just find a way to keep this apartment, my privacy, my oasis, then I would devote every spare penny to paying down debt. But I would learn that even that would no longer be enough. The very thing that I loved the most – debt would take that from me too.

I finally started doing the math and learned that I would not make it financially when my student loans come out of forbearance in March. So yes, I really loved the place I’m in now. LOVED. But, you know what? I love being out of debt even more. I’ve decided to leave.

I’m going to rent a room in a very small 3-bedroom / 1 bath house in a not-so-great neighborhood with two other women.


This picture will not be my new room, but it is very similar looking. My new room will have a very old twin bed, a small old dresser and old desk with an old chair. That’s it. Three items. But then again, its so small that nothing else would fit. And I like it that way. This move is just what I need to shed all the crap that I spent years accumulating. As I have come to embrace minimalism over the past six months, I am looking forward to the purging process so that I can move as lightly as possible.

I will drop from $1365/mo. in rent and utilities down to $425/mo.  Yes, that’s $940 per mo. that I will be able to put toward my student loan monthly payment when it comes out of forbearance. As unappealing as my tiny cell room will be, what will keep me going is that I’m taking the first step in my three step plan to get out of debt. I’ll talk about the other two in future posts.

By the way, the picture above is of a jail cell. Debtor’s prison is real, and opportunity cost is a bitch.

As for now, let the selling, packing, and giving away begin. I can’t wait….


“Debtor’s prison is real, and opportunity cost is a bitch.” (DDSW)


  1. cashrebel · December 22, 2012

    It’s always tough to make drastic changes to your lifestyle, but that’s how you accomplish great things. Saving $1,000/month is a huge win! You can do it!


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