Save Don't Spend

I came across this article through a former classmate who shared it (thanks Stef!) I read the title and thought wow I can really relate to this 22 year old. But as I got further into the story, I started feeling less sorry for her and realized that I related less and less.

http://www.theglobeandmail.com/globe-investor/personal-finance/genymoney/halifax-millennial-22-struggling-to-find-full-time-work-and-repay-50000-debt/article30068252/

Don't get me wrong, I'm not a heartless person. I understand that many students graduate with thousands in debt and spend a lot of their first few years of working paying it off. The problem is that some of those grads get so caught up in the hype of their first career job or travelling or whatever they're doing and they forget that the longer they have this debt, the bigger it will get essentially.

When I was in university and college, I was dead set on having my student debt paid off no more than a year after I graduated. I was determined to start fresh when I graduated and have (somewhat) financial freedom. So I may have gone out less during the school year and may have had to give up some extra trips to the lake to work my two (or three) jobs each summer, but I was happy to say that three months after I graduated I had zero student debt.

I totally get this isn't an option for many students. It's really hard to go to school full time, work part time, and have a social life so you can stay sane. The truth is, if you want something badly enough, you will work for it and you won't let anything stop you.

That's why this article kind of had me shaking me head. This student in Halifax is saying that she is not making very much money in her job and that it's hard for her to pay back her debt, or to live a stress free life. So okay, I feel you. I understand the job market is hard. I can't imagine it in a small town where everyone is going after the same job, but even here in Winnipeg. I've been on the hunt for a job for 7 months now. I've sent in well over 50 applications, had 7 interviews, but still no job. It's tough. If you keep scrolling though they go through her monthly budget.

I see things like rent, food, and medical expenses. Standard stuff. But for someone who is $50,000 in debt, spending $177 on alcohol, $300 on holidays/trips, and $139 on eating out makes no sense. The inner Gail Vaz Oxlade in me wants to just shake this girl and go WAKE UP. These are WANTS not NEEDS. And don't get me wrong, everyone is entitled to spend their money however they want and to live their life the way they want to. But it is really hard to feel sorry for someone who could be doing a lot more to help themselves get out of debt.

I have learned a lot of my money knowledge through other people's mistakes. Essentially, I could tell you what every couple's problem was on the show Til Debt Do Us Part. The reality for us millennials is that things are more expensive now. Cars, houses, apartments, food, clothes. As much as our parents and grandparents tell us we're complaining about how expensive stuff is, we aren't lying! I totally recommend if you're ever struggling with money, or if you're like this girl and just can't get your priorities straight, ask for help! Better yet, check out some of Gail Vaz Oxlade's books. There are many free resources online too, you just have to take the time to look.