Maybe you can avoid my mistake!

Hi hicks

Welcome to the forums. I am glad that you are bringing awareness among the younger mass not to incline towards odd fancies, but to think in practical terms.

There are some people who are born to live in a lavish way and many are just trying to imitate them. Those born in a lavish style of living will continue to live in the same way but those enjoying it for a short period will have to pay a heavy price for it.

I guess, hicks was matured enough to realize this fact in a short period of time and will live the rest of her life very happily.

Regards
Roxette

[quote=m_hicks_2003]:!: Perhaps if some very young person can read this, they may avoid the mistakes that I have made. It's funny because my mother was always very good with money management and she is still trying to help me learn. I come from a not-so-rich background. I enjoyed the simple life, but after high school I attended Pepperdine University, which is a very prestigious school as well as very wealthy. Needless to say mostly wealthy students attended. I tried so hard to fit in with that lifestyle, and would charge everything to my credit cards. I purchased a new SUV with no means to pay my rent and the car payments. I finally got out of that lifestyle and now I am in a regular job that makes reliable money, but I am stull paying back for my mistakes I made last year with cash advances, credit cards, an suv I can't really afford with a no-way-out contract. I have yet to talk to a counselor, but I am hoping that it will work out for me. I don't have great credit at the moment, but I also do not have any late payments against me, or any other bad marks other than too much credit. Hopefully I can get out of debt and start over with fairly good credit.[/quote]

I am still young so I will heed your advice. many people go through that same stage of trying to impress people and trying to fit in.


So you are not alone in that respect. This is perhaps the most costly version of this phenomena. but the good thing is that you learned a lot from this. Because there may indeed be situations in the future where one would have to feel as if he or she needs to keep up with the Joneses.


Just look on any suburban block. you see families trying to one up each other with the size of their homes to the most trivial competition involving Christmas decorations.


This is very common, but the good thing is that you learned a lot during this ordeal. And the better news is that you are still alive and you have a legal means of getting yourself out of that mess.



So you should pat yourself on the back for recognizing your errors and attempting to remedy them. So at least you are a step ahead of those who are still living that lifestyle.



Well, if you haven't considered it, I would suggest that you try to consolidate your debt if it is possible. you said that you haven't spoken with a counselor yet. So I am not sure if you are in talks with our consolidation company or another.


but you should consider this route because debt consolidation would allow you to reduce your interest and monthly payments so your bills would be more manageable. This would allow you to attack the debts directly and eliminate all of your debts quicker.



So good luck with the future and I am glad that you found a new perspective on your financial life.

i am too a 24 year old and i am debt with please only looking for an easy way out i took out payday loans but am at default with all of them and since my pay is steadily dropping at my job it is hard to try to pay them back i am so in debt and im trying to get out of it the best think i can do now is only hope that there is somewhere i can get out of the bind that i am currently in now

Welcome to the boards, m_hicks!
I'm 19 years old and sometimes I feel like I'm decades older, simply because I received an unfortunate crash course on money management and debt, starting about a year ago.

I became stressed about money when I was only 10 years old, when I got my first job as a papergirl. Ever since then, I have struggled with money and basically learned the ropes of managing the stuff.

Luckily, my psyche skipped the "wonder years" and I never went through the desire to live a fake, lavish lifestyle, or run up credit cards on clothes, parties, etc. In fact, I just situated the beginnings of my 401K at work *rolls eyes* I'm too young for this junk! LOL!

Your story will hopefully save some young people from making some bad money mistakes! Thanks for sharing your experience!

Lindsey you are very fortunate to learn this lesson at such a young age. I have went through the lavish life style. Unfortunately, it took years before I learned my lesson and now I am trying to fix my credit and get out of all of this debt. Dont ever go backwards.

my story is the same way I was always growing up spoiled child.Youngest out of three, my dad's kids and thinking money was never an issue and not it is and i'm paying for it.

Definately talk with a counselor...I had huge debt and did everything I could to pay every month and I did for a VERY LONG time and STILL I SAW NO RESULTS! It was very frustrating! Although you can pay now, trust me it catches up with you.

Reading your story. I think debt consolidation and credit counseling ( same? ) would be a great way to go. There is also some great info in the Credit Repair section where a member found that they could have items removed in their Credit Report by challenging them when the creditor was unable to provide proof.