Paid Off $ 19, 487 In Debt And Got Self Esteem Back Case Study

How I Paid off $19,487 in Debt and Got Self-Esteem Back

Some background:
The $19,487 was all credit card debt. I got into it starting my second year of college. It wasnt because I was bad with money, but I had my first girlfriend and I had low self-esteem. I thought the only way to love her was to buy her love. So I took her to dinners and bought her things that I really couldnt afford.
That debt stayed with me through graduation. My plan was to get a great paying job and become financially successful. But at the time (back in the early 2000s), we were in a recession and jobs were hard to come by. I couldnt find a job and became depressed. This led me to start buying things to feel good. As the high faded quicker and quicker, I bought more
Being a finance major in college, I knew that credit card debt and paying sky-high interest was bad. My first attempt to get out of debt was to open a new credit card with a 0% balance transfer offer. I shifted all of my debt from one card to the new card. Unfortunately, I quickly started to spend on the first card again.
A few months later, thinking I was finally able to kick the debt, I opened a third card with another 0% balance transfer offer. I moved the new debt from my original card to this third card. Sadly, the cycle repeated and I started to spend on the first card all over again.

Effect on relationships
The relationship with my college girlfriend ended in college and I was single again for most of the story. I did meet a new girl and began dating her near the end of my debt payoff journey. By this time I had learned my lesson and didnt try to buy her love.

How I survived
As I mentioned, I was in debt in college for 3 years then unemployed for close to a year. I landed a part-time job at a retail store and kept that job for a little more than a year. During this time I landed a temporary job at a finance company and when that ended, was able to land a full-time job at another finance
The best advice I have is to sit down and figure out the root cause of the problem. I thought I was just overspending at the time. But the issue was more than that. This is why when I tried to get out of debt the first and second times, I failed miserably. I never addressed the real issue my depression and low self-esteem.
2. I know that it isnt easy, or fun to look within and admit you are flawed. But trust me when I say that the pain, hurt and tears from doing this are more than worth it. If I wouldnt have addressed the issue, I would probably still be in credit card debt today and hating life.
3. Next, confide in others or use visualization to help you. When I realized what I was doing, I took all of the clothes and electronics I bought on credit and piled them on my bed. I took a picture and carried it with me as a reminder of all of the stuff I bought and didnt need or even use. I also told my best friend. He was a great shoulder to lean on too when my willpower was weak.
4. Finally, dont ever give up. I failed twice before conquering my debt. I learned something new each time. Dont be afraid of failing. Failing is a good thing because you are trying something new and growing as a person. Take the time to learn from your failure and grow as a person from