Debt is a real and present thing for most Millennials. Whether it’s student debt or credit card debt, it’s a real burden, so we often just pretend like it’s not there. Getting out of debt isn’t something we see as being a reality, so we pay minimum payments but that’s it. We say we’ll eventually put more money towards paying it down, but really we are just putting it off and living life to its fullest “while we can.” That’s what we tell ourselves at least.
Business Insider interviewed one young man who was dealing with this very problem. He had debt, got a decent job, got promoted, and, instead of putting his extra money towards getting out of debt, he drastically increased his quality of life.
It’s tough to have some self control when you feel like you’ve finally caught a break. I mean, you get promoted, so why not treat yourself?
You can read Kyle Bender’s story of how he paid off $16,000 in debt over at Business Insider.