(And, just as nice as the financial reassurances, the job has also given me a much needed boost to my confidence. I feel good about what I'm teaching and the contributions I can make toward the college and my students. Last semester was a bit rough but I'm really excited about starting the spring semester, and I'm looking forward to what I can do for my students and the college.)
But, back to my finances... I probably should be more embarrassed about this, but I guess I'm not since I'm putting this out into the universe...
So, here's the cold, hard truth: Raising a family on your own while working on a Ph.D. is pretty much a financial nightmare. It's impossible to raise two small children on a GTA's monthly salary. At least, it's impossible without going into serious credit card and student loan debt. However, I make no appologies: Supplementing my meager GTA income with student loans, credit cards, and additional part-time adjuncting jobs made sure that the boys had health insurance, food to eat (even if it was sometimes just Totino's pizzas and pb & j sandwiches), and clothes on their backs (even if they often came from the resale store, much to my ex-husband's chagrine.)
I've charged on credit cards Alex's dental expenses, much needed groceries, back-to-school supplies, and the occasional winter coat at Old Navy. While I've driven a car with 200,000+ miles for the past 8 years and my boys haven't been able to do extra-curricular activities because we couldn't afford them, I must admit that I owed more than $14,000 in credit card debt in October. (In my defense, $8,000 of that debt was carried over from my divorce, which is another financial story. But, considering that I once owed $18,000 after my divorce, the fact that I paid it down so much is still quite an accomplishment.)
However, thanks to a small financial windfall here, an Earned Income Tax credit there, a whole lotta skimping and saving, and a new job w/ a "grown up" paycheck, I can say that by March 2009, I will have paid off more than $14,000 in credit card debt.
Here's the breakdown:
- As of 10/1/08, total outstanding credit card debt: $14,179
- As of 12/1/08, total outstanding credit card debt: $6,179
- As of 1/21/09, total outstanding credit card debt: $3,436
- As of 3/01/09, total outstanding credit card debt: $0
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