That basic advice is easy to give and hard to switch into living.

Just under two years, I got a consolidation loan, but the weekly loan payments were so large I still found myself needing to use revolving credit, even after my salary caught up to my loan debt. At that point, all of my commission cheques beyond regular salary went into the debt. At January’s two year mark of this 6 year loan, my loan principal will be at 2/3 it’s starting value. That is a lot of money thrown at debt.

Right now, my salary take home less known expenses leaves me with $100 per week to do everything else in life. I can’t escape the slow rise of the revolving debt. My commission is quarterly and doesn’t cover the increase.

In January, when this loan will automatically reamortize, I’ll save another $160 per month. But, this year I’ve also helped my husband immigrate, we have a new apartment, and each have a car.

When he gets work, I’m sure my outlay of money will reduce as we share living expenses, but it is very hard to prepare for emergencies or any unexpected expense without using credit.

Paul