My personality is very impulsive/decisive, which is a nice way of saying that I spoil myself with nice things right when I want them.

After college is really where my trouble began.

Taking a job at a small business (12 people including myself), I was not paid very well – $24,000 per year. During this time I lived at home in order to make ends meet.

I had bought a 3-year old car from a dealer, an Acura Integra for about 13,000. And received a pretty good rate, due to my excellent credit rating (through store cards, etc – which I seldom used). My rate was 5.45%, making my monthly payments out to be about $253.

The other bill was student loans – again at very good rates. Through Sallie Mae I now owed about $17,000 and an additional $5,000 (0% interest) through my hometown.

It while sitting at my desk at this first job that I applied for an American Express Blue card online. Soon after, I used that card to buy an 40gb iPod for about $400. I also used the card to buy gas and small things – thinking that I would just pay it off right away and get the bonus cash from the 3-5% rebate paid out annually.

I was wrong.

One card became two cards and now – 5 years later I have – 6 credit cards and a personal loan from MBNA. I, of course, soon fell into the debt transfer trap. Unloading a large balance to a new card with a lower rate just to watch the now debt free card rise back up to bite me.

I have tried to get a better grip on my financial life before, but those efforts quickly failed for numerous reasons – none of which were good.

This year is going to be different, basically just because it has to be. I have spent too much of my early career trying to dig my way out of debt. With each pay raise I received my debts increased. I now make $40,000 a year, but have over $44,000 in multiple debts to credit card companies, a car loan and student loans. I have lied to myself about my situation and now, as we approach 2007, the lies end and the long hard road ahead begins.