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A 22-year-old finance graduate thought he had a plan. He had earned a bachelor’s degree in finance, launched a protein business, built a few side income streams and recently landed a full-time remote job. But after years of poor spending decisions, he found himself staring at nearly $13,000 in credit card debt spread across seven cards.

Feeling overwhelmed, he turned to Reddit’s personal finance forum for advice and admitted the stress was taking a toll. “I feel like I’m going through a midlife crisis right now at 22 damn years old,” he wrote.

How The Debt Added Up

The young graduate said the debt didn’t come from one major event. Instead, it built up through a combination of business expenses, impulsive shopping and what he described as an edible addiction that he has since overcome.

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He admitted he worked only part-time throughout much of the previous year because he was focused on trying to build a protein business without enough capital. Looking back, he described the decision as stubborn and unrealistic.

At the time of his post, he had recently started a new media buying job that brought in about $2,250 per month after taxes. Combined with income from YouTube tech review content and Amazon advertising revenue, his total monthly income was around $2,950.

After accounting for rent, utilities, groceries, transportation, subscriptions and minimum credit card payments, he estimated he had roughly $900 left over each month.

Many commenters quickly pointed out that his situation, while stressful, was far from hopeless.

“It sounds like you do know how to pay it off,” one of the most popular replies summed up the community’s view. “It’s just not going to happen as fast as you want.”

The poster acknowledged that criticism was fair.

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A Lesson In Discipline

People in the discussion kept saying that sticking to a budget and staying consistent would help more than looking for a quick fix.

Some people suggested using the debt snowball method, which means paying off the smallest debts first so you can see progress quickly. Others preferred the avalanche method, where you focus on the cards with the highest interest rates first to save more money in the long run.

Many also encouraged him to pick up a second job temporarily to speed up the payoff process.

The poster admitted there was some irony in finding himself in this position despite holding a finance degree.

“You’d think a finance degree student should of all people, know when to stop and step back,” he wrote. “But I’ve been so stubborn on so many things.”

Several older commenters told him not to be too hard on himself. They argued that learning this lesson at 22 was far better than learning it decades later.

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The story eventually received an encouraging update. About two months later, the graduate returned to share that his debt had already fallen from about $13,000 to $11,500. He said his spending was finally under control and that he planned to move back in with family, allowing him to direct roughly another $1,300 per month toward his debt.

Perhaps the biggest realization came when he admitted that he already knew what needed to be done.

“At the end of the day, this post probably wasn’t needed as in reality I already knew everything I needed and still need to do,” he wrote.

For people who don’t have a finance background, talking with a financial advisor can help. A good advisor can review a budget, identify spending leaks, explain debt payoff options and help create a realistic plan. They will also provide structure and accountability for people who feel overwhelmed or aren’t sure where to start.

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This article Even With A Bachelor’s Degree In Finance, A 22-Year-Old’s Bad Spending Habits Buried Him In Credit Card Debt. ‘I’m Going Through A Midlife Crisis’ originally appeared on Benzinga.com

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