Clara's Crossroads

My name is Clara, I'm 34 years old, and I work as a high school teacher. Despite holding a Master's degree and dedicating over a decade to education, my salary caps at $48,000 a year before taxes. The love for my job is immense, but the financial rewards are disproportionately small. My journey into financial turmoil wasn't a swift fall but a slow, spiraling descent.

Here's where I stand: I've accumulated $20,000 in credit card debt across four cards, with interest rates haunting me at night, ranging from 18% to 22%. Additionally, I have $35,000 in student loans from my undergraduate and graduate studies. My monthly income, after deductions, leaves me with roughly $2,800. My living expenses, including rent, utilities, minimum debt payments, and essentials, barely leave room for a cup of coffee with a friend.

I've always been frugal, shopping sales, and limiting any 'luxuries' to books and occasional professional development courses. Yet, every unforeseen expense, like car repairs or medical bills, seems to set me back significantly. I've tried tutoring on the side, but the income is inconsistent and often negligible after accounting for time and resources. The thought of another 30 years in this financial bind is suffocating. I'm desperate for a way out but unsure where to begin. What steps can I take to regain control and hopefully, one day, achieve financial freedom?