According to Black Enterprise, the 33-year-old accumulated most of his six-figure debt while pursuing a doctorate in pharmacy at the University of Connecticut.
After upgrading from a Subaru to an Audi, which required a loan of $47,000, Rosiclair added $740 in monthly payments to his already substantial college debt.
In addition to the costs related to his car, Rosiclair was also shelling out $1,000 per month for rent and expending a significant amount of money on purely pleasurable activities.
He told MarketWatch he was blowing through everything he had.
Rosiclair made the tough decision to change his spending habits to pay off his debt. His monthly car payment was significantly reduced after trading in the Audi for a used 2011 Acura TSX.
He reduced his monthly rent from $1,000 to $450 by sharing an apartment with two roommates and cutting back on other, less essential expenditures. He prioritized minimizing all spending and putting his debt as his main focus.
Despite his dissatisfaction with his stressful and time-consuming job, Rosiclair was unable to leave it and seek new career options because he owed too much money to accept a pay cut. He said that was “the moment” he decided he would never feel that way again.
In August 2020, after less than six years of debt repayment, Rosiclair was debt-free.
“That was honestly the most incredible feeling I have ever experienced in my life,” he further elaborated on how he felt making progress. “Like being on a full high for days.”
Since he has no outstanding bills, he is free to focus on his new career as a pharmacist at a medical marijuana dispensary.