I'm doing 17 things
It’s been a long go…I’ve spent the past 4 years living with a balance and now…I’m down to the last $300 dollars (The initial debt was 20x that!) Within the next week, I’ll be receiving a cheque from my job to cover expenses and I’ll be at a balance of $15…which I’ll of course, wipe clean fast!
How did it all happen? A combination of factors – I moved overseas to work and had to wait a month before getting paid (and didn’t have much to start with on top of the unfavourable exchange rate). I split with a boyfriend who had controlled me by buying me things and decided that the only way to clear myself of him was to pay it all back. And, like most of us, I was living a touch too extravagantly for my budget!
How have I gotten out? My lovely fiance couldn’t fathom the thought of me paying ridiculous amounts of interest to the credit card companies and thought we should pay it completely with our line of credit which has a MUCH lower interest rate. I then began a VERY vigorous regime of payback. I took on an extra job – working 20-30 hours on top of my regular 40 hour work week – at a restaurant where the tips were incredible. That money went STRAIGHT to my debt.
I lived frugally – if I saw something I wanted in the shops, I waited a day before buying it. I went to the library instead of buying books. I started using up bottles of shampoo/shower gel/soap/perfumes/makeup before buying new ones. I’ve cashed in my air miles and points (all those points accumulated by my debt…eek) to get gift cards for shops if I needed to purchase something. I read magazines online instead of buying one a week. It is amazing how these things add up.
I also started to write down all my purchases. I keep receipts from purchases made on my credit card (petrol, larger purchases) in my wallet and make sure to transfer the money straight to my credit card account as soon as I get home. And finally, I started purchasing with cash – When you actually SEE the money being spent, it’s a lot easier to change your mind on the purchase!
So, hopefully I’ll get my expenses cheque soon and my next entry will be one of celebration – Seeing that balance at ZERO!
