Hi Frugalistas! If you are a person who is struggling with debt, I wanted to share these inspirational tips from one of my Facebook group members, Donna. She slayed $15,000 worth of credit card debt in two years! Woot! Woot! Credit card debt has
garbage ass high interest rates and it’s a HOT MESS to get rid of! Meh. I have no plans to do that credit card debt madness, again! You can read about how I got rid of my debt in the book The Frugalista Files: How One Woman Got Out of Debt Without Giving Up the Fabulous. Anyway, I’m really proud when anyone reaches a goal – especially a financial one! Go, Donna!
Facebook Frugalista Group Member Profile: Donna’s 7 Strategic Debt Pay Off Tips!!
1. Set a goal – Wanted to be credit card debt free by 2013
2. Found out where my money went. $580 per month average on fast food and restaurants even when I bought food to cook at least twice a month. Found this out during a 30-day home cooking challenge. This was TOUGH.
3. Debt Snowball ala Dave Ramsey.
4. Gave myself a very small splurge budget each month-about $50. (It) made me really aware of my spending.
5. Halfway into my journey, I got a side hustle to teach history online and volunteered to teach over summer and intercession for extra cash (I am a college professor).
6. I didn’t become a hermit but I was very selective about how I spent cash. If my sorors and I were out doing community service, I’d either skip the post service meal or order just an appetizer with a side salad.
7. Admittedly I got a bit obsessed with the whole thing…budget projections for a year into the future to the dollar, etc. Once I got down to my last card, I mellowed out a bit. In the beginning, I feared backsliding so I went a little crazy.
Oh my! What did you all think about Donna’s tips? I would have never thought to project the strength of the dollar!! Whatever works, eh? What are some of your tips for telling debt to piss off? Are you a member of my Facebook group? All the cool kids are there!