I paid off £30k in debt in five years & now own four houses – the tips I swear by & the huge sacrifices I had to make
A WOMAN has revealed how she managed to pay off a whopping £30k of debt in just five years.
Julie Haneline, who is from South Carolina, racked up the huge debt due to student loans, credit cards and buying a car.The money-saving guru revealed the six top tips she swears by[/caption]
Now, she owns four houses and saves an impressive £1.3k a month – and has shared her top tips on how she did it.
In a video shared to TikTok, the money-saving guru begins by explaining how the first important step is having self-discipline.
“I said no to a lot of things I really wanted,” she explains.
“I did no spend months, no shopping, no going out to eat –
basically nothing that is an absolute necessity, for a whole month – and normally it’s the month of January.”
Next up, Julie recommends taking on some new side hustles.
“Every single dollar I got out of my normal job, I was putting that towards debt,” she says.
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“So, if you have to work two jobs, that’s OK – it’s only temporary.”
The money guru then goes on to highlight the importance of budgeting.
“The better grasp you have on where your money is going, the better you’ll be able to reign it in,” she explains.
“I promise you, if you are not budgeting, you are overspending in at least one category.
“I made huge sacrifices.
“I’m talking about living with family and friends.
“I lived in my friend’s sun room with her cat.”
She continues: “I wouldn’t recommend this but I even lived with a Craigslist room mate for a little bit.
“That was back in the day when it was more normal!
“I listen to every single money podcast, money book that would motivate me and help me learn.”