Real Life Debt Story - No More Debt


Real Life Debt Story - No More Debt

Welcome to my series of 'Real Life Debt Stories'. The series is dependent on you sharing your stories, so if you are interested I'd love it if you'd complete this questionnaire. There are just 10 questions.

Real Life Debt Story - No_More_Debt

Thank you so much to No_More_debt who you can find over on Instagram.  If you are not part of the Debt Free Community on Instagram, you need to head over.  It is a brilliantly supportive place to be.


What was your Lightbulb moment?

January 2nd 2017, after busy Christmas and a sedate new year I decided to check my banking app. My £2,500.00 overdraft was overdrawn by -£2.50, it was 20 days until payday... Not so much a lightbulb moment as a floodlight in the face!

How much did you owe at the time of your Lightbulb moment?

Roughly £26,000 without the mortgage included... Ugh.

How did you feel when you had your Lightbulb moment?

Tearful and terrified. Owning my mistakes was hard, realising that there was never going to be a magical inheritance or lottery win to answer my prayers was harder, but once I put it in writing and grasped the extent of what was happening it became controllable in my mind and I think with debt, a lot of the problem isn't the paying it off its the fear.

What/who were the circumstances which caused your debt?

Oh wow, four kids, clothes, easy credit, clothes, a husband who is equally as rubbish with money, more clothes, did I mention clothes?

What were the first steps you took in taking control of your debt?

Writing it down, every last penny, get it all down, break it down into levels of importance and cancel anything that isn't! But always write it down.... Visually you can start to see what you need to change!

Where are you now in your journey to being debt free? Do you have a target ‘debt free’ date?

My date is changing all the time, my husband left his job for a more secure one, I have options to up and lower my hours dependant on school time so, we would like to say 2020 but, it could be sooner, it could be later... (Please let it be sooner).

Are there any debt repayment ‘methods’ that you would recommend? What has worked for you?

Dave Ramsey's snowballing... I paid off my Amex in four months and started slaying my Next account. Had I gone the old route of little-by-little, I'd have both of them with little paid off.. he's like my guru..

What advice would you give to someone who has just had their ‘lightbulb’ moment?

Be easy on yourself, you're in good company, the debt free community is full of awesome ladies and gents ready to support you, nobodies judging, it's a group of cheerleaders waiting to advise you. There will be tough days but own it and share... You're not alone!

How do you stay motivated?

Instagram, the debt community positivity is outstanding and the advice keeps me sane!!

Thank you so much No_More_Debt for sharing your story.  You can find No_More_Debt and Money Saving Journeys over on Instagram - why not join us?

Debt Repayment Methods

If you are interested in learning more about methods of debt repayment, take a look at these posts:

Snowball Method

Interest Repayment Method

Would you like to Share Your Story?

My aim is to feature ‘Real Life Debt Stories’ from people who have experienced debt. This could be debt of any size, type or reason. Debt that has been paid off, debt you want to start paying off or debt that you are currently in the middle of paying off. I want to share failures as well as successes including the reasons why you found yourself in debt in the first place – as everyone’s story is different.

It is important to show people that they are not alone. I also want to highlight that different methods of getting debt under control work for different people and that there is not a ‘One Size Fits All’ solution.

This is where you come in. I am looking for anyone who is willing to share their story with my readers. I have developed a questionnaire for you to complete and this can be completely confidential and names will not be shared OR if are happy for your name to be used, I can use it. If you also have a blog, I am happy to link to your blog too, alongside your story.

I will then email you to let you know when your story will go live.

Why not pin this for later?

Real Life Debt Story - No More Debt