Hey guys it’s Brittany. I am here to give you all an inside look at my journey of paying off over 25,000 in credit card debt… in LESS than 2 years. This blog is going to be a little different. I am not going to give as many specifics and tips as I normally do. This is a motivational talk today.
I want you to know that you can do this too. If I, a reformed shopaholic, can get through this, you can too!
Read the Video Transcript (well most of it! haha!)
So, the first thing that I did when I was trying to pay off my debt was… well, I cried first. I mean that’s always the first thing you do when you look at your credit card and it’s up to $25,000. That’s just what you do, but after you’re done crying.
Then you go to your budget and you start cutting.
If you don’t have a budget, get one together fast cause that’s ridiculous. You should have a budget.
Who doesn’t have a budget? Grow up.
Once you have your budget and you put it all together then you start making payments. I literally made well over one thousand dollars a month in payments every single month for almost two years. And I cried because I realized oh my gosh.
That’s a whole mortgage payment (or a whole rent payment) around where I live. I’m essentially paying rent for some house that I don’t even have. That’s ridiculous.
So what I did was I went in and I slashed everything. I took off everything I could think of taking off. I stopped shopping.
That’s really what it comes down to, you must stop spending money.
I know I’m sorry. I’m sorry. You know somebody’s got to real talk you into a reality. You can’t keep spending money.
You need to cut your credit card up and throw it away. This is the best example of what debt is like. You go to the store you’re ready to buy a brand-new TV and they say hey here let’s give you a coupon. You get excited about a coupon for a discount on your new TV thinking it will save you money. This is great. Then, you take your coupon and you hand it to the cashier and that coupon charges you more money.
Guess what debt is…
Paying MORE for something than it is worth because you couldn’t be patient!
So, the bottom line is, the first thing you must do is take all your credit cards out of your wallet. You need to cut them up and you need to throw them in the trash. I know it seems simple, yet difficult at the same time because then what happens to your backup plan? But the problem is… Your backup plan is putting you into an emergency all the time!
It is an emergency already…
because you’re stressed out you’re overwhelmed and you don’t even know how overwhelmed and stressed out you are until you pay your credit card off. I remember only having one thing left to pay off. It was a measly $2,000 on our car and we kept putting it off for a couple of months.
When that car was paid off I can’t even tell you the feeling that I had. At this point we had already paid all our credit cards off but the car was like the last straw. So, what am I doing right now? Yes, I am trying to pay my mortgage off early. It feels good to be out of debt. I promise you’re going to like it.
So what does all this have to do with business and with marketing? Well honestly, if I was still in debt, you wouldn’t see me here doing this. I wouldn’t have time. I would be too busy making sure that I maintained my job where I was at so that I could pay for my bills and I could pay for my credit card. There was no way I could have quit my job. No way at all. It would not even been a thought in our minds if we had not been debt free.
The minute you get debt free opportunities open, doors open, and things happen. Trust me when I tell you, take the time to get debt free right now. If you’re not already doing it, throw as much money as you can afford every single month onto your credit card and never put it back on. Cut those babies up and throw them in the trash.
You don’t need them.
You are self-sufficient. You’re an adult. You can handle your business by yourself. You do not need anybody else’s help especially not Visa or Amex.
Remember, If no one else tells you today: you are powerful, you are capable, you are unstoppable, and you are one of a kind!
Have any debt busting secrets? Share with the class, leave them in the comments below! ????