Debbie wanted to become a getting out of debt success story, so she could have her dream of buying french doors. But first, she had to sit down and work through her debt snowball.
Debbie is another great example of my clients' getting out of debt success stories. Debbie had $8,000 of debt across six known debts, and in the process, we also uncovered four others.
Debbie wanted her debt gone, but didn’t know where to start. After going through the Debt Free Me course, she knew that getting rid of debt was achievable if she set her mind to it.
Debbie started her debt snowball in November 2015 and discovered a few extra debts, which were added to the debt snowball. She knew she had to put in larger payments to work through the debt snowball, which was challenging, but we took it head on.
We met for a coffee and snowball catch-up early on in the process, and Debbie commented “my washing machine wants my money more than me!” Her washing machine had broken down and it would cost $200 to fix it.
"I have to know where my money is going so it stops telling me what it wants me to do and it goes where I want it to go!"
That was the perfect moment to do her budget, so we did right then and there. Cue scary moment when she realised how much she had available to use on her debt snowball.
"I don’t have that much available to pay off debt!! We’ve done something wrong!"
We reviewed it and no, it was right. Which was scary, but Debbie realised to get rid of her debt she would have to start paying more money in order to get rid of the debt faster.
We worked at Debbie’s pace and while it took a couple of months to get to this level of repayment, she had still been paying her debt off and it was decreasing rapidly.
Debbie is now debt free and she did it in 10 months! This has put $600 a month back in her pocket to create the life she wants and believe me, she is enjoying it. Her french doors look great leading out to the backyard.