A WOMAN has revealed how she paid off £25,000 in debt in less than a year by making just a few small changes.
Anna often shares saving tips and advice about her youtube channel and revealed the secrets to paying off her massive debt in just 11 months.
In the video, Anna said: “I encourage you to use any or all of these tips because while it’s not easy, it’s possible.
“If I can do it, you can do it! I really hope you can pay off your debt as quickly as I can.”
Here we share Anna’s top tips to achieve financial freedom.
Anna says: “The first thing I did in this category was lower the interest rates on all my debt, credit cards, loans and the like.
“One thing I didn’t know is that you can move things from one 0 percent credit card to another 0 percent credit card for free.
“I always pay the fee while moving things. One of my friends told me they never do, so I looked up the credit card deals you can switch to
“One of my 0 percent cards that was running out – I figured I’d either have to pay to move it. It’s usually a three or four percent fee, or you just pay it off in full.”
Anna then used the money she would have paid to pay the fee on her loan and minimized the total interest she had to pay.
Stop buying certain things
“I didn’t give up everything because I need certain things in my life to be happy, so I stopped buying certain things and just reduced others,” she says.
She dropped small luxuries like coffee and takeaways, which meant she had extra cash to put away each week.
Decrease going out
Anna says: “I have massively reduced the frequency with which I ate out and drank.
“When you work an office job and live in London it’s really easy to be busy all the time and it really adds up
“I didn’t want to become someone who never dates. I just learned to say no and prioritize what I want to do.”
Food inventory and meal plan
“This involves very regularly taking everything you own out of the cupboards and freezer and writing down everything you have and their expiration dates.
“Use this to plan your meal plan for the week or two ahead.
“This has massively reduced my food waste and lowered my monthly grocery expenses.”
Increase your income
“I applied for a promotion at work.
“I was fortunate enough to be successful, which increased my income, and all of those extra expenses I got I put right into my debt and made sure I didn’t have lifestyle inflation.
“I got two additional zero-hour part-time jobs. That might sound like a lot, but since it was zero hours and I could choose when I wanted to work, it really wasn’t that bad.
“My main role is very mentally stressful and mentally demanding, whereas these were more physical jobs in bars and restaurants.
“Last but not least, it was a nice change of scenery, I met new people and earned some extra money. I was paid about an extra £300 a month and there was no commitment.
“Plus I made around £100 in a week looking after pets and it really wasn’t much of a hassle as long as they were local.”
Anna also sold valuables she no longer used to rake in some extra cash, including £90 for a Go-Pro.
Maximize your credit card benefits
“I used an American Express card which gave me Nectar points which gave me around £150 worth of free shopping at Sainsbury’s.
“It was huge, because whatever money I would have spent on groceries, I put it straight into my debt.”
https://www.thesun.co.uk/fabulous/18050227/paid-25k-off-11-months-how-you-can/ I paid off £25,000 worth of debt in 11 months