I paid off £7.8k debt in three months thanks to my three-rule method…it was easy once I realised where my cash was going
A WOMAN has revealed that she paid off a staggering £7,800 worth of debt in just three months thanks to her simple three-rule method.
Michelle, a mother from the US, explained that it was fairly straightforward once she realised where her money was really going.
She shared that keeping to a budget was key – and earning extra income really helped.
Sharing her advice on social media, the now savvy saver expressed: “I wouldn’t have paid off this debt without these three things (I did it all while pregnant too!)”
She then said: “How I paid off $10,000 [£7,800] worth of debt in three months.”
The first step, according to Michelle, is to keep track of her finances through a budget.
She shared: “I live and breathe by my budget.
“I had to get serious about where I was spending my money.
“Then I was able to create a budget that allowed me to spend at least $1,000 [£785] of my full-time income towards my debt.”
Not only this, but Michelle explained that having extra income from an online business also helped her to pay off her debt quickly.
She added: “I have a side hustle. I have my own online business.
“I was able to take $1,000 [£785] dollars of my profits from my business to also put towards my debt.
“So combined that with my budget from my full-time job, that’s about $200 [£157] per month.”
Finally, Michelle’s third tip really made a difference in how fast she paid off the debt, as she concluded: “I put any extra money I receive towards my debt.
“The final piece – I received a bonus from work and I put all of it into my debt pay off.
“That was really hard, and I still have more to go.”
Michelle later added: “This debt pay off has been a huge part of my life lately.
“I gotta share about it and help others do the same.
“It won’t be an easy road but it’s so worth it.”
The TikTok clip, which was posted under the username @yourhumandesignmom, has clearly left many open-mouthed, as it has quickly amassed 29,900 views.
Social media users were impressed with Michelle’s ability to pay off her debts and many took to the comments to express this.
One person said: “Well done!”
Another added: “SO PROUD OF YOU.”
Whilst a third commented: “I used my bonus towards mine as well. It was tough but worth it and it is what it is.”
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