If you’re a member of my Facebook Group, you’ll already know that recently I have been finding my Financial Journey really difficult and am seriously lacking motivation.
I find that nobody ever talks about how being Debt Free is NOT the end of a financial journey but is the start of one. STAYING Debt Free is (in my experience) just as difficult as BECOMING Debt Free.
Unless I am the only person on the planet struggling with this (and I’m pretty sure I’m not!) then I hope this post will be helpful to someone else.
A few months ago, I decided to try and use a credit card sensibly, by buying all of my food using the card, and paying it all off in full. Well, fast forward a month and I now have £1k on the card and not enough money to pay it back in full. Plus, I had Direct Debits to pay and not enough money in the bank to cover them.
So, having learned my lesson, I am now trying to get back on track. These are the 4 things I am doing to help me:
- Cut up that Credit Card!
This was the first thing I did once I got my act together. I would love to be one of those people who can use a credit card responsibly, and maybe I will be one day, but at the moment I am not. So, to stop myself getting further back into debt, I cut it up.
- Get back to Budgeting.
While I was spending frivolously, I abandoned my budgeting altogether. I have gone back to writing out my fortnightly budget as I feel like this always helps me to see where my money is going, and how much I can spend/save/pay off debt.
- Meal Planning!
I normally ALWAYS meal plan, as you can see here: How I meal Plan.
But with buying so much food and takeaways, I just totally fell off the wagon with meal planning. I KNOW this saves me money, as I have done it consistently for months while paying off my original debt, so I know I can do it again. It saves me time and effort as well as money.
- Sharing my mistakes.
It’s really important to me that I don’t keep this kind of thing a secret. For me, not admitting to it means that it’s not really happening, and I can keep getting away with it. I told the members of my Facebook Group that I was struggling and asked for support. I was worried about being a disappointment to them, as they were so supportive during my Debt Free Journey the first time round. But they were amazing, and I needn’t have worried.
Hopefully some of these strategies can help you if you find yourself in a similar situation. I know what I need to do, and I am doing it to the best of my ability. I am aiming to be Debt Free (again!) by the end of September.