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Mum explains how she paid off £53,000 in debt by just spending money on four items

Amber decided to take a no spend year to clean up her finances. In a no-spend year, you don’t spend money on luxuries like clothes or going out — but you still pay your bills

Amber says a year without expenses has changed her life
As part of the “No Spend” challenge, the family stopped eating out, didn’t go to the movies, and just paid their rent, bills, groceries and insurance

A mum has explained how she scooped up £53,000 fault with help of a year without expenses.

Amber, a mother of three living in Ontario, Canada, decided to try the strict spending rule to help herself clear again with their finances.

In a no-spend year, you don’t spend money on luxury items like clothes or going out.

The only cash you part with is for essentials like groceries, bills, and commuting to work.

“It really helped our family get out of debt,” Amber explained.

“In the beginning, when we started the no-spending challenge, we were really in the middle of the year.

“I decided I was fed up with the fact that we were in debt. We had nearly $70,000 (£53,000) worth of debt.

“We lived paycheck to paycheck, and most of those paychecks went to the credit cards and loans we had just to pay off the interest.”

As part of the “No Spend” challenge, the family stopped eating out, didn’t go to the movies, and just paid their rent, bills, groceries and insurance

If you feel that a full year is too long, you can always take a smaller month with no expenses before committing to a longer stint.

Did you manage to pay off £1,000 in debt and want to share your story? Let us know: mirror.money.saving@mirror.co.uk

Amber also sold unwanted items around her house to help pay off debt faster.

That included selling her couch, kitchen tables, and TV — and even her wedding and engagement ring.

Amber said: “Anything I didn’t think was something I really loved or was absolutely necessary, or didn’t use, I just sold it.

“Then I ended up making quite a bit of money selling things that were lying around the house.

“I used this money to pay off the loans.”

How to get free debt help

If, like Amber, you’re struggling with debt, the first thing you should do is talk about it. The sooner you start tackling your money problems head-on, the sooner you’ll be on the safe side again.

There are many ways to get out of debt, so it’s important to find a solution that works for you based on what you can afford.

As a general rule, you should start by going through your finances and making a list of exactly what you owe, to whom, and how much you owe in debt each month.

Once you have your list, it should be much clearer to see the various debts you have.

There are certain debts that you should always prioritize such as: B. Your rent or mortgage.

To get free debt advice, contact one of these free organizations:

Always be wary of companies trying to charge you for debt help as you can get advice from the above companies without paying a penny.

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https://www.mirror.co.uk/money/mum-explains-how-paid-53000-26520137 Mum explains how she paid off £53,000 in debt by just spending money on four items

Fry Electronics Team

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