ONE WOMAN has revealed how she managed to pay off a whopping £30,000 in debt in just five years.
Julie Haneline, who is from South Carolina, brought in the huge amount debt because of student loans, credit cards and buy a car.
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Now she owns four houses and saves an impressive £1.3k a month – and she’s shared her top tips on how she did it.
In a video shared with TikTokthe money saving guru starts by explaining how the first important step is to have self-discipline.
“I said no to a lot of things I really wanted,” she explains.
“I have not spent months, no shopnot eating out –
nothing absolutely necessary, really, for a whole month – and normally it’s the month of January.”
Next, Julie recommends taking on some new side business.
“Every dollar I made from my regular job, I spent on debt,” she says.
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“So if you have to work two jobs, that’s okay — it’s only temporary.”
The money guru then emphasizes the importance of budgeting.
“The better you understand where your money goes, the better you can control it,” she explains.
“I promise if you don’t budget, you’re overspending in at least one category.
“I’ve made huge sacrifices.
“I’m talking about life with family and friends.
“I lived in my girlfriend’s sunroom with her cat.”
She continues, “I wouldn’t recommend this, but I even lived with a Craigslist roommate for a while.
“That used to be when it was even more normal!
“I listen to any money podcast, money book that would motivate me and help me learn.”