In this article a Financielle community member shares her personal money story with us.
From getting her first credit card at University, battling 0% interest deals, kickstarting her debt free journey and finding Financielle, this story has it all.
Tell us a little bit about your money journey to date.
Where to begin?! It’s been a yo-yo of a journey, for sure. I went to university in London which meant from the age of 18 (and from when I was in control of my own finances for the first time), things were extremely tight. The cost of living whilst I was a student was immense and that’s why I ended up getting my first credit card when I was 18. I graduated from uni with about £2000 in credit card debt and through my first job after uni, managed to reduce it right down to about £300 however I was then made redundant due to the pandemic.
After leaning HEAVILY on my £2.5K credit limit during the pandemic and unemployment, I managed to pay it down slowly again to about £600, then opened my own business! Cue the reliance on credit again when I couldn’t pay myself properly… But somehow after 11 years of changing credit cards multiple times, using 0% deals and also falling prey to high interest, I’ve now managed to completely pay off my credit cards for the first time – all thanks to listening to the Financielle podcast!
What was the trigger to make a change?
Being tired of a huge chunk of my wages going to paying off debt and feeling like it was never ending. I wasn’t making any progress on any debts because I was only managing to pay off the interest. I have an older brother who is very savvy with money and I got frustrated seeing him not worry about finances whilst I couldn’t seem to stop worrying about how I’d pay bills every month.
I can’t remember how I stumbled across Financielle but I was instantly hooked on the pod and suddenly it felt like I could be in control of my finances if I just put in the work!
What are your short and long term money goals?
Short term: be completely debt free! At the time of writing I have £150 left on my Klarna account, £5000 on my car finance and £2500 left owing to my dad (fortunately, the Bank of Dad interest rate is pretty rad!!).
Long term: have small, medium, and large safety nets, have sinking funds for all my planned expenses, and start seriously investing! I’ve also been inspired by Financielle recently to get my will and life insurance sorted so this is a work in progress too.
What do you wish you could have told your 18 year old self?
0% credit cards do NOT mean free money! Also, no you do NOT need that many eyeshadow palettes 😂
What’s been the biggest change since joining Financielle?
Despite still being in debt and having a relatively small income (self-employed life!), I’ve never felt more in control and more optimistic about my finances. I’m so excited to finish paying off my debts and move into the next phase of my financial journey – which I never thought I’d be saying!! I have planned down to the week when I’ll finish paying off my debt and can finally see a future where I have choice over how and where I spend my money – no longer chained to past debt.
Thank you thank you thank you Financielle 💜
Feeling inspired to take back control of your money too? Listen to the Financielle podcast here
The content produced by Financielle is for informational and educational purposes only and does not constitute financial advice