I’m looking for real experiences and advice about getting out of debt. It could be anything—credit cards, loans, mortgages, etc. What kept you going? If you’re comfortable, share how you got into debt too. I feel like we can all learn a lot from each other’s stories. Let’s keep this honest and helpful for anyone who’s struggling. Have a good week!
Spend less, earn more, and pay your debts. Don’t get into unnecessary debt again.
Harlow said:
Spend less, earn more, and pay your debts. Don’t get into unnecessary debt again.
People have been offering $50-$100k over asking price for decades. You just didn’t notice it before.
@Harlow
It’s always been this way. Housing markets have had crazy bids for years. It’s nothing new.
@Harlow
This old article from 2020 explains it all: Shopper claims that buying clothes off Zip Pay ruined her credit rating | Daily Mail Online
> A home loan enquiry isn’t seen as risky as it’s considered a ‘good debt,’ but buy-now-pay-later enquiries are flagged as ‘bad debt.’ It’s all about the pattern of spending, which can hurt your credit score, according to Ms. Coster.
It’s simple in theory but hard in practice—stop using any form of debt. No more credit cards, no buy-now-pay-later, nothing. The hardest part is when you can’t make your bills and you’re tempted to use debt to fix it. Once you get past that hurdle, you can start saving and paying down debts. The system is designed to keep you stuck, so don’t be too hard on yourself. Reach out for help if you need it.
For professional advice, check out https://ndh.org.au/
It’s a grind, but it’s worth it. I spent years digging out of $45k in debt, mostly credit cards. Cutting my credit limit as I paid it off helped me stay disciplined. Having an emergency fund and a clear budget was a game-changer for me.
Motivation? I was almost homeless after a divorce and needed to rebuild my life. It sucked paying crazy interest rates, but the feeling of paying it all off? Amazing. Get hands-on with your budget—it’s your money, know where it’s going.
@Peyton
Yeah, budgeting isn’t just numbers—it’s about staying aware of your spending.
@Peyton
What did you spend $45k on? I feel like I’d struggle to spend that much unless it was on something big like a car.
Blair said:
@Peyton
What did you spend $45k on? I feel like I’d struggle to spend that much unless it was on something big like a car.
Honestly, it was just life stuff—bills, groceries, repairs. No big splurges, just little things adding up over years. I wasn’t tracking it well at all.
@Peyton
You had a rough divorce and still got remarried?
Start by tracking your spending. Download your bank statements into a spreadsheet and sort by type. Look for where you’re overspending (like on takeaway food) and make changes. Break your expenses into fixed costs and flexible ones, then figure out how much you can save and put toward your debts. Stick to it and update your plan often.
@Yan
Step 0 is learning how to use spreadsheets. They’re free and super helpful once you get the hang of it.
Eli said:
@Yan
Step 0 is learning how to use spreadsheets. They’re free and super helpful once you get the hang of it.
Or just use pen and paper if you’re not into spreadsheets. The math is what matters, not the method.
- Earn more, spend less, and use the difference to pay off debts.
- Focus on high-interest debts first.
- Avoid unnecessary purchases like toys or gadgets if you’re broke.
- Don’t mix finances with people who are reckless with money.
Stop wasting money on useless stuff. I see so many people struggling with bills but still shopping on Amazon like it’s a hobby.
Focus on paying off the smallest debt first. Put all extra money toward it while making minimum payments on others. Once it’s gone, move on to the next. It’s motivating to see progress. Stick to the plan and don’t increase spending until you’re debt-free.
@Finch
Highest interest first saves you money, though.