How I cleared my £20k debt – BBC Stories


I think when you’re in
your early twenties it’s just something nobody
ever really talks about. Everyone always talks about having stuff and getting stuff but not quite the money
they’ve spent or how they got the
money to get it. I had payday loans, credit cards, store cards, and I probably owed my
best mate £50. I grew up in a council flat in north London
with my mum and my younger brother. I had two or three jobs from
when I was about 16. My mum got really, really ill and
was physically unable to work. When I got to 19, I was working with a friend who introduced me to my
very first payday loan. It was £200, and I think I had to pay back
something like £290. Which at the time didn’t seem so bad. The problem was, when I paid
the £290 back I was £290 down. So I needed to borrow £300, and then it just completely spiralled. The favourite place for everyone
to go for drinks after work was a cheeky Wetherspoons. I remember having a massive
irrational fear of buying a round. Because if I went out with everybody else I just would not be able
to afford to do it. I remember the day I got it, I remember that night we went to Wetherspoons and the drinks were on me. I think part of it for me was that at 16, 17 and 18 I was working so many jobs, looking after my mum, and I had such an overwhelming responsibility to grow up quickly. So when I had this chance to live, and to do all these things that my
friends did, probably years before me I just grabbed it. It took me probably about two or three years to get into about £18,000 to
£20,000 worth of debt, and it took me five years to
pay that back off. I was 22 when I got pregnant. And it was the most life-changing thing
that happened to me because I was forced then,
to really take control. I wrote it all down in a notebook and
was really, really honest with myself about how much I owed. And at that point I thought,
“Right, let’s take some action.” I was working all day in an
office as a temp, and then I’d work in a pub all evening. I started doing car boot sales, I started selling things on eBay, I went online and I found this website where you could respond to
saucy text messages and get paid per message. I think it was only something like 15p a text which doesn’t sound like a lot, but you would send hundreds
and hundreds and hundreds. I used to get a good few
hundred quid a month and then use that to chip away at more debt. I probably felt a little bit guilty that the people texting in thought I was
some real hot, sexy, you know, beautiful woman. And actually I was just sat on the sofa with
a baby attached to my boob. In that eight months I think I probably managed to
work my way through more than half of my debt. Which sounds crazy, but I literally went so hard
at paying everything off. I did that for some time and
was managing it okay but I still wanted to investigate ways
that I could pay things back quicker. And that’s when I did debt snowballing. I obviously haven’t got snowballs. But I’m a girl who likes herself some cake, so I’m going to explain it to
you in cake slices. The first thing I did was
organise my debts from smallest to highest,
regardless of interest rate. You make the minimum payments
across all of your debts, except for the smallest, where
you pay as much as you possibly can. You then repeat this process until
you’ve cleared your debts in full. This way doesn’t necessarily feel quicker… psychologically it felt
so much better. I don’t think there are really words
to describe how liberating it is to be debt-free. In total I think it probably took
me almost five years which sounds like a really long time, but honestly it was the best decision I made.

14 comments on “How I cleared my £20k debt – BBC Stories”

  1. Pangerwati Ozukum says:

    What's s sexting?

  2. EgoBeatusSum says:

    Is this video talking about how she went screwing around to pay her debt??🤔

  3. hfredydl says:

    Oh you whored your way out of debt! How original

  4. Rolling Stone says:

    SPOILERS: She's a hoe.

  5. Bild dir meine meinung says:

    She look like the Santa from the syfy-show Happy!

  6. Briella B says:

    wow everyone is so judgemental

  7. Raymond says:

    she finally used her degree for good use

  8. fenixriver _ says:

    This is called women empowerment in the 21st century.

  9. ishant 7 says:

    And then they wonder why #MGTOW is growing

  10. John Doe says:

    01:34 Having a fear of buying a round of drinks isn't an "irrational fear" if you can't pay for it!! 🙂

  11. Brian Fong says:

    0:54 She needs better friends with more financial knowledge.

  12. Texas_Raised_ Texas _Made says:

    Why do sone females feel any way to make money is to ONLY subject themselves to sexual things? You cant blame the men either because YOU chose to do this..theres too many online jobs and hustles to do JUST this.

  13. jason4275 says:

    If she lost weight she would be a 10.

  14. Bogdan says:

    Interview is amazing despite the clickbait name on it

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