There are a lot of things I talk about on my blog. Here’s why Tackling Debt isn’t one of them.
There are a lot of things you will find on my blog. How to save money, how to make money, thrifty recipes. But there is one area of personal finance I’ve not really written about. I don’t really talk about Debt.
I actually realize that I am extremely lucky never to have been in any debt. Other than a small mortgage we have no debt and have quite a large savings pot should anything go wrong or should we encounter unexpected redundancy (a prospect made all the more scary by the fact we both work at the same very small business). Yes, it’s taken sacrifices to get here, but I am proud of where we are, how far we’ve come and what we are doing each month to achieve our goals.
People end up in debt for lots of different reasons. Sometimes it is through bad habits and stupidity. More often than not it is from literally not being able to make ends meet. And then not being able to meet the minimum payments and then incurring more and more debt in continuing downward spiral. Not wanting to talk about debt and lack of financial education can often also play a part.
I want to write from experience
Because I’ve never personally experienced being in a large amount of debt, it’s not something I feel I can comfortably write about. Almost everything I write about here is my own experience, things I do every day and every week to make and save money. I can give you tips to start saving money on your groceries, make a bit extra from around your home or use your leftovers to make amazing meals. While I have some ideas on tackling debt, none come from personal experience which I think is important when talking about such a huge issue.
There are also so many amazing personal finance blogs out there that do talk about debt; in depth, in detail and from people who know what they are talking about. People who have experienced it personally and are making changes to tackle it head on. Their experience is far more valuable than anything I could say.
So here are my three favorite blogs and blog posts on tackling debt.
This beautiful and heartfelt letter sums up all the feelings and emotions that being in debt can cause. I’m sure anyone reading it who is starting their journey to being debt free will be able to relate. Check out the rest of Francesca’s blog too for lots of fantastic work from home ideas.
‘Raised in a family who didn’t spend money they didn’t have, I was so ashamed to find myself in debt. Seeking help and facing the reality of my situation is the best thing I ever did though. It’s turned my life around and been a real education. My only wish is that I did it sooner. Please don’t bury your head in the sand like I did-start that journey out of debt now!’
Vicky has also written a book how she cleared half of her debt by taking part in television quiz shows. You can find it here.
Likening debt to being in Prison, this post sets out simple steps to begin your debt free journey. While the author has only had mortgage debt, this is still a great a post.
‘The escape from Alcatraz wasn’t a 1 man plot- it took 3 of them working together. You don’t have to do it alone. Make your journey easier with help’
If you are in serious debt and don’t know what to do, please seek help. There is so much support out there.