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How To Tackle Your Debt in 2023
Here’s how I’m working to clear my £4K+ debt
I started 2022 with less than £300 worth of debt. I’m finishing it with over £4K.
There were a variety of factors that contributed, but none of that matters. What matters is this isn’t the first time I’ve been in this position.
But I’ll tell you something — it’s not going to happen again.
Enough is enough.
I’ve created a plan and a system.
There are 2 main objectives:
- Pay down as much debt as possible
- Don’t get in this situation again (for chrissakes)
Chances are if you’re reading this you have debt too.
Welcome, it’s a safe space here.
Now let’s talk through how to tackle it together.
Find all the debt you have
Look at everywhere you have debt — credit cards, PayPal Credit, Klarna, you name it. Get it together all in one place. Write down the totals for each one and add them together.
You now know your total debt.
It’s scary but you need to do it. You need to face the reality.
Figure out where your debt came from — it might surprise you
You need to see how you got into debt in the first place. You might think you know — but trust me you don’t. It took me just one hour to work through all the sources of my debt. I added the categories together to see the main offenders. It was eye-opening.
I knew I had bought a lot of clothes this year. But I didn’t realize how much.
Almost £1000 worth. 1/4 of my debt is from clothes.
It’s my second biggest debt contributor.
I didn’t realize how bad it was. It hurts, but now I know.
You need this shock. You need to take accountability. It will help you build a system to prevent this from happening again.
Do it.
