In today’s blog post, Cheryl from Frugal Me Free shares the story of how she paid off over £15,000 debt in 4.5 years. Read Cheryl’s inspiring story, along with her top tips for anyone wanting to get started on their own debt-free journey.

DEBT STORY: How I Paid Off £15,000 In 4.5 Years

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Tell us a little bit about yourself.

I’m Cheryl, a mum of two and work as an Analyst. I used to be a big spender but now love a simple lifestyle.

How did you get into debt? 

I spent more than I made each month, I would buy takeaways when I couldn’t be bothered to cook, spend a fortune on going out to lots of places and bought lots of clothes I often never wore.

What motivated you to embark on a debt-free journey? 

I want to buy a house and have financial security.

DEBT STORY: How I Paid Off over £17,000 In 20 Months

How did you get out of debt? 

So many things but the main two rules I used were, not applying for any more credit (even when the car broke down and I had to buy a new one) and keeping my bills as low as possible by conducting annual bill audits.

Share 3 lessons you learnt on/from your debt free journey? 

1. To save for a rainy day as there will always be unexpected expenses
2. Breaking a paycheque into weekly amounts helps to make the money last the full month
3. To save first before spending

What resources and tools helped you on your debt-free journey? 

Debt free community, podcasts and financial books.

What advice would you give to anyone wanting to pay off their debt? 

Start small and keep going no matter what setback you face. It all counts, it’s only when you look back you will see how far you’ve come.

Follow Cheryl on Instagram.


More Like This:

If you enjoyed this post, ’DEBT STORY: How I Paid Off over £15,000 In 4.5 Years, then you will also enjoy my other blog posts on similar topics. Check them out below:

1 – DEBT STORY: How We Paid Off £21,000 Debt In 8 Months

2  How I Paid Off £16,000 debt in 18 months