How did you pay off debt on your own?

Hello~ Hello everyone, I am Xiao Li. Why did I choose to answer this question? Let me introduce myself first. I once owed 50,000 yuan because I paid for it myself during my graduate school. Living expenses and part of the tuition fees, although I saved some money while working for a year before going to graduate school, almost all of it was used up during the preparation period. Even though I did a lot of part-time jobs and internships during graduate school, it was still difficult to maintain daily expenses. Living on credit cards, often demolishing one thing to make up for the other, I went through a very exhausting graduate school.

Although the highest debt was not very high, I was really fed up with this life of constantly tearing down the wall to pay for it, so I learned from the painful experience and started my repayment journey and in this In the process, I also learned a lot of tips on how to save money, so I will share with you my three points on repayment and some tips on how I learned it. I hope it can help friends who want to save money or pay off debt. A reference to achieve positive finances sooner.

I summarized my debt repayment process into three points: 1. Control spending:

Don’t hoard: sort out all the items and let yourself know what you have. You can find a lot of things and how long they can last, so you don’t need to stock up in advance;

Don’t buy anything except food: if you want to buy something, you have to consider it over and over and choose the cheapest one (although it will waste some time) , but people who are in debt have no choice). During the time when I was paying off the debt, I didn’t buy anything like clothes, shoes or bags for about 10 months, and I never had a meal worth more than 100 yuan;

I won’t go Pay attention to promotional activities, resist shopping, if you really can’t bear it, uninstall the shopping software?;

Keep purchase records, review purchases, analyze what is worthwhile and what is not, and achieve cost-effective consumption;

Gathering wool: Things that can be free never cost money. If you want a cup to drink water from, go to the roadside and do an event to get a free cup; if you want to watch a movie, sign up for a movie screening event; often go to the mall to get free samples of cosmetics and skin care products; if you want to dye your hair, just Become a hair model. It not only enriches life, but also reduces living costs. 2. Reduce debt:

Every month, sort out the data to be repaid this month and the remaining amount to be repaid; control the use of credit cards (because there is no savings during the debt repayment period, so you can only rely on credit cards to maintain spending) at regular intervals. I will look at the credit card statement; if the credit card is not repaid to the minimum, it is divided into the minimum number of installments, or it is not paid off in one installment. 3. Work hard to save money:

When you receive your salary, put the money in different bank cards and spread it into different accounts, so that you will not give yourself the illusion that you still have money to spend; the remaining money is disposable The money is placed in one-month, seven-day financial management and cannot be withdrawn at any time, but there is a certain degree of flexibility.

In addition, we must also learn to avoid falling into debt again. I have paid off the credit cards I had when I graduated and the debts of some relatives and friends, and have saved 30,000. Saving money is really difficult, especially in the initial accumulation stage, but when you start to go from being completely in debt to being able to have a small amount of savings, believe me you will look at many things differently, and mentally you will become accustomed to increasing revenue and reducing expenditure. You won’t see saving money as something difficult to do.

I think paying off my debt this time has made me more aware of the traps of consumerism and the importance of minimalism. Of course, saving money is important, and it is also necessary to spend moderately to please yourself. No longer in debt, not only will it make life easier, but it will also affirm our own life and make our life more selective

I am Xiao Li who works hard to save money, more Daily money saving in Xiaohongshu: Xiao Li’s money saving diary