The Sun
I cleared my mortgage & £120k debt on a low income using the ‘pound job’ method
ONCE drowning in £120,000 worth of debt, Harriet has completely transformed her life. Not only has she paid it all off, but she’s also become mortga…
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From £120k Debt to Freedom: Expert Shares 5 Budgeting Hacks for Low-Income Households
Financial expert Harriet, known as 'The Freedom Finance Coach,' is sharing her proven strategies for navigating debt and low income, drawing from her own experience of clearing over £120,000 in debt, including her home. In a recent video, Harriet outlined five essential steps for those feeling overwhelmed by financial struggles. Her first crucial piece of advice is to 'prioritize survival first,' ensuring basic needs like food, shelter, and electricity are covered before addressing debt payments. She emphasized that 'debt collectors are going to have to wait for their payments, especially if your essentials are not covered first.' Secondly, Harriet advocates for a 'zero-based budget,' where 'every single pound' is assigned a specific purpose, even with limited income. This method ensures complete control over finances. Her third tip is to 'cut ruthlessly,' advising the elimination of non-essential expenses such as streaming subscriptions and takeaways, stressing that individuals are in 'survival mode' during this period. Fourthly, she urges viewers to 'track every penny' using methods like a notebook, an app, or her preferred cash envelope system, stating that 'awareness is power' as many unknowingly 'bleed money.' Finally, Harriet recommends creating a 'mini emergency fund,' even if it’s just £100, to prevent unexpected costs like a flat tire from derailing the entire budget. She concluded by acknowledging that the process 'is not easy, but it is possible because I did it too,' encouraging others to follow her journey for more tips.
The Irish Sun
I cleared my mortgage & £120k debt on a low income using the ‘pound job’ method
ONCE drowning in £120,000 worth of debt, Harriet has completely transformed her life. Not only has she paid it all off, but she’s also become mortga…
