Advice

How I’m Paying Off My Debt Quickly

Disclaimer: This is not a sponsored post nor an ad, but I do have referral links in case you decide to sign up for Digit. I will earn some money and it won’t affect you. You can do the same when you sign up, by inviting friends.

How many blog posts can we all read about how someone paid off a crap ton of debt in just a short 6 months? Too many. I’ve read them and they always say the same thing. I’ve tried setting a budget and I’ve cut unnecessary costs (mostly). I don’t make a ridiculous amount of money, but I do share my rent with someone (which is a HUGE help).

Basically, I’m here to tell you it’s time to change your mindset about your debt. I’m talking specifically about credit card debt. I have lived off of credit cards. At one point, I bought groceries with credit because I had no other way. Once I was able to shift away from that, I still wanted things and to have fun, so I paid with credit. I didn’t have enough in my savings, so when my cats got sick, I paid with credit. I figured, “I’ll pay it off later…whatever”. Ladies and gentlemen…the first game changer was when I finally said “ENOUGH!!” and transferred my balances to an intro 0% interest rate and free balance transfer card. When I finally did that first step, the money outgoing in payments for credit cards drastically reduced. I will be 110% honest with you…I transferred those balances in January 2015 and I made my final payment October 21, 2016. It took me nearly 2 years to pay off about $2,000. What!!?? Are you wondering why…because that’s really not a lot of money when you put it into perspective. It’s because of my mindset about and relationship with credit cards and debt.

So, what was the shift? What did I change about my mindset and relationship with credit card debt? I stopped relying on it. I had recurring payments setup because I didn’t want to see it actually come out of my bank account, which is insane! I’m paying regardless and a lot more in the long run because of interest. It took me a long time to change that mindset. “Oh, $10 a month for my Adobe subscription? I’ll just put it on my credit card”. Between recurring payments and interest, I was taking one step forward (my measly $50 payment a month) and two steps back (recurring payments and interest). I finally decided I was ready to tackle my first credit card payoff head on and moved all of my recurring payments to my bank account, or I got rid of them all together (yes, it’s okay to give up Ipsy until you’re back on track).

Another confession…I have a really weird relationship with money…I hoard it. I’m very frugal and I hate making big payments on anything. Sure, I could pay a bigger payment one month instead of $50, but that is traumatizing. Does this sound familiar to you? Trust me, I don’t have a lot of money, but I always try to have cushion just in case. It was really difficult for me to change that mindset about money, so when I saw ads on Facebook for Digit, I would read the comments and reviews. It seemed too good to be true and I didn’t want to lose control of my money. When I finally signed up in July, I didn’t think this would the ultimate game changer. I figured, I would save a little money….wrong! I am paying off my debt very quickly and (nearly) painlessly.

Full disclosure, this isn’t an ad or sponsored post for Digit, I just love it that much, however I do have referral links in this post so I will earn some money if you decide to sign up and it won’t affect you. Digit uses an algorithm to track you spending and decide how much you can afford to save without really noticing. For me, they have done a great job! There was only one time I said “Whoaaa hey now!” and I simply paused saving and reminded myself, I can transfer that money anytime I need it. From July to October, I paid off about $800 that was left on my one credit card. I just paid off another chunk of another card that I need to pay off.

Using Digit has truly been the ultimate game changer for me. Yeah, it’s a little weird that they have access to my bank account, but after reading reviews, about their security, and seeing that they’ve been around for a while, I decided to give it a try. You can always tell Digit that you want to save more aggressively too. It does take a couple of days for the money to transfer when you withdraw, but there’s no penalty or fee for doing so.

I highly recommend giving Digit a try to start saving. It has helped me greatly pay off debt, and I’m looking forward to paying off another card in just a few months. I mean, you are making the new year’s resolution to save more, right? This is a great place to start and you’ll barely notice it’s happening.

Here’s a recap on how I’m paying off my debt quickly:

  1. I changed my mindset about debt! Do not rely on it
  2. I consolidated with full intentions of paying it off
  3. Paid off in big chunks, stopped being afraid of big payments
  4. I’m using Digit to help save money in order to pay off my debt

Have you tried Digit? Is it helping you?

2 Comments

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    January 15, 2017 at 2:21 pm

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    January 22, 2017 at 2:34 am

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