Mystery shopping – together with task apps – is one of my favourite ways to earn extra money. But it’s not easy to fit it all in when you’re juggling so much else. So how can you maximise your earning potential when you’re struggling to […]
Meal planning – on a budget – can be frustrating when you have fussy kids. You get stuck in a meal rut of what they will and won’t eat. So I’m trying some “new” recipes this week using meat as the main event with just […]
* Post written in return for financial remuneration One of my favourite ways to take a break is by camping and exploring off the beaten track. Not only is it one of the less expensive ways to take a vacation, it allows the opportunity to discover […]
I recently read The No Spend Year: How you can spend less and live more by Michelle McGagh. I’ve been left puzzled by exactly what I was spending money on prior to this debt-free journey. If you’ve not read it, it’s well worth it, as it […]
I’m conscious of the fact that I haven’t done an income report since December, and as I’ve had a pretty good couple of months I thought it was time to update that. So here is the full January to March 2019 Income Report. January Income […]
* Post written in return for financial remuneration. One thing I detest when it comes to managing finances is Insurance Policy Renewals. Which is why I’m excited to be collaborating with Cheapercover.com to let you know about their plans to change things. People want […]
For those of you who don’t know, I’m a stay-at-home mum. I have one child in school full time, and the other in preschool three days a week and with me the rest of the time. This can make things a little tricky for doing […]
The initial purpose of this blog was to document my journey out of debt. Yet, there’s a little more history behind it. Read on to find out why I started the Miss Penny Money blog. My blogging story Since 2012, I’ve dipped my toes […]
As I progress through my matched-betting journey, there are certain things that have cropped up that I think would be useful to share, especially for people who are apprehensive about getting started, or are about to start but have some reservations. Here are my Matched […]
Do you want to know the secret to mystery shopping? A few years ago, I’d heard how some people were doing mystery shopping visits, but it didn’t seem to be a very accessible market. I’m not sure if that’s because it was a well-kept secret, […]
While it’s lovely that my daughter is popular and enjoying her new found freedom of playing outside with her friends, I’m finding it increasingly annoying that so many children keep knocking at the door several times in an afternoon and evening to see if she can play out!
THIS is what happens when we get credit (see below).
You turn 18, and you apply for your first credit card, because that little leaflet you received through the post stroked your ego. ‘You’re officially a grown-up now! You’re working, and now you can apply for credit! And what’s more, you’ve been Pre-selected to apply.’ You read on to discover that this leaflet makes a lot of sense – you might face an emergency and a credit card would be really handy to have. Plus, you know, it would be nice to buy some new clothes and you’ll pay it off next payday… which you would, if you’d had lessons in money management and been educated on the dangers and pitfalls of credit cards (or, better yet, you’d not get one in the first place and would have savings for emergencies and a budget for clothes).
A few months later, you need a new car, and your parents suggest getting a car on finance. The theory goes that so long as you have a new car, you can ‘trade up’ each time you’re ready for a new one. Which isn’t really the case, thanks to depreciation and you ending up owing more than the car is worth, so with the next car you buy comes higher monthly payments. And what happens when the car gets written off? You still need to pay that loan, and now you have no car.
The story continues, and you reach your late thirties, STILL in debt and wondering why, despite being managed, (or is it?) you’ve been making debt repayments for over 20 years? It’s because despite making those repayments, you’ve been conditioned (along with the rest of society) to believe that having credit is a normal way of life and it’s the only way to get nice things. We live in a world of instant gratification and ‘I want it now’, and don’t realise the value of things. We don’t get that intense elation of having worked so hard to save up for and obtain something.
It’s time the world woke up to the damaging effects of credit, and time companies stopped pushing it on unsuspecting consumers. When all this is over, the only debt I plan on having is my mortgage.
This picture is what happened one Saturday morning while sitting crafting at the kitchen table with the kids. I knew in my head how much my debt was, but I needed it written down in colour. And I needed a plan.
So, this is my debt snowball. Let the momentum begin.
MissPennyMoney.com uses affiliate links. This means that if you click through to register or purchase something, I may receive a commission at no extra cost to you.
MissPennyMoney.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.co.uk