Welcome to Debt Elimination Tips – a regular series here on Disease Called Debt where I share my favourite debt busting tips with you to help you pay off your debt faster.
As for unforeseen expenditure, there is a really easy way to avoid that getting in the way of your debt repayment. Debt expert Dave Ramsey says to put away around ?600 ($1000) for emergencies before starting to repay your debts. I know what you mean Lisa – saying no to friends is a tough one – but your real friends will still be there once your debt has gone! However, if you want to get out of debt, then actually doing that must become your main priority.

Attend the social gatherings that you really want to by all means, but make sure your debt is being dealt with first. Getting an emergency fund set up to deal with the odd higher than expect bill or financial emergency is critical to the success of your debt repayment. Personally, our emergency fund started at ?500 and then we made monthly payments into it of just ?30, allowing us to concentrate on repaying our debts whilst also being able to pay any unexpected bills. Don’t allow instant gratification or unforeseen expenditure to cloud your judgement over whether to skip a month or two of debt overpayments. I’m rooting for you and your daughter and hope that debt freedom will be within reach for you sooner than you think.

One of the reasons I am starting over again is because of losing focus, not just on repaying debt but on writing about it as well. The prize of becoming debt free will totally be worth every sacrifice you make now – and that includes saying no to your friends when they ask you go out to dinner and even turning down invitations to certain special events.

Motivation and goals
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