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financial freedom

Mather Fox: columnist with LCCMedia

Till Debt Seperates us | Mather Fox

Here is the cool part, my first option was to use the insurance money to buy another car and incur more debt. Instead of doing that, I decided to pay off my loan and significantly decreased my loan figure. At that moment, I decided it was better to use public transport than drowning in debt. I was ready and prepared to brave the crispy, harsh cold weather of Alberta than owe money and pay those ridiculous interest charges, among the other expenses of having a car.

After paying the $12k to the loan, I still owed about $6k. I am doing my happy dance now as I remember the feeling I had when I was debt free within six months, and debt was not strangling me anymore, and I could breathe again.

Mather Fox: columnist with LCCMedia

Till Debt Separates Us | Mather Fox

My second strategy was to find a better-paying job, and I found it. My first mission was to pay off my $11000 line of credit and credit card, and I was tired of throwing money in the drain by paying interest charges. These two strategies put me out of my misery. For the first time, my income exceeded my expenses and made it possible for me to pay lump sums to my credit card and line of credit.

My full-time job, part-time job, and skin health side hussle made this possible, and cutting my household expenses contributed. With my $11000 debt wiped off within 12 months, I sighed in relief. For the first time, after leaving home nine years earlier, I managed to save money and bought a ticket for my six weeks vacation in Zimbabwe.

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