The Debt Monster

I didn’t set any new years resolutions but after an accident prior to Christmas 2017 while overseas (more about that clumsy moment later) and coming home and realising how lucky I was to have the support of ACC in NZ covering 80% of my income while I recovered it made me think about the way I was living and I need to get this sorted!  So financially this year I have made the promise to myself to pay off all of my credit card debt AND save the $15,000 I need for one round of IVF, as someone who is somewhat a shopaholic (I mean really the Confessions of a Shopaholic movie that came out years ago starring Isla Fisher could have easily been written about how I manage my own money) so this is a big big promise to make, one that everyday I will have to remind myself of when I’m out and about and most importantly one that is going to mean breaking habits and learning to be financially savvy.

For as long as I can remember I have lived in debt.  But last week I came across a blogger under the name of and after watching just one of her YouTube vlogs she has gotten me motivated to get on top of my debt and start thinking of ways to get passive income started.  This is something I need to get on top of well before I have children especially as a single mother by choice which will mean no fulltime salary income while off on maternity leave, yep that’s a bloody scary thought.

Have you heard about the $1,000 project?   I just came across this concept a week ago which has been started by and I have to say it has gotten me pretty excited to learn more about it.  It has provided me with the goal to pay off my credit card debt and then start saving for my first $1000 for investment.   Before coming across this blog I had never thought about long term passive income instead I only ever treated it as the here and now income thinking how much I had to spend that fortnight before the next pay — hence the credit card debt.  

To achieve my financial goals I’ve set myself a few personal challenges for 2018

1.       No spend on clothes for 6 months starting 1 February

2.       Reduce the amount of “stuff” around my house that I haven’t used in quite some time .. cue TV sitting on the floor, the food processor in the cupboard that hasn’t been touched in 6 months.. you get the drift I’m sure.  This seems like cash just laying around so time to get selling

3.       Be smarter and pay off the highest interest credit cards first

4.       No using interest bearing credit cards to purchase anything for the remainder of 2018

5.       Set up an emergency savings account for those pesky moments when a medical bill comes in or the car needs new tyres

So the first credit card up has a current balance of $3678, time to start working on getting that down to $0, wish me luck 🙂

If you have any tips please share them in the comments because I have so much to learn when it comes to money and how I spend it!

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