How This Woman Paid Off $19k In Debt In 2023 Posted by Megan Liscomb Last Updated: December 15, 2023 How This Woman Paid Off $19k In Debt In 2023 Paying off debt can be really, really hard — just ask me about the time it took four years to pay off $2k on my credit card because random emergencies just kept happening. So when I came across Atlanta-based Angela Szot’s (@vomitgrocery) videos about how she paid down a ton of debt in 2023, I had to share her story. In a TikTok video, Angela explains how she took on a no-buy year challenge in 2023 that allowed her to pay off over $19k in debt. Even more impressive, she told BuzzFeed, “I’m a baker who works just about 40 hours a week and makes under $45k a year.” In the video, she shares how she uses a notebook to manually track her income and expenses, saying, “I am not a smart finance girlie. I do not know how to use spreadsheets. I got this $2 notebook from Walmart and it’s been my lifesaver.” I always say, the best budgeting tool is the one you’ll actually use, so if you love a notebook, use a notebook! She dedicates three pages to each month. On the first page, she tracks her bills, income, and total debt and savings. She uses the second page to track her spending in various categories, and the third page is for her end of the month totals. And in a follow up video, she explains the rules she set for herself for her no-buy year, noting that, “these rules are super harsh just because I’m trying to get out of debt so fast.” For 2023, Angela resolved not to buy any new skincare unless she ran out of a product, no new makeup at all, no new clothes unless she needed them for work, no new books, no plants, no art supplies, no nail appointments, and no home decor. But, very importantly, her plan also made room for some little treats now and then so she wouldn’t feel deprived. “I get cash tips every two weeks. It’s not a lot, but it pays for like three coffees and that’s fun. I can buy a candle, oil, or incense but only one at a time and only when I run completely out of it.” Her plan also allowed for a few cute toys for her dog and takeout once a week. In addition to her no-buy rules, Angela also downsized her living space in 2023 to pay off debt faster, moving from a one bedroom apartment into a rented bedroom in a larger space. This move took her rent down to just $700 a month. In the comments, people praised Angela for opening up about her financial journey and for her relatability. And there are also tons of people cheering her on: Her story is even inspiring others to try a no-buy experiment: Angela told BuzzFeed that she chose her no buy categories because she was so ready for a change. “I was noticing that I was getting cranky and annoyed with myself about the same things over and over. Food waste, buying art supplies and never touching them once I got home, my plants constantly dying and me retrying. Lol, I was sick of myself, and it was time to do something about it.” As someone who’s killed 99% of the plants I’ve ever owned, I felt this in my soul. As for the hardest part of her no buy year, Angela says, “The hardest part of this challenge for me is not buying trinkets and home decor. I’m a homebody and adding new elements and pieces to my space brought me a lot of serotonin.” But she had a great motivation to keep herself on track. “The easiest part of this challenge is knowing everything I’m doing this year is for little 6-year-old me. She deserves the entire world, and I’m going to give it to her.” (Can I just say how much I love that???) If you’re thinking about trying a similar challenge yourself in 2024, Angela says, “My advice would be to make realistic achievable goals and come up with your plan, write all of your rules down, make your final purchases that will help you stay true and on track, and then start immediately. But remember that gratification isn’t always instant.” If a no buy year sounds intriguing but you feel like it’s not the right challenge for you, you might try what I do: no buy days. Two or three days a week, depending on my current goals, I don’t buy anything unnecessary. And if I have a larger goal, I’ll try for streaks of no buy days to see how long I can go. Did you reach a big financial goal in 2023? Or is there a goal you’re working toward for 2024? Let’s talk about it in the comments. Source link
Paying off debt can be really, really hard — just ask me about the time it took four years to pay off $2k on my credit card because random emergencies just kept happening. So when I came across Atlanta-based Angela Szot’s (@vomitgrocery) videos about how she paid down a ton of debt in 2023, I had to share her story. In a TikTok video, Angela explains how she took on a no-buy year challenge in 2023 that allowed her to pay off over $19k in debt. Even more impressive, she told BuzzFeed, “I’m a baker who works just about 40 hours a week and makes under $45k a year.” In the video, she shares how she uses a notebook to manually track her income and expenses, saying, “I am not a smart finance girlie. I do not know how to use spreadsheets. I got this $2 notebook from Walmart and it’s been my lifesaver.” I always say, the best budgeting tool is the one you’ll actually use, so if you love a notebook, use a notebook! She dedicates three pages to each month. On the first page, she tracks her bills, income, and total debt and savings. She uses the second page to track her spending in various categories, and the third page is for her end of the month totals. And in a follow up video, she explains the rules she set for herself for her no-buy year, noting that, “these rules are super harsh just because I’m trying to get out of debt so fast.” For 2023, Angela resolved not to buy any new skincare unless she ran out of a product, no new makeup at all, no new clothes unless she needed them for work, no new books, no plants, no art supplies, no nail appointments, and no home decor. But, very importantly, her plan also made room for some little treats now and then so she wouldn’t feel deprived. “I get cash tips every two weeks. It’s not a lot, but it pays for like three coffees and that’s fun. I can buy a candle, oil, or incense but only one at a time and only when I run completely out of it.” Her plan also allowed for a few cute toys for her dog and takeout once a week. In addition to her no-buy rules, Angela also downsized her living space in 2023 to pay off debt faster, moving from a one bedroom apartment into a rented bedroom in a larger space. This move took her rent down to just $700 a month. In the comments, people praised Angela for opening up about her financial journey and for her relatability. And there are also tons of people cheering her on: Her story is even inspiring others to try a no-buy experiment: Angela told BuzzFeed that she chose her no buy categories because she was so ready for a change. “I was noticing that I was getting cranky and annoyed with myself about the same things over and over. Food waste, buying art supplies and never touching them once I got home, my plants constantly dying and me retrying. Lol, I was sick of myself, and it was time to do something about it.” As someone who’s killed 99% of the plants I’ve ever owned, I felt this in my soul. As for the hardest part of her no buy year, Angela says, “The hardest part of this challenge for me is not buying trinkets and home decor. I’m a homebody and adding new elements and pieces to my space brought me a lot of serotonin.” But she had a great motivation to keep herself on track. “The easiest part of this challenge is knowing everything I’m doing this year is for little 6-year-old me. She deserves the entire world, and I’m going to give it to her.” (Can I just say how much I love that???) If you’re thinking about trying a similar challenge yourself in 2024, Angela says, “My advice would be to make realistic achievable goals and come up with your plan, write all of your rules down, make your final purchases that will help you stay true and on track, and then start immediately. But remember that gratification isn’t always instant.” If a no buy year sounds intriguing but you feel like it’s not the right challenge for you, you might try what I do: no buy days. Two or three days a week, depending on my current goals, I don’t buy anything unnecessary. And if I have a larger goal, I’ll try for streaks of no buy days to see how long I can go. Did you reach a big financial goal in 2023? Or is there a goal you’re working toward for 2024? Let’s talk about it in the comments.
