People Who Got Out Of Debt - Business Insider

Who she is: Cait, 27, of Vancouver, British Columbia is the?managing editor of a startup.?

Her debt wake-up call:?"When I was 25, I found myself totally maxed out. I had $100 in my bank account and maybe another $100 of wiggle room on my credit card and all of it had to last me 6 weeks. The?feeling of being maxed out sparked something in me. I knew I couldn't hide from it anymore and that I had to make major changes."

How she paid it off: ?No 20-something wants to move back in with their parents, but Flanders bit the bullet and spent six months living rent-free with Mom and Dad. "There?were no more dinners out, drinks with friends, weekend getaways, shopping trips, etc. I basically sat at home and occasionally went for a $5 coffee date with a friend," she says. "And I can't lie - it sucked! But I paid off $10,000 in those 6 months, so it was worth it to me."?

From then, she moved back out and stuck to a hardcore budget, tracking her spending for three months. Luckily, she was also able to commit two sizeable income tax returns to her debt. She's been debt-free since May 21, 2013.

Source: http://www.businessinsider.com/people-who-got-out-of-debt-2013-6?op=1

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