If a person is burdened with debt, then living life also becomes difficult. If the salary is so much that paying the loan EMI does not seem heavy, then life goes on smoothly, but if the debt is high and the income is low, then the person has to work very hard. A woman from England also had to do the same, who lives with her husband and a small child. She had a loan of Rs 11 lakh (Woman sell rubbish for cash pay debt). He had only Rs 500 left in his account. But despite that, the woman freed herself from debt by repaying the loan within just one year. But how did all this happen?
According to The Sun website report, 28-year-old Chloe Godland lives in Leicester, England with her 33-year-old gym trainer husband Jack Gordon and 2-year-old daughter Clemmie. She also brings up a 15 year old child, that is, she bears all his expenses. Husband earns Rs 30 lakh in 1 year. Around Rs 2.5 lakh every month. According to India, this amount may seem high, but according to England it is much less. Both of them live in a 2 bedroom rented house, the rent of which is 750 pounds, i.e. about 79 thousand rupees.
The woman used many methods to repay the loan. (Photo: The Sun)
Couple’s loan starts increasing
He used to put only 5 thousand rupees in emergency fund every month. But in November 2022, a big problem came upon him. The situation had become such that after paying the loan amount and other expenses, only 500 rupees were left in his account. The next salary was about to come and ration was also available for only a few days. He had 3 credit card loans and an additional loan of Rs 3 lakh on his head. When at one time he felt that he was buried in the quagmire of loans, then he decided that he would start saving.
This is how the loan was repaid
The best option they found to save money was to live a frugal life. For 1 year, the couple did not buy anything new for themselves. Chloe said that they bought things from second-hand shops. They even bought their undergarments and other clothes from charity shops or shops selling second-hand goods. By doing this, they were paying off their debts with the money they were saving. They also bought clothes and toys for their child from second-hand shops. Apart from this, they organized clothes swap parties at home with their friends. Friends would gather in this party and bring along clothes that they did not need. After that, they would exchange those clothes among themselves. In this way, everyone would have different clothes and they would realize that they were new. They also earned a lot of money by selling household junk. At night, she would look at the dustbins outside other people’s houses, and then she would sell whatever she found usable or worth selling. Sometimes she would make gifts from people’s old or used items and sell them online. After living like this for 12 months, she is completely debt free. She paid off her credit card bill and has vowed to herself that she will never touch a credit card again in the future.
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FIRST PUBLISHED : May 22, 2024, 08:01 IST