26-Year-Old Woman Making $45,000 A Year Reveals Four Budgeting Tricks She Used To Pay Off $20,000 In Credit Card Debt In Just ONE YEAR, Without Cutting Any “Extra Spending”
- Lexa VanDamme, 26, revealed how she paid off $20,000 in credit card debt
- US content creator and budget expert was making $45,000 a year
- He shared all four hacks on a TikTok that has had more than 124,000 views.
A woman has revealed how she became a budgeting expert and paid off $20,000 in credit card debt in just one year, all while earning a salary of just $45,000.
Lexa VanDamme, who is the CEO of The Avocado Toast Budgettook to TikTok to detail the four tricks that helped her get rid of her debt once and for all.
He smart 26 year old shared who got serious about her spending habits after she got too friendly and racked up $20,000 in credit card bills.
In a viral video that garnered more than 124,000 views, the US-based content creator detailed how she paid off her debt without eliminating “all the extra expenses.”
Lexa took to TikTok to detail the four hacks that helped her get rid of her credit card debt once and for all.
She revealed how she became a budgeting expert and paid off $20,000 in credit card debt in just one year while earning a $45,000 salary.
In a viral video, the US-based content creator revealed how she paid off her debt by not spending money on her credit card and refinancing a personal loan.
Get rid of debt forever! Lexa’s four tricks that helped her pay off her debt
- Stop spending money on credit cards
- Refinance to personal loan
- Start a budgeting system such as the zero-based budgeting method
- Do not eliminate all additional expenses
She captioned the clip: “A breakdown of how I paid off $20,000 in credit card debt in just one year.”
Lexa began by giving her more than 478,000 followers some background on her situation.
“For perspective, I was making about $45,000 a year, living in a two-income household, and we had no children,” he explained.
Lexa’s first piece of advice was to stop stealing her credit cards.
She said, “Number one, I stopped spending money on credit cards, at least while I was trying to pay it off.”
He then said he refinanced it with a personal loan, which the budget expert added helped “lower the interest rate,” making it easier to pay.
As a third piece of advice, he recommended that his followers tailor a budgeting system that felt right for their specific situation.
‘Number three, I got a budgeting system that works for me. At the time it was a zero-based budget, but really whatever works for you, that’s what you should do,” he explained.
Zero-based budgeting is a method that requires all expenses to be allocated and approved.
He also recommended his followers to find a budgeting system that works for them and not eliminate all extra expenses.
Viewers flooded her comments section with words of praise, noting that her story had ‘inspired’ them to take control of their finances.
It’s a system that involves starting from scratch each time, rather than starting with the previous period’s budget and changing it as needed.
Her latest stunt saw her continue to enjoy some of the things she loved while staying on budget and working to pay off her debt.
‘Number four, I didn’t eliminate all the extra expenses. Instead, I just cut out the expenses that didn’t really matter to me, that way I could still spend money on those things that I loved, like iced coffee,” she explained.
Viewers flooded her comments section with words of praise, noting that her story had “inspired” them to take control of their finances.
‘This is so inspiring! I’m in a similar stretch trying to pay off all of mine in a year,” said one user.
Another person added: ‘I love it! My husband and I are trying to pay off a credit card with 21 percent interest. (We) did a balance transfer to a zero interest card for 18 months.’
‘I have $20,000 in credit card debt and have been thinking about getting a personal loan,’ another person wrote.