Kathy

Kathy – spending when you should be saving

Kathy says her four year journey to debt freedom “isn’t overly exciting”. But Consolidated Credit believes every story that involves someone overcoming their debt and changing their lives is special and worthy of praise. This is Kathy’s story in her own words…

Kathy was a victim of confusing wants and needs…

Debt became a problem simply by living beyond my means; always thinking I “needed” stuff, when it turned out to be merely “wants”. Looking back on it now, I wonder “what was I thinking”. I spent so much money unnecessarily when I should have been saving for my future.”

But the credit card companies weren’t concerned about her spending habits…

“I found credit card companies love people like me and kept increasing my limit each time I maxed out. Then I’d get laid off from various jobs and used the cash feature of cards to pay my mortgage and other daily expenses. I never saved up to create an emergency fund that would have given me a buffer when I lost my job. I was basically living paycheque to paycheque so each time my income was reduced or eliminated, I turned to credit to survive.”

Soon, she had accumulated a mountain of debt…

“I always thought I could handle debt on my own, but turned to the equity in my condo until that no longer became an option. Eventually, I owed somewhere between $13-16,000. By that point, I’d been in debt for so many years, I couldn’t remember ever really being out from under it.”

She decided to turn to Consolidated Credit…

“I had seen commercials for Consolidated Credit and did further research about the organization online. I decided to call them up and soon I was enrolled in a debt management program. Consolidated Credit kept me on track; even after losing a job, they worked with me. When I was halfway in, I got a lesser paying job. Consolidated Credit helped me negotiate lower payments to my creditors without having to leave the program.”

Kathy is now determined to live a debt-free life…

“Consolidated taught me to reevaluate most purchases. Do I really NEED this? I’ve only recently completed the program, but I believe the tools I learned will be used going forward. I’m motivated to avoid the same mistakes I made in the past. I’m much more careful with my money and I’m looking forward to the future.”

She’s thankful Consolidated Credit was there to help…

“I just want to reiterate how thankful I am to Consolidated Credit. I never would have believed I could be debt free in less than four years! Thank you!!!”