Alana’s debt of choice was buying household items on Hire Purchase. Lots of them! But before long she had precommitted her income years into the future so she could service these debts. Yet that still didn’t stop her borrowing money for a vehicle and running up credit card debt. But finally she reached a pivotal point of being heartily sick of living pay cheque to pay cheque and a chance conversation where someone said “just try writing down your expenses for a month or two” was to be the catalyst that changed everything. She got her somewhat reluctant husband on board and in just a few short years they have had a massive financial turnaround and are now firmly on the path to financial independence instead.
The Happy Saver Podcast - Personal Finance in New Zealand