Journalling my way to a debt-free future

rjsm0208131986

Hi,

I need your help.....I have made a decision, after years of mounting debts and financial struggles, I have to change what I'm doing. I want to be accountable, so I am going to use this platform to document my journey and learn from you all! I am determined to do this- future me deserves to benefit from a life of hard work!

First of all, I think its important to give a bit of background. I so often read advice that I find unrelatable as I don't know the circumstances behind it, and I want people not to feel alone or ashamed- debt is not always (in fact not very often) your fault, but an unavoidable combination of cost of living, lack of education and the mistaken belief that having 'things' makes us happy. So here's my background and how I ended up here-

I started school at 4 years old in 1990 and left with 10 GCSE's and 3 A-Levels in 2004- doesnt seem long ago, right?! During my 14 years of compulsory education,  not once did I receive any lesson that related in any way to personal finance. I learnt how to solve a quadratic equation, how to make a title using word art, how to grow cress and how to say 'I'd like a chocolate ice cream' in German. But despite taking weekly lessons entitled PSHE (personal, social and health education), not once did I learn how tax works, how important it is to budget or how to feed myself on £5 a week. Of course, I'm not saying my education was not vital and invaluable to me, but if I could go back now, these are the things I wish I could have been taught. Arguably it's our parents role to teach these things, which is great- if they are educated themselves. However, my parents lacked a financial education just as much as I did, resulting in working every spare minutee and a series of poor decisions causing financial ruin and a (thankfully failed) suicide attempt- creating shame and turning financial discussions into a taboo subject! I suppose you could say I learnt what NOT to do!!

Shockingly- even as recent as 2004, as a 18 year old female with average grades, I felt that the only career options available were teaching or nursing! Again, not once was I told that I could in fact do pretty much anything!! I knew teaching definitely not for me (I'd witnessed too many teachers being shut in cupboards to know I was not made for that!), so I picked Nursing! My next hurdle was that nobody told me at 16 when I got my GCSE results that a D in Mathematics would not get me onto the path I needed for such a career. And I don't know about you, but if no one sits you down at 16 and tells you such information, you are most certainly not likely to put yourself through a retake! So there is was, 18 years old and eagerly refreshing my UCAS application each day feeling like I was nailing life. Unfortunately, 6 rejections later, panic set in- if I didn't go to uni I would be a failure (or so I was led to believe at the time- kids- this is so far from the truth)! So I went through clearing and picked the course I felt was most relevant (education and health science) and got my place along with a £9000 loan- my first ever debt!)

I think I'll pick up my story in another post as I really want people to read this and take it in! I feel so passionate about spreading awareness of how easy it is to end up in debt and struggling and I hope my story is beginning to show this! Debt isn't always a choice we make as an adult with a full capacity for understanding the consequences! 

Please add your thoughts, I'd love to hear some of your stories!

Thanks for reading
H.E. 

Toni'sfriend

I am much. much older than you but everything you've said is so true. When I was younger access to credit was nigh impossible. I had to be interviewed by the local branch bank manager before I was granted a cheque book (remember them bank branches and cheque books?). And there was little careers advice for girls. Teaching or nursing was the best you could hope for unless you wanted to be a secretary. You would have hoped that things would have moved on but I suspect not as much as they should have.

But, I do so agree with you. We need to educate children about finance. It could be so easily incorporated into the curriculum. And you're right. Parents used to teach children these life skills but many have not been taught them themselves. It is so obvious I do not understand why it doesn't happen.

You might feel that you're in a little bit of a pickle just now but you seem like such a sensible person I'm sure you'll get there.

Good luck, xx