The Wallet15 Juli 2020

How am I repaying my £27k credit card debt? with Clare Seal, from My Frugal Year

Debt is scary. One in two adults with debt has a mental health problem. The shame surrounding the topic of debt makes people even less reluctant to discuss it. Yet debt is also incredibly common - up to 8.3 million people in the UK are unable to pay off debts or household bills.

Clare Seal was one of the many adults who found herself in spiralling debt, spread across seven different credit cards. She set out to document her debt repayment journey through @myfrugalyear - an Instagram account that's now become a tight-knit community.

We speak to Clare about how she got into and tackled her debt, the stigma attached to discussing debt and how her community helped her stay accountable.

Since recording the podcast, Clare managed to repay even more of her credit card debt and she now has an outstanding balance of slightly more than £11k!

Clare’s book “Real Life Money: An Honest Guide to Taking Control of Your Finances” is out now and available from Amazon - you can also pre-order The Real Life Money Journal here. If you need debt advice you can reach out to StepChange as recommended by Clare. And if you’re struggling with mental health, don’t hesitate to visit and contact Mind or The Samaritans.

You can learn more about Vestpod and subscribe to our newsletter here: https://www.vestpod.com/

You can follow us on Instagram @vestpod and join our Facebook group.

My book is available to purchase from Amazon and your favourite bookshop.

* Please note that we are not certified financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.*

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