I paid of £8.5k of credit card debt using 7 key steps – here’s my top tips including why it’s so important to make lists
A BUDGETING whizz has shared how she paid off £8,500 of credit card debt.
Aisha Carter shared her money saving formula via a video posted to her TikTok channel, @aishaxcarter.
![](https://www.thesun.co.uk/wp-content/uploads/2024/01/s-top-tips-including-s-875278564.jpg?strip=all&w=540)
![](https://www.thesun.co.uk/wp-content/uploads/2024/01/s-top-tips-including-s-875278568.jpg?strip=all&w=540)
In the video, Aisha broke down her debt-busting method into seven key steps.
Her first tip is to do an “audit analysis”.
She explained that this means making a list of every single thing you spend money on to allow you to see exactly where your money is going.
Aisha said that when she did this, it helped her make sense of what she needed to “cut out”.
The money-saver’s second tip is to make a “reduced budget”.
Aisha explained that she used Excel to make a spreadsheet showing her projected budget for how much things would cost, the actual budget, and how much she expected to have in her account after the payment was made.
She tracked her spending like this every month and aimed to have more money in her account than projected at the end of every month.
Aisha’s third tip is to “increase your cash flow, in some way possible”.
The TikToker chose to sell her car to do this, but said that if possible, you could also try getting a higher paid job.
Step four is to give yourself a timeline for how long you want to spend paying off the debt.
She said: “Be realistic with yourself and be open-minded”.
Aisha’s next step tip is to limit the use of your credit card.
She said: “I stopped getting my hair done, I stopped getting my lashes done, I stopped getting my nails done”.
The TikToker stated that she began only using the credit card for essentials, such as grocery shopping.
Aisha’s next tip is to prepare yourself mentally to be in a money drought and to not be able to lead the type of lifestyle that you are used to.
Lastly, Aisha recommended making sure to stay consistent until you have paid off all of the debt.
She said: “Just figure out your goal and stick to it.”
Aisha’s TikTok has clearly left many impressed, as it has racked up over 30,000 views.
TikTok user’s raced to the video’s comments section to share their thoughts on Aisha’s budgeting plan.
One user said: “This video was genuinely really helpful, thank you!”
Another user added: “This is really good info”.
Fabulous will pay for your exclusive stories. Just email: fabulousdigital@the-sun.co.uk and pop EXCLUSIVE in the subject line.