Welcome to another one of my Debt Free Community series interviews. This week I am featuring Alice from Australia. I hope you are enjoying this series!
Q: Tell us a bit about yourself
I’m from South Australia, but also from Japan. I am single with an expensive fur baby (a tortie cat named Vala). I have family in Australia and Japan. I am currently working two jobs, studying, and building businesses while also doing some side hustles.
Q: What is your current financial situation?
I mostly follow The Barefoot Investor, but as far as ‘baby steps’ go (Dave Ramsey’s Baby Steps) I am on baby step #3, but I am aiming for 12 months expenses instead of 6 months. When it comes to ‘The Barefoot steps’ I am doing #4 (buy a home) and #6 (emergency to 3 months expenses) at the same time. I am planning to get to #5 (15% to super) when I have my own house.
Q: Where did you start with your debt free journey and where are you today?
I started on new years day 2018. Over a year later I have bought a car (I saved the full amount in about 8 months), gone back home to Japan to visit my family, cleared all my debt and am now saving for my own house (which I never thought I could ever afford). Right now I am learning about investing so that I can build some wealth.
Q: What was your ‘reason’ or turning point for paying off debt?
I had just had a nasty break up, had to move back in with my parents and my father gave me the ‘The Barefoot Investor’ book.
Q: What have you done to help pay your debt?
I read The Barefoot Investor and I just picked up every shift I could. I made a tight budget and bought essentials in bulk to save money. I made spreadsheets to track all my spending and savings, and set up all the automatic transfers. I also changed banks.
Q: Have you had any particular setbacks during this journey? If so, What did you do to overcome these?
I have a bad habit of overworking myself and making myself sick. I have done this a few times in the last two years, but I don’t always learn my lesson. I also have a cat with many medical problems, so that has set me back a bit. I have an emergency fund just for her that is a bit like pet insurance (she doesn’t qualify for most pet insurance anyway) and that has been a godsend because of the lack of interest and the fact that we go to the vet almost monthly.
Q: Where do you see your financial situation in 5 years time?
In a house with my best friend. Getting the mortgage paid off as quickly as we possibly can. Drinking tea and decorating the living room with a jungle theme. Hopefully, the businesses I am currently building will be ticking away and running as smoothly as a business can. I like to imagine myself on the couch with a cup of tea cuddling the cats and reading books while watching the rain outside.
Q: What advice would you give a beginner on their debt free journey?
Remember that comfort and conviction don’t live on the same block and if you come up against a tough choice, make the decision you will regret the least when you are on your deathbed.
Q: Where can we find you online?
Q: Any last words?
There is a way to live a champagne life on a beer budget. You just have to be creative.
*Images used with permission. Icons designed by Freepik from Flaticon.
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3 thoughts on “Debt Free Community Interviews: Alice”
This was great. I’ve been budgeting for about one year now, but have not made many strides due to getting back into credit card debt. She is awesome to be so committed to growing her businesses and sidehustles. Great interview!
Thanks so much for the lovely comment! Credit cards can be so terrible, they were my downfall too. I know you can do this though, just takes persistence and focus! Good luck x
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Definitely a downfall. I’m amazed at how much interest I’m paying and have paid over the years. It stops now. Thanks again for sharing this great post 🙂