Taking a loan to clear a debt

Every now and then we have a little daydream about what we’d like the future to look like. Maybe we’d live somewhere more rural, I’d write a book, Laurence would start his own business and get out from spending his days behind a desk. We talk about bucket list items like treks and trips.

But really, as unsexy as it sounds, nothing beats the dream of one day being completely debt-free. We probably have the same financial ties as most people but wouldn’t it be glorious to one day wave them goodbye?

After my maternity allowance finished with Talitha, I wasn’t working much and we used a credit card to help us through that financially tricky time. But once we were in a better spot, the expense of repaying our credit card debt was eating away any possibility of relief.

So we took out a personal loan to repay it, finding that it could be repaid at a much lower rate. Then we froze the credit card in a block of ice in the freezer – something I’ve mentioned here before, much to everyone’s amusement. Certainly, we’d never have touched a payday loan as that would have only added to the stress of the situation.

Have you ever used a personal loan to get you out of a tight spot? How would you use a loan?

In association with TSB

mother • freelance writer • home educator • #revillagingpodcast • breastfeeding counsellor • no dig farm @soul.farm • Trini in Cornwall [she/her]

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