A woman has shared how she cleared £14,000 worth of debt in just under two years using a simple method that requires no effort.
Mercedes Smithson hit “rock bottom” after being left with the outstanding lump sum.
She and her husband, Joel, 36, initially worked tirelessly in a bid to whittle down the amount.
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However, it was no use and faced with mounting bills, as well as their kids, Mason, 13 and Miah, nine, going without, it seemed like they were in a never-ending cycle.
Until the 32-year-old came across a simple method that has helped her to shave a whopping £14,000 off her debt in just over a year.
“I was scared and worried about what we were going to do next,” the NHS assistant practitioner, from Norfolk, told Need To Know.
“Something had to change; as we couldn’t keep living in our overdrafts every month.
“I was running out of ideas, until I came across a social media video about the snowball method.
“Instantly, I felt a wave of relief wash over me.
“Now, I feel as though I can finally live again and see the light at the end of the tunnel.
“Whereas before, I couldn’t see it ever getting any better.”
Mercedes and Joel had initially taken out a £17,000 loan in a bid to do up a home they had just purchased.
It was planned that after renovations were complete, they’d be able to sell the property at a profit; paying back the outstanding amount, while putting a bit extra in their pockets.
However, the pair were left “distraught” after it was flogged at a loss, which left them with £20,000 in debt.
She took up a second job in the evenings working a photobooth for events in a bid to earn some extra cash alongside their joint £60,000-per-year income before tax.
But with a £1,275-per-month mortgage to pay on their new abode, as well as the minimum monthly £260 loan payment, and other bills, they were left with next-to-nothing.
She said: “It felt like with the rising cost of living that we were just drowning.
“It was getting worse and worse each month.
“It also felt so unfair as we were working as much as physically possible; missing out on time with our children and still barely able to survive.”
In 2024, she came across the savvy method.
It involves paying the minimum on other debts per month and using any extra money left over to pay off the smallest amount owed.
Mercedes said: “It was tough, as I had to be disciplined.
“It meant no treats, holidays or days out.
“And I also cut back on any subscriptions as we had to keep our outgoings as low as possible.”
The mum also looked at her day-to-day spending and realised how much they were forking out on little trips to the shop every now and again.
She immediately turned to focusing on the basics, including implementing “no spend days”, as well as using discounts, such as her Blue Light card, and cashback offers.
And now, 18 months later, she’s paid off over £14,000.
Mercedes added: “The method is so easy to use – and it’s been life-changing.
“I started off with Klarna, then my Paypal credit, followed by our credit card.
“Now we’ve just got the remainder of our loan to go and then we’ll be free.
“I’d recommend this to anybody struggling to find a way out, as there is, you’ve just got to be strict.”
Mercedes previously hit the headlines after revealing her tight budget for the school holidays.
She forked out just £200 over the six-week summer period.
It received some backlash, with people “judging” her for being “too tight”.
But she doesn’t care, as utilising deals and days out offers has left her no longer borrowing money from her mum or cashing out her wages early to get by.
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