A British mom who racked up £23,000 in debt ($31K) has paid back $25,000 (£19,000) in just five months by decluttering and selling 410 household items on Vinted, eBay, and Facebook Marketplace.
32-year-old Ellie says her debt began to “snowball” after she became a single mom in 2022 and she took out a short-term loan of £15,000 and another loan of £8,000 to get by.
Over the next four years she found herself spending on “silly things” like take-out food and online shopping—£1,000 in one month using three credit cards, for instance.
Despite making some payments over the years, she’d still built up that much debt by April of this year.
“I felt sick, to be honest—and embarrassed that I’d let it get to that point.
“I work for a bank, so financially I’m very literate, and I understand how credit cards work, how loans work, and all of that.
“But I knew I had to deal with it regardless, and worked through it.”
Ellie combed through her house and sold off 410 household items, including toys, clothing, jewelry, kitchen gadgets, and room decor items online.
Through her job she took the opportunity to invest in stocks and bonds, and when they had matured last month, she cashed in £13,000 worth, putting £11,333 towards her debt.
Ellie estimates she has paid back £19,733 so far ($26K) by also saving on “random purchases”. She still has £8,700 of interest to pay off.
“I was so stressed about money I was finding ways to feel less stressed that cost more money, rather than focusing on the actual debt.
“The first thing I did was I broke down week-by-week what I was spending.
“I am a bit of a collector, and there was so much stuff in the house, and just got really strict and tough with it.
“I went through my wardrobe and said, ‘If I haven’t worn it in the past six months—weather depending, obviously—I’ll put on Vinted’.
“I got brutal and thought I don’t need all this stuff; I need the money more than I need a house full of things.”
When Ellie’s maternity leave was approaching, she realized her pay would be dropping, and began assessing her finances. Now in a new relationship and recently welcoming her third child with partner Lee, Ellie is taking sole responsibility for the debt.
She says her relationship has allowed her to contribute more to her debt as she’s splitting other costs, but it’s more the “emotional support” she has benefitted from.
“If I want to spend I can talk to him about it, rather than just spending.”
Ellie cuts costs where she can, by cooking at home more and avoiding buying expensive pre-prepared groceries.
“In the run up to having the baby, we spent a whole day batch-cooking four weeks’ worth of meals we could pop in the oven or the slow cooker if we are tired so we’re not tempted to get a takeaway.”
She started up her TikTok page documenting her journey.
“By posting online, people have shared the way they cope with curbing their spending habits and what they do to distract themselves.
“I’ve shared that there have been moments I’ve really wanted to spend money recklessly with really no reason other than a bit of dopamine chasing, I guess.
“It’s been a really nice way of community building, and it keeps me accountable, really.”
FOLLOW Ellie’s journey on TikTok@chaostocash4–And Share The Advice With Friends…