7 MONEY LESSONS I LEARNED FROM MY DEBT

Today I'm sharing 7 money lessons I learned from being in debt. These are money lessons that I wish I learned sooner, and money lessons that are also keeping me on track to achieving my financial freedom.

What are some money lessons you've learned?

#moneylessons #payoffdebt #debtfree

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ABOUT ME:🌿
Hi, I'm Christina - I'm a blogger slash vlogger slash human on the internet slash pharmacist, hence the "apothecary" theme in my name. I'm living in Toronto, Canada and on my channel you'll find me on my journey towards minimalism, being content with less, my debt free journey, and content on my LOW BUY. I also focus a lot of fashion. I think anyone can curate a personal style we can be confident in, using pieces from out own closet or with carefully thought out new pieces. I'm happy to take any requests, too! Your girl is flexible (not physically). Feel free to leave me a comment below - I always make sure to read and respond, and I love chatting with you guys. Thank you SO much for watching and taking the time out of your day to support my teeny little channel. Love xx, Christina.

FTC: this video is not sponsored. Items marked * are gifted. Some links are affiliate. Not financial advice.

DISCLAIMER: I am not a financial advisor or professional. The ideas presented in this video are for entertainment purposes only.

[agatatomicka]

I don't mean to hate on anyone but it's so refreshing to see financial advice from someone who is actually struggling with money (or has struggled with money) and not some youtuber living in a mansion, who spends $500 to get their hair done every month and then they're like: 'the dummest purchase I've made was a $2000 dollar designer bag, I could have gotten it for $1800 with my code which is linked below' . that just drives me crazy... great video btw!

[linusbucher]

7 money lessons to get out of dept
1. Credit cards are not money
2. You HAVE to budget
3. Stop buying stuff for "special occiations"
4. Nobody cares (vacation, cars, outfit...)
5. Dept comes fast, but paying it off is very hard
6. Math works. (Budgeting)
7. Money cant buy happines.

[jenzie]

I realize so much of my overspending comes from being poor as a child. I grew up in the 80s and you were basically a nobody without guess jeans and hi-top Reebok's. I am not wealthy now but if I want something, I can usually get it. However, I find myself overcompensating for the kid who could never keep up with the labels. Thank you for your video. Very inspiring.

[MrsHi]

I had to learn that no matter how much I bought, I would never have enough. That no matter how much I got, by my next pay check I’d have a list of things that were ‘this is it, after this I’ll have everything and I’ll be happy’ but it never ends. I took stock of the advertising I was exposing myself to via Instagram and YouTube and stopped following people who made me want to buy things (even though I liked their content) just so I could get ahold of myself.

[carolinekellysarin]

Early retirement is the dream. I refuse to accept that I have to be at the end of my life to enjoy time freedom. Let's hustle to financial independence!

[MyLifeInTheDesert]

I am crying while watching this. I resonated with so much of what you said. Growing up poor and living in a trailer I always wanted to be “successful.” I wanted people to look at me and my outfit and NEVER know where I came from. Everything, from my the way I speak to accessories I wear has all been built on the premise that I need to hide where I am from. It’s really a sickness. I want everyone who sees me to say I am successful. I want everyone to say I’m educated. I want everyone to say I look attractive. Well guess what, along with a huge pile of embarrassing debt, this exhausting quest for perfection is unattainable. There will always be someone with more. And being rich doesn’t make you a better person any way so why have I spent so much time pretending to be one!!!??!!

[monikakress]

I now view all my shopping through an environmental lens. All these material items will ultimately wind up in a garbage dump someday. So when I go to buy something, I imagine what that looks like, and almost always I reconsider buying that item. I try to get as much use as possible out of the stuff I already have.

[freddy]

wow, when you talked about how you used to take value in people’s complements about your outfits hit pretty hard. I’m not the standard pretty face, therefore I compensated with outfits and looking expensive so I could feel like I’m on the same level as others. However!!! after this video, I opened excel and now I’m making a budgeting sheet to stop spending so much on clothes

[septemberastor]

3:51- by this time I was in tears... I was angry, relieved, excited, frustrated, sad and felt so small...but it finally felt like someone gets it. I needed this today. Keep it up- you never know who is watching and who's life you are changing (today it's me and mine).
Thank you.

[kaybee]

I am lucky to be able to continue to work as a healthcare provider during the pandemic. My income is pretty stable and my student debt almost completely paid off ($4000 left on OSAP). At the same time, I noticed I’ve been compulsively shopping a lot online maybe out of boredom or the need for some immediate gratification. I’ve been struggling with stress and my mood due to covid-19 and demands at work. This was a nice reminder to stop using shopping and instant gratification for emotional reasons. I need to stop wasting money on things I don’t need because it makes me happy in the moment, but doesn’t solve the issue overall.

[AlliyScott]

You are so right, no one cares! I used to care SO much about what strangers would think of me when they saw me wearing expensive things. But when I am out and about I literally don't look or care what anyone else is wearing. No one cares! And even if I do why would I care what some random person I will never meet thinks about my expensive shoes

[imlena]

Played this video 3 times. I can relate with all of your points because I was the exact same. Just recently, I finally paid off my credit card debt. It’s honestly such a blissful feeling. From now on I will budget my monthly spending and make sure that I only buy the things I really need versus the things that I want. Now I’m focused on saving up to pay off my student debt in one go. It’s never been so good to live a humble life ☺️😊 By humble, I just mean that I am no longer shopping and dressing to portray a lifestyle that I cannot comfortably afford. Thanks so much for this awesome video! I hope in the near future, you and I as well as anyone who accidentally stumbled across your video will get out of that hole and live a happy and debt-free life 👍🏻😊😊

[michellefreedman]

One thing my husband and I have realized after many years is 'There's no magic money'. Sometimes we buy things and just make assumptions that there's always money to cover that 'somewhere' as if magic money just exists around us.

[emilybets]

Absolutely agree with you.. nobody cares what we are wearing or doing.... and I love that fact. ..just concentrate on what you really want and how you wanna feel. Great content, thank you 🙃🥀🌷⚘

[cherishluvsyuh]

I’m currently a full time college student and work part time in customer service. my parents have always been what most people consider “well-off” but I struggle monthly to make ends meet because they don’t support the path I chose. I chose a major in the arts (english literature and creative writing) but my parents who are both in the medical field have been passive aggressive towards my decision. so I vowed to never ever rely on them for money. so I guess a money lesson I’ve learned is that being able to pay for my tuition is more important than buying those purchases that just give me instant gratification. but the struggle is definitely real.

[katrinaa]

don’t spend money before you have it, so many times I would almost have paid off my visa and would buy something thinking what’s another $200? I can pay that off when I get paid, my bill is so low. then I would just add a few more things until it was high again 😣

but! I’m officially debt free and am almost at my emergency fund goal! paid off a line of credit, student loan, and credit card this year, despite losing my job and the all around mess of 2020... hope you’ll be in the debt free club soon! your videos have been a big inspiration for me getting my finances in order

[kt]

I spent the last three years being in and out of debt, for same reasons as you. Chasing a lifestyle I aspired to have - a beautiful wardrobe of clothing and expensive makeup... even though my lifestyle is VERY simple - I never have fancy parties or outings, and i don’t make much money.

But I kept charging on my Credit Card even though I had less in my bank account. I was embarrassed to be in debt when none of my friends or family were.

Only now at 25 I’ve begun to work on stopping my shopping addiction. I paid off my debt this year and I hope to never be in debt again. Trying to seek happiness in owning less clothing and less items.

[cotus]

I’ve learned that people’s stuff usually don’t make interesting conversations.

Also it’s the environment you’re in. I’ve spend parts of my life in remote places (but not really poor or drastically underdeveloped) and i felt really free from consumerism because I was never surrounded by it in a sense that there was not so much to buy or need really. It was an incredible lesson and experience that I try to remind myself of whenever marketing gets me

[karlamemmott]

Thanks for your openness. I heard phrases like “debt snowball, ” “ask if you can afford the item, not if you can afford the payment, ” and saw the scissors to the credit card image. Looks and sounds like Financial Peace. If that’s what you are doing, keep it up. It’s tough, but it works. On that path for well over ten years and it does bring peace of mind.

[natalieb]

I’m so insanely grateful for these videos. I too am in a tremendous amount of debt that I racked up myself, trying to chase that perfect “image”. I have a closet full of gorgeous, expensive clothes and no savings to show for it. Sigh...I’m trying to relearn my relationship with money and it’s really really hard to stay on track and dig out when it seems like I can’t find the light at the end of the tunnel anywhere. So thank you! These videos keep me motivated!