Woman who paid off a £27k debt and now owns many properties, reveals her financial secretsJulie has over 400,000 followers on TikTok after sharing some of her favourite financial secrets
Julie Haneline, 36, of Greenville, South Carolina, began saving after taking a financial course in college.
She decided to set herself a challenge five years ago by not spending any money at all – aside from vital bills like rent – and was astounded by how much money she was wasting on trivial things.
Although she chose January as her month because it is a time when many people are short on cash after the holidays and New Year's celebrations, she says any month will suffice.
Julie's journey to financial freedom began after she graduated from college in 2007, when she was in debt of roughly $37,000 (£27,200) due to school loans, credit card debt, and financing her automobile, according to Metro UK.
‘There was one point I had to start putting tuition and rent on my credit card in college because I wasn’t making enough money from my part-time job.‘I also made poor shopping decisions. I loved buying new clothes. I didn’t have the self discipline in my early 20s that I have now!’
'Having a roommate wasn’t ideal in my late 20s,' she said, 'but I did what I had to do so I could pay off debt and save for my first home.'
Julie intended to use the money she had saved to buy a house after she had paid off her debt.
Julie rarely dips into her money, though she did take a cruise in 2019 to the Dominican Republic and the Turks & Caicos Islands.
Her best piece of advice? Simply say no.
‘So no eating out, no shopping, no alcohol, pause subscriptions and memberships that aren’t a necessity, such as gym memberships, beauty subscription boxes, apps etc.
‘And try to hold out on hair and nail maintenance, and only buy items at the grocery store that are for a recipe or healthy snacks.
‘There is no “I might need this later” allowed, items like extra bags of crisps or extra cans of beans etc.’
Those who aren't ready to go completely without spending can pick one category to avoid instead, as Julie suggests, as it's 'better than nothing.'
‘I don’t find it [the no-spend-month] that difficult,’ she commented, ‘because it’s only one out of the 12 months of the year and the reward is worth it.’
@juliehaneline Money Tip Monday????????Open an online savings account to get higher interest rates #moneytip #budgeting #moneytipmonday #moneymoves #savings ? one dance - shae
‘With Whole30 you can’t really go out to eat anyway so it helps me not be tempted to get take out because of the food restrictions.
‘I’ve heard of people that go all out with no spend and don’t even buy gas so they’ll ride their bike everywhere once they’ve used all their gas – now I’m not that extreme but I think it’s awesome!’
Julie recommends downloading apps or going to websites that display your recipes based on what you have on hand, and she loves batch cooking chilis, soups, casseroles, and crockpot dishes.
‘Get a friend of family member to do it with you to hold you accountable,’ said Julie. ‘I have eight people in a group chat doing it with me, and last year I had six.’
‘I love using my platform to encourage people, help them and bring positive energy to others.”
‘No spend January makes me very happy because it saves me money and resets my spending intentions for the year!
‘It is also a great practice of self-discipline too which I think is a great quality in all aspects of life.’