Lisette Davidson, a sales and office administrator, shares her strategies for managing her money and paying off credit card debts. She discusses her monthly income, expenses, and savings goals, as well as her decision to increase her retirement age.
d debtour How I Manage My Money seriesThis week we speak to Lisette Davidson, 59, who lives in Nairn, Scotland, with her husband, Nick, 56, daughter Nadia, 32, and son, Alex, 30. Lisette, a sales and office administrator, has taken cash out of her pension to get her credit card debts paid off and has a part interest-only, part repayment mortgage she’s keen to shift into a repayment only mortgage. Lisette thinks older workers should be valued more and recently upped her retirement age to 70.
I started working in hotels from the age of 13, doing everything from being a chambermaid to waitressing. Later on, I got a job working for an electronic point of sale company. After working at the company for 15 years, I took voluntary redundancy in 2015. For a long time I felt rudderless.
In the past, I’ve had an adverse credit score. I used to think of credit as free money and made some very foolish decisions while acting like I had more money than I did. I used the remaining money I withdrew from my pension to update our kitchen. It’s been a slow and soul destroying process getting my credit card debts paid off and I didn’t want to reach 60 with these millstones weighing me down. I’m pleased I’ve made progress and the sense of freedom is immense.with the Bank of Scotland. I’m not sure what the interest rate is, but I don’t think it’s very high.
Money Management Debt Credit Card Mortgage Retirement Income Expenses Savings
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