Lifestyle

I am paying off £99,000 worth of debt

A DAD with over £99,000 worth of debt has revealed how he’s learned to live with it and even treat himself occasionally.

Tony T has shared his journey to financial freedom with his TikTok followers after his debt hit over £100,000 last year.

Tony T is currently paying off over £99,000 worth of debt

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Tony T is currently paying off over £99,000 worth of debtCredit: TikTok/@tonyjtomlinson
He says he's not stressed despite the amount he owes

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He says he’s not stressed despite the amount he owesCredit: TikTok/@tonyjtomlinson

The father owes £43,616 to HMRC as a mix of unpaid taxes and VAT arrears, he has £13,377 in unpaid rent taxes and utilities.

Tony also owes £15,260 in personal loans and has a £32,500 business loan to repay, but despite the huge sum, a grand total of £104,753, he admits it’s not stressful.

In a recent video, he explained: “When I wasn’t in control of my debt, yes I was scared – I had panic attacks and anxiety, sleepless nights.

“Now I have everything under control, so nobody knocks on my door or sends me red letters, nobody sends me demands – it doesn’t worry me or scare me anymore.”

Tony has now managed to reduce his total debt to the £99,000 mark after ‘rushing’ by selling items on Amazon and elsewhere.

He says he’s aware it’s unusual to be so relaxed about his situation.

Tony explains: “I’m pretty cool about my financial situation, which might sound crazy because my level of debt is probably the same as most people’s outstanding mortgages that pay them over 20 years and that’s because I’m very good at it and very quick at it put investing in perspective.

“On my deathbed I will look back and regret not having worried about paying my council tax on time.

“It’s just a waste of time thinking negatively about the problem, it’s hindering it, it’s not helping it, you have to tackle it and think about it positively.”

Tony estimates it will take him four years to fully pay off his debt, but says he won’t be refusing himself any treats in the meantime.

He says: “I still go out and treat myself, go to a restaurant, if the kids want to bowl or go to the movies or something to eat, then yes.

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“I was on vacation last year, I’m going on vacation this year.”

While some of its followers were quick to praise his approach, pundits warn against buying luxury items when you’re in debt and encourage people to cut back on spending as much as possible.

https://www.the-sun.com/lifestyle/5013125/paying-off-99k-debt-still-go-holiday/ I am paying off £99,000 worth of debt

CELINE CASTRONUOVO

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