GETTING OUT OF THE RED

With nearly half of Brits in debt, we speak to two women who turned their lives around and are now more successful than ever

- MISHAAL KHAN

Debt is something that can affect us all - whether it is borrowing money to redecorate your house, or putting a bit of shopping on a credit or store card. We all have good intentions to repay loans, but sometimes debts can mount up. The national debt average stands at just shy of £16,000, but for parents across the UK with children under the age of 18, it is even higher, at £17.402. We meet two women who prove that there is life beyond debt...

‘It’s a great sense of achievement’

Joanne Colley, 42, lives in South Woodford with her husband Alex, 40, and their sons Reggie, eight, and Heath, seven.

Looking through my and my husband’s joint bank statements, I sighed. Our debts had stacked up into thousands and I knew we couldn’t keep avoiding them.

SPENDING ON CREDIT

We’d started borrowing money here and there shortly after our son Reggie was born in June 2014. I’d gone back to work as an accountant and after we had our son Heath the following year, we moved from our two-bedroom flat into a house, spending thousands on a kitchen and loft extension and putting most of it on credit cards. Alex and I both had good jobs and believed we could pay it back in a few years. But I found work and the kids a lot to manage. So, in September 2016, I quit my job and Alex became the sole earner as a self-employed graphic designer.