My family and I were participants in the Million Dollar Neighbourhood season 2
Episode 1 aired last Sunday, January 6, 2013, I just wanted to highlight some of the scenes that my family and I were in, before episode 2 airs tomorrow.
Watch every Sunday at 8PM
Stewart Miles
"I spend money, a lot of money, you never say no"
"I don't know how to say no"
Ten years ago, I was $60,000 in debt by using my credit cards. I consolidated my debt, lost all my credit, and spent seven years paying it back. You would think that I learned my lesson. As soon as my credit was back, I got my first credit card, it didn't take long to bring it back up, so Joe would pay it off by using our line of credit. I would promise not to use my card, but as a shopaholic, I just can't control my shopping habits.
During the show, Dr. Joti Samra said, "taking away my shopping is like taking away my anti-depressants.", in a way, she was right. Joe said that if he didn't allow me to shop, he was afraid I would fall into another major depression, that shopping was my outlet. But putting my family into another financial disaster, took the better part of me, and during filming, I started to recognize that I was "smothering my family financially."
During the first episode, we were asked to put our credit cards into a security box, and that our money monitor had the combination to that box. I never looked back.
In the first episode, you saw my closet, it's filled to the brim, "I like to buy quality as opposed to quantity" which is not true as I like to buy a lot of everything, but designer labels and handbags are my downfall. It wouldn't faze me to spend hundreds of dollars using my credit card. "It feels like I'm getting it for free" because I wasn't handing over physical cash. I wasn't being responsible or taking ownership for my spending habits, and as a result, put another $12,000 onto my credit card.
Dr. Joti asked me to go through my handbags and sell most of them during the getting out of debt sale, I was hesitant, as you can imagine, each bag was like a trophy to me. Each representing a time where I was able to go out and reward myself with something I loved. As a family, were determined to sell anything that we didn't need and started going through the house for unnecessary items. My sons even got involved by selling video games they didn't play, items that they out grew, and de-cluttered their rooms. I took this challenge seriously, and started to purge things that we didn't need. Including items in my closet like handbags and designer clothing. Our challenge was to sell over $1000 worth of goods, and I was determined to make that goal happen. We started to fill the van with our items for the good sale.
The van is packed for the sale, we had to make several trips
My sisters helping me out
There were so many people coming through that I had a hard time managing my anxiety, I had a major panic attach during this good sale, shown on t.v with my permission. I had told production right from the start that if I ever experience a panic attack, that it was okay to film it in order to reach people suffering with the same condition.
Some of the handbags I sold during the sale
Some of the games my kids sold during the sale
Christella Morris was the team lead for marketing, she did an amazing job creating a video, making signs, and advertising locally, we had so many people come through that day, it was crazy! The logistics team, headed by Laura Wichman, made the sale a success. Everything was organized, despite what you see on television, Laura was the right person for the job. They worked endless hours organizing this event and made it a huge success. We managed to sell over $1200 dollars worth of stuff that we don't miss at all. My Mom and sisters were there during the sale, one bought a handbag, and a my other sister bought a beautiful mirror from Rhonda Melason, owner of Country Chic-Shabby Chic & All things country, who was also a participant in the show. I was tempted by all the beautiful items, but I had to hold myself back because I was there for one reason, to make money and help our family get out of debt.
Many people took opportunities by selling items on eBay and Kijiji prior to the sale, like Brian Jung, who sold his pin ball machine for $700 dollars. To this day, I continue to use these resources to sell unwanted items.
We made our goal this week, and one family, Michelle and Tony Morrison were awarded with $10,000
Now how does this benefit you?
How can you erase debt from your life?
Follow along with the Million Dollar Neighbourhood every Sunday @ 8PM
You can also go through your home, sell unwanted items, things that are collecting dust in your basement, garage, closets. Use the resources that I mentioned above, sell your clothing, shoes, and handbags in consignment stores. Box them up marked "sale items" until the weather permits, and sell your unnecessary items. This will give you a great head start in in paying down that debt.
Try to pay cash for everything, refrain from using credit cards. Before you know it, you won't have any credit card debt. It feels great, and you become more aware about where your money is going.
Another thing that many of the Million Dollar Participants have started is the 52 week money challenge. What an easy way to save up for next year's Christmas expense. Each week, just add the deposit amount into a bank account, or money jar like I'm doing.
Taken from virgin radio, Toronto
Each week is numbered from 1-52, each week deposit the amount indicated, and by next year, you'll have $1,378. dollars to spend on Christmas, or more money to pay off debt.
and next time you make a purchase, ask yourself, "Do I really need this?"
Remember to watch tomorrow's Episode 2 of Million Dollar Neighbourhood this Sunday @ 8pm on OWNCanada called Rolling In It
See you on T.V tomorrow, I really enjoy hearing from you so please leave feedback, I will respond to every comment, question, to the best of my ability.
