Woman Reveals the Biggest Mistakes She’s Made After Years of Impulsive Spending. Now She's 80K in Debt (Exclusive)

TikToker MorganResets is documenting her debt journey and finding community with others

NEED TO KNOW

• One TikToker has been documenting her debt journey on the platform, asking for advice and sharing her story
• The woman, whose username is MorganResets, is $80,000 in debt
• Her video asking other people how they've paid off their debt went viral, amassing over 4 million views

A woman, who also goes by MorganResets on TikTok, has been documenting her life and efforts to pay off her debt on the platform.

Morgan, 28, tells PEOPLE she has around $80,000 in debt, accumulated from moving expenses, home and car repairs, vet bills, heating and air conditioning fixes, and over three years of impulsive spending. 

"I have taken to heart the idea of 'living below your means,'" Morgan, who asked for her last name to be omitted, shares.

"In the world of influencer marketing, the temptation is everywhere," she adds. "There is constant pressure to buy the next cool thing, upgrade your car, or always have the latest and greatest. When you keep overextending yourself, you are setting yourself up for financial stress." 

She notes that the constant desire to keep up with trends and the culture of consumerism is exhausting and "one of the worst feelings."

@morganresets

What’s the most unhinged way you’ve paid off debt?? I’m talking selling furniture while sitting on it, cutting your own hair instead of therapy, canceling every subscription you can think of. Give me YOUR methods. I’ll try anything. ???????????? #UnhingedDebtPayoff #GiveMeYourWays #NoSpendEra #HotMessFinancialPlan #SideHustleDelulu #DebtTok #FrugalAndFerocious #MillennialBrokeClub #BudgetButMakeItChaotic #MoneyMadness #DeluluIsTheSolution #FinancialReset ♬ original sound - NYES | Fashion

"I am working hard to cut back on all the extras and unnecessaries, as those are the purchases that sneak up on you," she says. "It's remarkable how quickly the small things add up. Spending $27 a day does not feel like a lot, but it is almost $10,000 a year."

Morgan says figuring out exactly how much money she was making every month compared to her living expenses was one of the first steps. She then made a "budgeting" plan.

"You have to know how much you need each month to cover your basic expenses. The second rule is to start cutting back on the unnecessary stuff," she explains. "Do you need 15 reusable cups? Or a whole bookshelf when you mostly read on your Kindle?"

"To get serious about our finances, we need to be honest about what we need versus what makes us 'happy' or fills a 'craving' at the moment," she adds.

"Last, you need to delete the temptation. You need to unsubscribe from the emails, unfollow the influencers, and delete the apps from your phone," she says. "You didn't know the 'must-have' existed five minutes ago, so it isn't a must-have. It is so much easier to stay on track when you are not being constantly tempted." 

She also set up an automatic transfer from her checking to her savings account, which helps her save money without even realizing it. 

"Having that small amount move over every time you get paid adds up so fast. I also added a small transfer to occur weekly because you barely notice it is gone."

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Amid her journey, Morgan started sharing her story on TikTok, but was admittedly "really nervous to start posting."

"I realized in my times of uncertainty and overwhelm when it came to debt and finances, the first place I turned to for support or to feel a community was TikTok," she shares. "Seeing other people share their stories there made me feel less alone and motivated."

"I decided that I wanted to do the same: to share my story, to hopefully help and encourage others, and to hold myself accountable on this debt payoff journey," she adds.

In a recent post, Morgan shared that she was looking for advice on even more ways she could cut down her five-figure debt. The video went viral, amassing 4.1 million views. 

Thousands of people offered suggestions, such as only grocery shopping online to avoid in-store temptation, downsizing, and getting a second job outside a normal nine-to-five.

Morgan found that her TikTok community was open and receptive to sharing their personal journeys, including the origins of their debts.

"People presume that debt always comes from overspending or bad budgeting or bad financial choices in general. It was eye-opening to see how many different types of debt people are dealing with, like credit cards, student loans, car loans, medical bills, vet bills, and others," she says.

"It is important to keep in mind that everyone lives a different life with different struggles and that everyone is doing the best they can with what they are dealing with."