Debt free in 23......
zenshi
Posts: 1,116 Forumite
I thought I would start a diary as motivation. Seeing things in black and white really helps and my aim is to update at least once a week.
I have no idea how long I have actually been in debt but it became unmanageable at the beginning of the year. Although how I managed the year before I really don't know. Anyway I had my LBM in April of this year and my daughter gave me the title thread as my motto!
Bit about me.... I grew up in a family without much money so was used to the hand me downs etc. when I got married and had the kids, we were comfortable and a few years down the line bought a larger house to renovate.....3 months later I found myself on my own after the then husband left! He was great about supporting the kids financially, they were 6 and 8 at the time and it was tough.
I put myself though college and started my own business.The kids knew the score and didn't get everything they wanted but I made sure they had the important stuff. They got jobs as soon as they were old enough to buy their phones etc. they learned to budget for themselves from an easy age.
Roll on through their teenage years and business is going well. My daughter went to Uni and spent the summers in the US working. My son got a full time job for a few years before leaving for the Forces. DD now has a 2:1 degree and DS is a Royal Marine...I am so proud of both of them
This is when it started going wrong....business took a dive, I lost my sons board money etc
The kids have both been very supportive to me and DD has now moved back home for a year while trying to save for her Masters. She is now buying and making the meals for us as her board contribution until she gets a job. I too am looking for a job to supplement the business
Currently, I would say roughly my debt runs at 23 K . Most of the creditors have frozen interest and I am in a self managed DMP as even Stepchange and the like wont help as I don't have enough spare for them to set me up a plan!!!! If had more, I wouldn't be in a mess!
On the upside after 15 years of renovating, the house is nearing and end and its surprising what you can learn to do when you have no money and things need doing! I'm quite a dab hand at electrical work, plumbing, brickwork, actually most things bar plastering. I just can't get the hang of that
Oh and I have two manic dogs and a very shy retiring cat
I have no idea how long I have actually been in debt but it became unmanageable at the beginning of the year. Although how I managed the year before I really don't know. Anyway I had my LBM in April of this year and my daughter gave me the title thread as my motto!
Bit about me.... I grew up in a family without much money so was used to the hand me downs etc. when I got married and had the kids, we were comfortable and a few years down the line bought a larger house to renovate.....3 months later I found myself on my own after the then husband left! He was great about supporting the kids financially, they were 6 and 8 at the time and it was tough.
I put myself though college and started my own business.The kids knew the score and didn't get everything they wanted but I made sure they had the important stuff. They got jobs as soon as they were old enough to buy their phones etc. they learned to budget for themselves from an easy age.
Roll on through their teenage years and business is going well. My daughter went to Uni and spent the summers in the US working. My son got a full time job for a few years before leaving for the Forces. DD now has a 2:1 degree and DS is a Royal Marine...I am so proud of both of them
This is when it started going wrong....business took a dive, I lost my sons board money etc
The kids have both been very supportive to me and DD has now moved back home for a year while trying to save for her Masters. She is now buying and making the meals for us as her board contribution until she gets a job. I too am looking for a job to supplement the business
Currently, I would say roughly my debt runs at 23 K . Most of the creditors have frozen interest and I am in a self managed DMP as even Stepchange and the like wont help as I don't have enough spare for them to set me up a plan!!!! If had more, I wouldn't be in a mess!
On the upside after 15 years of renovating, the house is nearing and end and its surprising what you can learn to do when you have no money and things need doing! I'm quite a dab hand at electrical work, plumbing, brickwork, actually most things bar plastering. I just can't get the hang of that
Oh and I have two manic dogs and a very shy retiring cat
LBM.....sometime in 2013 £27,056. 10 creditors
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,764
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,764
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Comments
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Happy new diary
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Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
Very, very best of luck to you. Life seems to kick us pretty hard sometimes but you sound like one hell of a mum and I am sure you will get through this - nothing else seems to have kept you down!
Credit Card Freedom gained 14 Feb 2014!!Total Debt Freedom gained 29 Apr 2014!!Savings goal 30/9/23: £72,000/£538,001.....yes I'm serious!Total Debt August 2013: [STRIKE]$21,587[/STRIKE] April 2014: $0!!!!:j0 -
Joining you on your journey, good luck.0
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Well, this is going to be interesting! As I said, my daughter has taken control of the cooking and the food budget. She has stated she will feed us both for £120 per month and I'm not talking beans on toast!!!
She was a student for five years and refuses to eat crap. I will do a weekly menu with costs as it seems you can eat very well for little money. I was a jacket potato girl before as I didn't have time
A snippet....tonight we had sweet and sour parks balls, battered with stir fry veg and rice....totally home made and cost just £1.49 per person and tasted just like take out!!LBM.....sometime in 2013 £27,056. 10 creditors
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,7640 -
wow, sounds lovely.. I just can not budget food wise, just buy buy buy! Have been trying to master it since my LBM which no such luck!
Good luck on your DFJ, you will get there!! xMarch 2013 LBM so here goes....PAID OFF £6944! Unfortunately have built it all back up again! Amounts to be added up soon! Scare myself into action! 30/05/2018 LBM 20 -
Not a great deal to report. Work has been quiet but have had a bit. DD has a job interview lined up for Saturday, so fingers crossed there. That'll mean some board money
I haven't heard back from the job I applied for yet
My idea of eating on a budget is beans on toast or jacket spud but as DD been a student for the last 4 years its not her idea hence her cooking. We have had some wonderful meals this week averaging less than £1.50 per person for a main meal
Picked up a few MS jobs this week and two more hopefully on Saturday while waiting for DD in interview. Until she gets a job, I am her taxi :eek: sold a few things this week that covered the printer I had to buy for CVs etc and if wether stays nice we will be car booting this weekend...after finally sorting out the boxes in the loft that have been unopened for the best part of ten years :eek:
Fingers crossed for a good month aheadLBM.....sometime in 2013 £27,056. 10 creditors
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,7640 -
Interested to hear the sort of meals your daughter is making for £1.50 per head. 2018 totals:
Savings £11,200
Mortgage Overpayments £5,5000 -
Interested to hear the sort of meals your daughter is making for £1.50 per head.
I will be posting our meals once a week with costs but all info is on her laptop, will update tonight LBM.....sometime in 2013 £27,056. 10 creditors
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,7640 -
Yes, please my wife and I could do with some cooking tips, lol!2018 totals:
Savings £11,200
Mortgage Overpayments £5,5000 -
Hello Zenshi,
Good luck on your debt free journey, really interested to see where this takes you and also the meals your DD is cooking up for you both.
Subscribed.YNAB is my new best friend.0
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