Happy Dance

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Wimbrel
Wimbrel Posts: 70 Forumite
First Anniversary First Post PPI Party Pooper
edited 26 April 2016 at 5:56PM in Debt-free wannabe
I popped in here today to remind myself of how far I'd come and because, as I've kept all of my own issues to myself, I didn't have anyone to tell about the happy dance I've just been doing round the house.

Three years ago I was £42.500 in debt . I've been working my little socks off and living like a monk to set things straight . I came here a while ago to celebrate being down to £18.500 in debt and ask for advice on how to keep going. I got so much support.and it gave me a real boost.

I've just been doing my budget and working out what to pay off on what this month. If I do as planned ( and I will) I'll be down to *drum roll* £5850. of debt by March 1st.. No loans left, no overdraft left , a small emergency fund stashed in the bank and just three months away from finishing the credit card snowball which has taken me from 6 maxed out credit cards ( and insane interest) to two which are both well within limit (though the one I'm working on now still has a high interest rate) . By June I'll have just one credit card (which is at 12% interest and currently has a balance of £3400) and be on the very final leg of this journey.

I'm looking at my bank statements and outgoings and seeing how much difference each debt paid has made to speeding up the payments on the next one.

By August this year I will be debt free and able to start building some savings.:j

It's been a tough but rewarding process but so very well worth it.

If you haven’t already, join the forum to reply!
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  • craftingmad
    craftingmad Posts: 2,823 Forumite
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    Congratulations.


    You have done amazingly well :)
    Mortgage - £2338.07 BTL 1 £51,089.10 BTL 2 £81,504.52 BTL 3 £77,497.02 No Craft Spending in 2023 0/365 Stash Busting Challenge 2023 0/2023 [COLOR
  • 12_month_challenge
    12_month_challenge Posts: 2,419 Forumite
    Chutzpah Haggler Car Insurance Carver! Rampant Recycler
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    Wimbrel wrote: »
    I popped in here today to remind myself of how far I'd come and because, as I've kept all of my own issues to myself, I didn't have anyone to tell about the happy dance I've just been doing round the house.

    Three years ago I was £42.500 in debt . I've been working my little socks off and living like a monk to set things straight . I came here a while ago to celebrate being down to £18.500 in debt and ask for advice on how to keep going. I got so much support.and it gave me a real boost.

    I've just been doing my budget and working out what to pay off on what this month. If I do as planned ( and I will) I'll be down to *drum roll* £5850. of debt by March 1st.. No loans left, no overdraft left , a small emergency fund stashed in the bank and just three months away from finishing the credit card snowball which has taken me from 6 maxed out credit cards ( and insane interest) to two which are both well within limit (though the one I'm working on now still has a high interest rate) . By June I'll have just one credit card (which is at 12% interest and currently has a balance of £3400) and be on the very final leg of this journey.

    I'm looking at my bank statements and outgoings and seeing how much difference each debt paid has made to speeding up the payments on the next one.

    By August this year I will be debt free and able to start building some savings.:j

    It's been a tough but rewarding process but so very well worth it.


    Thank you for sharing

    Its posts like yours that give me inspiration and encouragement to carry on tackling my debt.

    I am snowballing my CCs and can see a difference already

    A very big well done to you. I too hope to be posting like yours one day :)
    SP 9#531=£620/SP 10 # 531=?PDBX 2016 #2 = £16,766.67/£12,000
    PDBX 2017 #2 = £1,200/£12,000

    ''If you want the rainbow, you gotta put up with the rain''
  • timefortea
    timefortea Posts: 328 Forumite
    First Anniversary First Post Debt-free and Proud!
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    That's really amazing, well done!

    I feel the same way about the secret happy dance (though on a smaller scale, because my original debts were smaller than yours, so your achievement is much greater). I haven't wanted to tell anyone that I was in debt, but then I've got no one to share with when I pay something off or pass a milestone. My little victories go unnoticed, except on the Challenges board.
  • darcyboo
    darcyboo Posts: 105 Forumite
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    WOW, that's incredible progress you've made, congratulations!
    2021 MFW #130. Target: £300/£2500
  • nextyeartina
    nextyeartina Posts: 756 Forumite
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    Well done :):):)
    The £1,000 emergency fund challenge #163 - £536.16/£1000
  • Wimbrel
    Wimbrel Posts: 70 Forumite
    First Anniversary First Post PPI Party Pooper
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    Thank you

    At the beginning it seemed impossible but it's amazing how much things sped up once the snowball started to roll and I was fortune with a PPI claim ( I hadn't thought I had ever had PPI but wrote and asked my bank to check and, one phone call from them and a signature from me and I snowballed an entire CC with the refund!):beer: That one thing knocked 6 months off this journey.
  • tking
    tking Posts: 72 Forumite
    First Anniversary Combo Breaker
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    That's awesome - you'll be as addicted to saving once it's all gone and amaze yourself with your turnaround.

    Well done!
    Saving hard for Financial Independence
  • LionessInWinter
    LionessInWinter Posts: 437 Forumite
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    Well done, you're almost there
  • mrs_motivated
    mrs_motivated Posts: 1,606 Forumite
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    Congratulations, that's amazing going! Wont be long now and the savings will begin to mount up
    Well Behaved women seldom make history

    Early retirement goal... 2026

    Reduce, reuse, recycle .
  • asparagus1968
    asparagus1968 Posts: 1,787 Forumite
    Debt-free and Proud!
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    well done so far, the end is in sight :):):)
    LIVE SIMPLY * GIVE MORE * EXPECT LESS * BE THANKFUL

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