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    • ani*fan
    • By ani*fan 10th Jul 17, 7:41 AM
    • 1,543Posts
    • 3,930Thanks
    Ditching the last of the pizza debt
    • #1
    • 10th Jul 17, 7:41 AM
    Ditching the last of the pizza debt 10th Jul 17 at 7:41 AM
    Hi everyone

    I'm an old-timer around here and have managed to reduce my debt from £18,780 in February 2014 to £6,750 today. That's £12,030 paid off and I could not have done it without the help of Martin and everyone on here. Thank you, lovely people!

    I thought I'd start a new diary as my circumstances have changed considerably since Feb 2014 and it feels like a whole new stage of life. I'm about to be married; this is all saved for, who knew I could save? I've also bought a flat with OH; the deposit and fees were all saved for with some help from future in-laws too, who knew anyone would ever give me a mortgage? I've finished my training course, who knew I could do that? Things are good right now and the final hurdle is getting rid of this debt. OH refers to it as 'pizza debt', the debt I have nothing to show for, when I bought stuff I didn't need, for no reason, like takeaway pizza. It made me laugh and it's absolutely true.

    So, the debt looks like this:

    HSBC £4,950 0% 'til October 2018
    Overdraft £1,800 0% 'til September 2020

    HSBC is the target debt and I pay a fixed £150 every month towards this, roughly £20 over the minimum amount. The overdraft is not being paid off at the moment, other than once a month when my wage goes in. I discovered my credit is good when we got the mortgage and I'm trying to keep it that way.

    The flat we bought was an absolute bargain and has the potential to be beautiful but is in serious need of repair. This is the main ongoing financial concern at the moment and I am on it to keep costs right down. So far so good, but we'll see.

    A few things I've discovered along this debt-busting journey:
    • I've become quite good at managing money, but it can all go to bits in a moment so I still need to work hard at keeping on top of it.
    • Getting my debt on 0% was the single biggest factor helping to reduce the debt.
    • Car free living was the second biggest factor and I hope to never own a car again.
    • Keeping living costs down is very satisfying.

    So that's where I'm at. Feel free to comment, advise, whatever. It's lovely to be sharing this last part of the journey with you all.
    If you know you have enough, you're rich.
Page 6
    • ani*fan
    • By ani*fan 9th Feb 18, 3:27 AM
    • 1,543 Posts
    • 3,930 Thanks
    The 0% deals have come in from HSBC. Isn't it funny when they do that, because you have paid something off? Obviously I closed the account. They have consistently been the worst to deal with and I'm glad I don't have to put myself through any more phone calls with them. Yippee! I should probably phone them up and query the date my deal ran out, but I really just cannot be bothered.

    I picked up a beautiful old wooden wardrobe from freecycle so finally we have somewhere proper to stash our clothes, and for free. I then sold our 2 wobbly clothes racks we bought from argos, £15 for 2. I got a tenner for them, then spent it on a bottle of wine and some cake, with some change to live in my purse for a while and make me feel rich.

    My pal is coming to visit this weekend. Food has been included in the shopping and we're planning a frugal time. We'll see how that goes.

    I'm continuing to walk everywhere and take packed lunches to work, as is OH. I have gone days and days without spending anything. I'm well and truly out of the habit, it's great.

    After getting my name on the electoral role, and making sure all other name changes were done, I applied for a credit card and got accepted for £4k. I cancelled the card immediately, as obviously I won't be using it, but it looks like all is well in the world of credit ratings. I don't need to worry about the mortgage renewal now, good.

    Happy debt busting everyone.
    If you know you have enough, you're rich.
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