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  • FIRST POST
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 24th Sep 17, 1:22 PM
    • 3,375Posts
    • 21,342Thanks
    HairyHandofDartmoor
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    • #1
    • 24th Sep 17, 1:22 PM
    Finally Debt Free After 34 Years, But Still Need to Live Frugally 24th Sep 17 at 1:22 PM
    My DH and I have been in debt for 34 Years, apart from brief periods, ever since I was offered my first credit card at the tender age of19.

    Our debts were caused by us being impulsive spenders and not being very skilled at budgeting or managing our money, so we know it is our own fault. We always believed that one day we would have more money, mysteriously, and that this would bail us out .

    Our full light bulb moment came when we realised, "What if we never have any more money than we do right now?"

    A couple of years ago we were coping with the minimum payments, but didn't have enough to overpay on any of them. We were forking out £1300 a month in minimum payments, and the interest alone was £1000 a month .

    But then in 2015 our small business started to bring in less, and a family bereavement, and illness affected our ability to work. We could no longer afford the minimum repayments and we were scared we would lose our home. We were stricken with stress and depression .

    Step Change shone a light in the darkness for us and they arranged for us to make token payments of £1 a month to our creditors. This saved our sanity and we were reassured that our home was unlikely to be taken from us.

    My DH recently turned 55 and drew out his pension so that we could make full and final offers to our creditors. All but one accepted an offer of 50% of what we owed (which is all we had to offer). We are continuing negotiations with the final creditor and hope to be debt free by Christmas .

    Being so close to being debt free has made me realise what a heavy burden the debts have been all these years, like living our lives wearing lead boots.

    Once we are debt free we will still need to live very frugally because we have no emergency fund or savings, and our income can be irregular. I hope that starting a diary will help to focus me on frugal living, avoid impulsive spends, and keep my spirits up. Because frugal living can be a lonely and isolating experience.

    This site and Step Change has helped me so much, and I hope that my diary will help to inspire others that it's never too late to change your life .
    Last edited by HairyHandofDartmoor; 18-11-2017 at 9:49 AM.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £818/Emergency Fund 2 = £0/Loss of Income Fund £0
Page 106
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 9th Feb 18, 7:13 PM
    • 3,375 Posts
    • 21,342 Thanks
    HairyHandofDartmoor
    We had a lovely quiet day today, I could do with some more of those! We had an early night and slept soundly so I felt much better this morning .

    I went for my walk this morning and saw some lovely spring blossom on a tree. My totals for today so far are: 11,827 steps, 31 floors, 5.51 miles and 33 active minutes.

    Then we got some work done. I got a wash on and it's all drying on the clothes horse and radiators now, I refuse to tumble . We even managed to have the heating off for a few hours by wearing our coats indoors .

    I heard from DS2 . I messaged him and he actually replied! He said he went to the aquarium yesterday and saw sea otters .

    We finished work early as DH felt shattered and we'll have another early night tonight.

    Happy Friday everyone .
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £818/Emergency Fund 2 = £0/Loss of Income Fund £0
    • WannabeFree
    • By WannabeFree 9th Feb 18, 7:15 PM
    • 1,079 Posts
    • 8,831 Thanks
    WannabeFree
    Happy Friday

    Sounds like you got some much needed sleep and fresh air

    Glad DS is having fun

    x
    “Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.”
    • beanielou
    • By beanielou 9th Feb 18, 7:39 PM
    • 50,509 Posts
    • 193,014 Thanks
    beanielou
    Happy FRiday to you
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "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.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • abba1772
    • By abba1772 9th Feb 18, 8:02 PM
    • 4,336 Posts
    • 14,246 Thanks
    abba1772
    Aww how lovely to hear how da2 is getting on xx
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £2944.72
    POAMAYC 2011 £6382.66 POAMAYC 2012 £5000.78
    POAMAYC 2013 £3480.04 POAMAYC 2014 £4085.14
    POAMAYC 2015 £7565.24 POAMAYC 2016 £8000.90
    POAMAYC 2017 £7278.80 POAMAYC 2018 £1874.24
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 9th Feb 18, 8:07 PM
    • 3,375 Posts
    • 21,342 Thanks
    HairyHandofDartmoor
    Happy Friday

    Sounds like you got some much needed sleep and fresh air

    Glad DS is having fun

    x
    Originally posted by WannabeFree
    Happy FRiday to you
    Originally posted by beanielou
    Aww how lovely to hear how da2 is getting on xx
    Originally posted by abba1772
    It makes me so happy when I hear from DS2 and knows he's safe and happy . I hate him being 4,000 miles away.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £818/Emergency Fund 2 = £0/Loss of Income Fund £0
    • Cumbria lass
    • By Cumbria lass 9th Feb 18, 8:26 PM
    • 1,364 Posts
    • 7,773 Thanks
    Cumbria lass
    Good on DS2 for being in touch. You will sleep better for knowing this.

    Glad you got to go for your walk , it makes you feel better , it was a bit cold up North today.
    Jan 2018 CC1 £3099 CC2 £220

    Debt Free Nov 2019: earlier if I have my way
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 9th Feb 18, 8:28 PM
    • 3,375 Posts
    • 21,342 Thanks
    HairyHandofDartmoor
    Thanks Cumbria .

    I always sleep better after my walk. It's cold here too, but it makes me walk faster .
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £818/Emergency Fund 2 = £0/Loss of Income Fund £0
    • Seasidegal58
    • By Seasidegal58 9th Feb 18, 8:31 PM
    • 1,582 Posts
    • 9,375 Thanks
    Seasidegal58
    You had an eventful couple of days Hairy - glad you appear a lot better and got some much needed sleep!

    D2S seems to be enjoying himself and good to hear that he is keeping you up to date with his goings on!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Save for New Kitchen!
    My diary: “Paid off the £31,0000! BUT- still scrimping!”
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 9th Feb 18, 8:38 PM
    • 3,375 Posts
    • 21,342 Thanks
    HairyHandofDartmoor
    Thanks SSG . I had a look at Dwell and your marble side table looks lovely .

    Right I'm off to bed now as I'm struggling to keep my eyes open. Night everyone.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £818/Emergency Fund 2 = £0/Loss of Income Fund £0
    • Sun Addict
    • By Sun Addict 9th Feb 18, 8:50 PM
    • 5,213 Posts
    • 32,946 Thanks
    Sun Addict
    Hope you get a good night's sleep HH.
    Virtual Sealed Pot 2018 £153.08
    Jan NSDs 4 Feb AFDs 1
    Weight loss 4/10LBS Emergency Fund £2000/£10,000
    April holiday £0/£900
    Dining room fund £150
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 9th Feb 18, 9:00 PM
    • 3,375 Posts
    • 21,342 Thanks
    HairyHandofDartmoor
    Thanks SA
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £818/Emergency Fund 2 = £0/Loss of Income Fund £0
    • beanielou
    • By beanielou 9th Feb 18, 9:16 PM
    • 50,509 Posts
    • 193,014 Thanks
    beanielou
    Sweet dreams
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "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.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • WannabeFree
    • By WannabeFree 9th Feb 18, 9:20 PM
    • 1,079 Posts
    • 8,831 Thanks
    WannabeFree
    Hope you get a good nights sleep

    Night

    x
    “Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.”
    • Seasidegal58
    • By Seasidegal58 9th Feb 18, 9:32 PM
    • 1,582 Posts
    • 9,375 Thanks
    Seasidegal58
    Night night and sweet dreams. I think some good sleep is in order after your eventful week.
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Save for New Kitchen!
    My diary: “Paid off the £31,0000! BUT- still scrimping!”
    • in need of direction
    • By in need of direction 9th Feb 18, 11:17 PM
    • 4,847 Posts
    • 27,616 Thanks
    in need of direction
    My DS is currently in week 2 of a 2 week holiday in Oz. Even though he lives in London, I still get anxious when he's a distance away.
    Mortgage at 01.01.14 £119,481.83 today £78,892.61, target £65,000 by 31/12/18 Offset fund today £4,075.43 target £5,500 by 31/12/18
    Emergency fund £3.5/5.5k & £200/200 cash.
    Current weight loss10/32 by 28 feb 2018
    determined to stop defining myself by my mistakes.
    Progress not perfection.
    • Nicnak
    • By Nicnak 10th Feb 18, 8:02 AM
    • 818 Posts
    • 4,603 Thanks
    Nicnak
    Happy Saturday!
    Usual day?

    Glad you have heard from DS sure he will be fine xx
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 10th Feb 18, 8:41 AM
    • 3,375 Posts
    • 21,342 Thanks
    HairyHandofDartmoor
    Sweet dreams
    Originally posted by beanielou
    Hope you get a good nights sleep

    Night

    x
    Originally posted by WannabeFree
    Night night and sweet dreams. I think some good sleep is in order after your eventful week.
    Originally posted by Seasidegal58
    Thanks all .

    I put my light out at 9.30 pm but my sore throat and runny nose got worse in the night so I was a bit restless. It's developed into a full blown head cold this morning .

    But at least I don't have to work today
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £818/Emergency Fund 2 = £0/Loss of Income Fund £0
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 10th Feb 18, 8:45 AM
    • 3,375 Posts
    • 21,342 Thanks
    HairyHandofDartmoor
    My DS is currently in week 2 of a 2 week holiday in Oz. Even though he lives in London, I still get anxious when he's a distance away.
    Originally posted by in need of direction
    It's because it's so far away, you can't get to them quickly in an emergency .

    I'm sure we worry quite unnecessarily though, they are very capable of looking after themselves.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £818/Emergency Fund 2 = £0/Loss of Income Fund £0
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 10th Feb 18, 8:47 AM
    • 3,375 Posts
    • 21,342 Thanks
    HairyHandofDartmoor
    Happy Saturday!
    Usual day?

    Glad you have heard from DS sure he will be fine xx
    Originally posted by Nicnak
    Yes my usual Saturday jaunt, a head cold won't stop me
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £818/Emergency Fund 2 = £0/Loss of Income Fund £0
    • WannabeFree
    • By WannabeFree 10th Feb 18, 8:50 AM
    • 1,079 Posts
    • 8,831 Thanks
    WannabeFree
    Have a lovely day HH

    Hope you're feeling better soon

    x
    “Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.”
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