Nearly at halfway point of reducing debt!

I have been plugging away at my debts and working lots of overtime etc. I started off with £15400 debt except I mentally blanked out my overdraft so it was more like £16000 :o.

Anyway, overdraft paid off and I am now down to £8717 outstanding. My snowball shows Aug 2010 as DFD. My ambition was to pay off debts by my 40th birthday which is Sept 2010.

I have not always been good and in fact this month I earned £500 overtime after tax and had a bit of a splurge on buying clothes and too much time sat in beer gardens in the sunshine.. spending money that could have got me down to the £7.5k mark and maybe shaved a month off the DFD. I am beating myself up about that a bit. I have also got £2k in savings which is I know is naughty as it should come off the debt but I feel worried without a backup fund.

There are times I have been so exhausted, I have sometimes worked all day and then done a night shift on a second job but then been back working the next day which has darn nearly finished me off but it is so reassuring to see the debt come down expecially with the credit crunch. I know the Working Time Directive police would have a fit!:T

It is all down to this site and the wonderful advice. I feel bad for not being on here much lately to put something back but will start to from now. Love you you all and to the newbies... I was suicidal this time last year and couldn't see a way out but there is light at the end of the tunnel. xx
Second and final LBM 01/01/11 Nearly got there but fell of wagon. HAVE to do it this time :mad:


  • fiveyearplan
    fiveyearplan Posts: 10,143 Forumite
    First Post First Anniversary Combo Breaker
    Good for you squirrel. Have you paid all that in just one year? And you could even pay off another 2K if you wanted to. Thats fantastic. Don't feel guilty about the clothes and beer garden, everyone is entitled to let loose now and again.

    :j :j

  • lilmissmup
    lilmissmup Posts: 6,884 Forumite
    Just wanted to say well done! :j

    You have to treat yourselves sometimes or else you just burn out.

    Good luck with paying off the other half :D
    Now a SAHM trying to earn some spare pennies each month
  • thepinkladez_2
    thats fantastic :j , gosh thats loads to pay off in a year, well done. Dont beat yourself up on the small relapses you wouldnt be human if you didnt have those! you deserve to have a splurge every now and then! look on the bright side you had a splurge with money you had rather than using any credit!!
  • poorandindenial
    Hi Squirrel

    You have made great progress, cutting your debt by half and exceeding your debt free target!!!

    Don't beat yourself up for the odd slip, if you were perfect all the time then you would be miserable and probably not human (and lets be fair, none of us really like perfect people anyway)

    Also if a back up fund makes you feel better then keep it, you never know, when that debt gets sub 2k you might just be tempted to throw the cash at it and kiss it goodbye.

    Well done on your great progress - hurrah!!!!!!!!!!!!!!
    £34,547 (Dec 07); Current debt: £zilch (Debt free December 2010)
    Sealed Pot #389 (2010=£133)
  • Squirrel29
    Squirrel29 Posts: 646 Forumite
    Good for you squirrel. Have you paid all that in just one year?

    Yes it is paid off in a year, I did the Olympic Challenge and will have exceeded £3008 extra money by the end of August. I have worked overtime, a second job and did Quidco etc. I also swapped to LOB credit cards and my parents paid off my expensive Cahoot Loan and I pay them back interest free. I will have to slow it down a bit now as do feel tired doing all the extra work and at the end of the day health is more important. I feel it is manageable now though.
    Second and final LBM 01/01/11 Nearly got there but fell of wagon. HAVE to do it this time :mad:
  • Uncommon_Advice
    Keep the motivation up. Best of luck!
  • phantom9999
    phantom9999 Posts: 107 Forumite
    Congratulations on your achievement so far!!!
    Lost 2 stone 12.5lbs since February 2011. :j
  • SouthernSoftie
    Well done you! You have to have the odd treat to keep yourself going, plus you are probably feeling bad over something you might've done without thinking. So.... doing this has made you think about money more, something I am definitely noticing.

    Thanks for posting, it makes the rest of feel there is hope.:T
  • gailey_2
    gailey_2 Posts: 2,329 Forumite
    First Anniversary Combo Breaker
    Thats fantastic amount in one year, u could be debt free sooner if u keep that pace up.

    Dont feel guilty you work so hard you deserve some treats.Also nice to have savings wish I had been so sensible.
    pad by xmas2010 £14,636.65/£20,000::beer:
    Pay off as much as I can 2011 £15008.02/£15,000:j

    new grocery challenge £200/£250 feb

    KEEP CALM AND CARRY ON:D,Onwards and upward2013:)
  • Bayblue
    Bayblue Posts: 1,826 Forumite
    Well Done!:T

    You're and inspiration to us all. And I know that working all those extra hours is tough, but what a lovely feeling it must be, to see your debt coming down so fast.

    On a selfish note I wish I got overtime- I mean I do 'overtime' but in my job it's not paid. I think it's time to go jobhunting again ;) .

    Oh, and I totally agree with the idea of having a back-up fund. You never know what's around the corner so it's only sensible IMO.
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