It's been a good year now - Almost there!

BigE_3

Hi all, just thought I would give a small update to let others know my progress. Also to spur on others and let you know it CAN be done.

Around 2 years ago, I was in £16k of debt, I had one loan, three credit cards and a large Overdraft.

I set myself a target to be rid of all apart from the OD within two years.

Two years down the line, I have just closed my last credit card account. It's such a relief, I was at £3k on each credit card. I sold my car and bought a cheaper one to run, that saved me around £180 a month. I stopped drinking alcohol for 6 months. Then had 2 months break, then another 6 months etc. The amount I saved was incredible.

I was able to save around £600 a month when tightening my pockets and restricting my spending. I was paying between £500-£800 back onto my cards. Without re spending on them, which was my main problem. So two years later, I am here with no credit cards, no car loan. And just a £1100 OD left. Which I plan to be rid of by December.

It's been really hard, and I havn't lived easy, on cheap foods, restricting my going out. And pretty much lived in the same cloths, without buying new ones.

But now I am aged 22 and I WILL be debt free by Christmas, if that's the case. I will sleep a hell of a lot better come new year.

So people in the same boat, keep fighting towards your goal. Everything is possible if your self disciplined and focused. There are brighter times ahead, and when you reach them. Life is a whole lot sweeter.

2009 will be a great year for me, with my average monthly outgoings around £600 a month. I will be able to enjoy the freedom of a spare £800/£1000 a month. And will actually be able to have savings! ( Although I may keep it all stashed at home in boxes with the banks at the moment )

Good luck everyone who's fighting to reach their goal, keep up the good work!

GeorgeUK

Nice one BigE. We'll want to hear about you officially becoming debt free though.

Well done.