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I am finally debt free

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xathras
xathras Posts: 37 Forumite
in Debt-free wannabe
Hey all,
About 5 months ago, I added a post to say that I have started to get myself sorted and cleared out of the debt situation.

As of today, I am finally Debt Free, No more credit cards, no more loan and overdraft wooo hooo - all in the middle of a credit crunch.

So as a word of encourgement to all, it can be done if you try.

I've now started to save for a car, wooo hooo......
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Comments

  • clearmydebts
    clearmydebts Posts: 6,485 Forumite
    First Anniversary Combo Breaker First Post I've been Money Tipped!
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    Congrats! It's great to hear that it can be done in the credit crunch!
    Total (Aug 19):€58,567 Now:€26,947
    DFD:Nov 22/June 22
    Mortgage: €199,712
    MFD: March 2042/July 2034
  • Dex
    Dex Posts: 596 Forumite
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    Congratulations! - I am very envious :)
    1 debt vs 100 days part 6-11total paid £8,135.86 Final Debt [STRIKE]6,948.61[/STRIKE] £3,174.94
  • sham11
    sham11 Posts: 5 Forumite
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    Well done.

    Congratulations !!!!!!!!!
  • mogwai
    mogwai Posts: 1,252 Forumite
    First Post First Anniversary Combo Breaker
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    Well done! Just in time too. :D Now you can a savings scheme sorted..
    We got rid of the kids. The cat was allergic. ;)

    Debt at LBM (Sep 07): £13,500. Current debt: [STRIKE]£680[/STRIKE] [STRIKE]£480[/STRIKE] [STRIKE]£560[/STRIKE] [STRIKE]£13[/STRIKE] £0 overdraft :D
    Current aims - to start building up savings
    1st £1000 in 100 days - £1178.03 :D 2nd £1053.38/£1000 :D 3rd £863.59/£1000 :o
     :j
  • DawnW
    DawnW Posts: 7,454 Forumite
    Name Dropper Photogenic First Post First Anniversary
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    How did you go about it? Would you like to share?
  • tirlittan
    tirlittan Posts: 3,397 Forumite
    First Anniversary Combo Breaker Debt-free and Proud!
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    Congratulations and well done!!!Can't wait to be debt free myself, not for a longwhile yet though. :(
    DEBT FREE OCTOBER 2012!
    Proud to have dealt with my debts!
  • Damita
    Damita Posts: 344 Forumite
    Debt-free and Proud!
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    Yay! Congrats!
    Debt Then 06.07 - £11,000 - Debt Now £0.00
     DFD Aug 2011
  • monitorsit
    monitorsit Posts: 44 Forumite
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    Well done from all of us. You are a brilliant example of what can be done if you put your mind to it.
    trying to earn more and spend less!
  • GlasgowNewbie
    GlasgowNewbie Posts: 5 Forumite
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    Many congrats and well done!!
    RBS CC £235 £0 BOS CC £1500 £788 0% int
    RBS O/D £1500 £1280 BOS O/D £850 £550
    Student Loan £5000
    Just graduated, want to clear debt and start saving.
    So need a MSE kick up the b.u.m:rolleyes:
    :money: This man for PM.
  • xathras
    xathras Posts: 37 Forumite
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    DawnW wrote: »
    How did you go about it? Would you like to share?

    Hi Dawn,
    I literally followed the tips from here.

    The first thing I did was look at my bank statements and look what I was spending each month.

    I was spending roughly £400 a month on things I didn't need, luxuries, over shopping etc. I started by cutting re-negotiating on my Mobile phone contract and insurance went from £40 p/m to £15 p/m

    I also stopped buying things i didn't need or spent less e.g. luxury icecream changed to shop brand.

    I also started to change the times I shopped, I went later to see what specials were available and found myself saving £15 a week.

    I stopped using the car when i didn't need it, short trips etc. and found my general £45 week top up, lasted for two weeks

    I did shopping around for car insurance, house insurance and saved a few hundred quid.

    There was also the fact I did a few extra hours each month at work to get a few extra ££££.

    It all added up... I then saw the fact I was having around £400-£500 each month spare and started to pay of my cards with it.

    I did treat myself now and again, but I always shopped around for the best deal rather than impluse buying...

    It all helps.
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