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I am finally debt free

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......
«1

Comments

  • clearmydebts
    clearmydebts Posts: 6,485 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker I've been Money Tipped!
    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
    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
    Well done.

    Congratulations !!!!!!!!!
  • mogwai
    mogwai Posts: 1,252 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    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: 7,883 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    How did you go about it? Would you like to share?
  • tirlittan
    tirlittan Posts: 3,397 Forumite
    Part of the Furniture Combo Breaker Debt-free and Proud!
    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!
    Yay! Congrats!
    Debt Then 06.07 - £11,000 - Debt Now £0.00
     DFD Aug 2011
  • monitorsit
    monitorsit Posts: 44 Forumite
    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
    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
    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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