how far have you come this year?

JES_F1

Great thread!

This time last year, I think I was starting to realise things were going (or had gone) a bit pearshaped, and that I'd have to face up to being in a bit of a mess! In January, I finally saw the light.

In general, I was managing to meet my minimum payments but had started to miss the odd one or two, which I then would pay but then need to stick more on cards to last out the month ... and a vicious circle had begun!

I was also in denial about how big my debts were. I thought they were *only* £25,000 when in fact it was over £45,000. When I first saw that total, I cried and cried and cried!

I found out about the CCCS and set up a debt management plan. It was the best thing I could have done. The first couple of months were a bit grim, fending off calls and letters, but now all is quiet, interest/fees have been stopped - and I can see my debt coming down.

I also feel I've learnt a lot about money - and that once I'm debt free, I can have a good life within my current salary without the need for endless credit cards.

I do find I have the odd glitch - like buying boxes of chocolate biscuits in Marks just because they were on offer - and I sometimes struggle with doing everything on the cheap, but I've come a long way in less than a year!

I've also enjoyed doing the £10-a-day challenge, and am tempted to sign up to other challenges too. I've signed up to Quidco and GreasyPalm, and other sites for clicking. A year ago, this would have all been too much hassle and I'd have dismissed them all as pointless! Oh how one learns!

I'm not going to say I shall never have another credit card as used "properly" and sensibly can be invaluable. But for the time being, life is OK without them!

Numpty_Monkey

Well I've been to Glasgow and to Brighton,:beer: which for me is far (not been out of Leeds for 2 years)
Thanks to some lovelly DFW's:A, and I've started trusting people again:o

Finacialy, not much has changed, except now I'm on a DMP, and can afford to eat:D
and I feel better prepared and more enabled to tackle the debts better next year:D

In_Search_Of_Me

An up and down year for me debtbusting but plan to do better next year. I do struggl with the balance between living and debtbusting (as a longhauler) and know that I could have done better so onwards and upwards to a new new year and more paid off next year! Regardless I'm still on the right track - just didnt pay off as much as I could have!

itsnever2lateisit?

My sig says it all, thanks to a 0% balance transfer in 2007, all the help and advice from the folks here, a 2nd p/t job, I have cleared the lot. So 2008 has been a good year. But not looking forward to the new year, work looks bleak, so I might be posting back here more frequently. But your a lovely bunch, apart from the folk on the old style board, the others (yes I ventured into the savings and investment board among others) are a teachy lot at times:p

cassy

well done to everyone,

my self i have had major problems this year, still on a DMP only just holding my head above water,
almost lost my house back in may
hubby lost job in june

killing ourselfs making payments from 1 wage but just pulled through to when hubby got new job in september, but now in arrears with everything, but as we can no longer get credit at least we havent added to our debt will be a bleak christmas no money for gifts or food but 2009 can only be better

painted_lady

Only skim rea some replies so far, but looks like everyone is doing great.
I have had a strange year, spent the first few months on unpaid maternity leave and the last few months on long term sick leave. Overall, I havent paid a huge amount off my debt, maybe about £3000, but it helps. I havent however got any new debt and I am more careful with money.
I have developed 2 part time businesses I now run part time and aim to do this more next year, one of them pretty much runs itself and the other one I am putting money into marketing now to hopefully achieve some bookings for next year.

jpwhittle

cassy wrote: »

well done to everyone,

my self i have had major problems this year, still on a DMP only just holding my head above water,
almost lost my house back in may
hubby lost job in june

killing ourselfs making payments from 1 wage but just pulled through to when hubby got new job in september, but now in arrears with everything, but as we can no longer get credit at least we havent added to our debt will be a bleak christmas no money for gifts or food but 2009 can only be better

if you live near lincoln you can come to me for christmas dinner. i always cook to much. be warned i have a 3 year old and 8week old lol

American_Dreamer_2

Only really got into DFW mode a couple of weeks ago despite registering back in July. However I am already looking forward to posting on this threads subject in 12 months time. Well done to all the DFW's on their fantastic efforts.

LilacPixie

In the last year we have cleared around 8k of debt and had our second child. A plan is in place that should mean we are df and mf within 5 years.

AmericangirlinUK

Hi everyone... my first post, though I've been a reader of this site for ages.

Well, in response to this excellent question, this time last year I had terrifying debt and I began to get alarmed when previously reasonable cards raised their rates from 6.9% to 11.9% to 13.9% to 19.9% even though I'd never missed a payment. I had always been able to make the min. payments but the principal never seemed to decrease and I finally decided enough is enough.

I stopped charging anything then gave up my large flat, rented a small room in a friend's house instead, and compressed my outgoings to just public transport, rent and food. (I'd been used to a large place... entertaining... travel... the works.) Instead of eating out, I meet friends for free movie nights or walks or the zoo etc, use the library for books and DVDs, sell excess stuff, travel by bus if necess. instead of train & flights, no far-off flight hols, have got the cheapest mobile, bring a packed lunch to work, no frills at all. Suddenly there seems to be time to write letters & be more in touch with people. Walking the couple of miles to work & discovering local fruit & veg markets has made me a good deal healthier as well.

Living this way since March I've been able to put over 1/2 my income toward debt reduction making large payments to the highest interest cards first. I think of this whenever frustrated by living in a tiny room & thank goodness I have a job to see me through. I've made extra card payments of 1000s this year and another going in shortly which will get rid of the highest interest rate debts. Then it will be only one card at 6.9% and if I keep going this way, will be able to pay that off by next summer.

So I'm not very glam these days... but you find out who your friends are. My method is a bit extreme & probably not for everyone (it's easier as I'm on my own) but paying the debt comes first. Once it is paid I will build my emergency fund with the same amount of contributions/month then move forward.

Also as a Yank may I just say to all on this site, it's our Thanksgiving holiday today and among many other good things I'm thankful for the warmth and genuine helpful spirit seen every day here. So good to find in this cold world, long may it flourish! Thank you all.