How do I work out my debt free date?

Jaffa_2

this website sounds good but not only do I need to work out when I'll be debt free but I need help on where to start with sorting out a budget.

Can anyone help

D&DD

Hi Jaffa welcome to MSE best way for getting help is to start a thread detailing your areas you need advice on and when ready post a full statement of affairs then hopefully we'll have some ideas to help

PJ1

D&DD wrote:

Hi PJ1 welcome to Mse when you feel ready try posting a SOA and we'll have a look for you see if we can help

Hi D&DD,
Thanks for that. How do I do a SOA that would make sense to everyone else-it doesn't make much to me!

D&DD

Hi PJ ,when I found this place at xmas my head was truly swimming I could see all these ways to cut down outgoings bills etc but it took me a good week or so to sort out all my paperwork(I used to 'file' things in drawers etc...)before I could even start! I dug out a nice file,sorted through ALL my festering piles of papers and started to make a list..
First I made a list of all my debts
Second I found all the paperwork relating to these debts (apr's,ppi payments etc)
Third I started searching thru the site for bills I already have and wanted to cut down on for example sky tv,I typed in a search and lo and behold 3 months halfprice..
Four Listed all my incomings and outgoings..truthfully!!
Five Started to work out a realistic budget which I'll be able to stick to

Hope this helps a bit for you getting started.. take a look at my signature down below..The big chunk I got rid of since xmas was off my a&l loan when I found we didnt need ppi as hubbie is already insured through work :rolleyes:

PJ1

PJ1 wrote:

Hi Everyone,
I've just been to this website as suggested but am now thoroughly depressed. I knew I had large debts but now I've found out it going to take me until Dec 2012 to pay them off!!! I'm not happy! (

As an amendment to yesterday's post (see above) I realised I'd made a mistake so recalculated and found my debt-free date is now Dec 2010 so with two years saved I'm feeling much happier now. Have 8 debts totalling £18,360 so its gonna be a long slog! Will be visiting frequently to help keep my spirits up! Good Luck everyone.

D&DD

Thats good news PJ think theres quite a few of us aiming for 2010 it'll be great to see everyone declare themselves debtfree..

FieryBlondeScot

i just worked mine out as dec 2009
initially a bit gutted but had to remind myself
1. would of prob been dec 2019 had i not got on the mse site and learnt all i know now
2. my debt is 13 grand, some peoples is 30grand
3. at least i am dealing with it!!

tee_pee_2

I have just been on the web site and I know my debt free date now but how do I put it on my posts like you clever people do?

Ps November 06 I will be debt free.

tee_pee_2

God I wish I was IT minded

tee_pee_2

Oh I did it HOORAY