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Yukkibear - The debt free life begins with a whole new set of challenges
yukkibear
Posts: 5,556 Forumite
On 23/4/09 I started a diary stating how I had just got a £3k loan to pay for a car. This loan was to be paid over 3 years, but today it has been cleared :j:j.
I already knew it would be paid in less than three years and had set a target of 1 year, through sheer stubborness and determination. I realise that £3k isn't a massive amount of debt but for me it was horrible and I'm glad it's gone.
Along the way it emerged that my OH also had a couple of small debts amounting to around £700, which whilst not a huge amount still was more than he should have had.
So how did I do it?
I worked hard for six months, until last month when I literally ran out of steam. During that time I ebayed, did my scratchcards, played free bingo, traded old phones, sold large items through the freeads, sold on amazon, some matched betting, and generally took advantage of every offer that was going.
It wasn't easy, but I am very proud of myself for achieving what I have. I got to £1037 and it has stuck there for a month. This morning my OH paid the rest off for me as he rejigged his finances and we are now debt free because of this. I don't feel cheated that he ran to the finish line instead of me as I thought I might, more relief that we can look to the future now.
When the loan started we were about to set a date for the wedding and that was put on hold because of the loan, so hopefully in the new year we will pursue this again.
There is lots of challenges I want to achieve in my life, but whilst I want all the rewards from scrimping and saving, I realise that life is too short and will be enjoying life as well.
I have joined the MFIT over on the MFW board, and whilst I wont be going all out to overpay on the mortgage, we do have a provision for this now.
So yesterday I sorted through the savings accounts and gave them all names.
Currently we are saving for an emergency buffer, a wedding, home improvements (which first target is DD1's bedroom), and overpayments to the mortgage.
We are planning on doing this (well more me than we), by trimming the budget where possible, earning all the extras we can and getting some bargains along the way.
I hope no-one minds me setting up camp here despite not being a DFW anymore.
I already knew it would be paid in less than three years and had set a target of 1 year, through sheer stubborness and determination. I realise that £3k isn't a massive amount of debt but for me it was horrible and I'm glad it's gone.
Along the way it emerged that my OH also had a couple of small debts amounting to around £700, which whilst not a huge amount still was more than he should have had.
So how did I do it?
I worked hard for six months, until last month when I literally ran out of steam. During that time I ebayed, did my scratchcards, played free bingo, traded old phones, sold large items through the freeads, sold on amazon, some matched betting, and generally took advantage of every offer that was going.
It wasn't easy, but I am very proud of myself for achieving what I have. I got to £1037 and it has stuck there for a month. This morning my OH paid the rest off for me as he rejigged his finances and we are now debt free because of this. I don't feel cheated that he ran to the finish line instead of me as I thought I might, more relief that we can look to the future now.
When the loan started we were about to set a date for the wedding and that was put on hold because of the loan, so hopefully in the new year we will pursue this again.
There is lots of challenges I want to achieve in my life, but whilst I want all the rewards from scrimping and saving, I realise that life is too short and will be enjoying life as well.
I have joined the MFIT over on the MFW board, and whilst I wont be going all out to overpay on the mortgage, we do have a provision for this now.
So yesterday I sorted through the savings accounts and gave them all names.
Currently we are saving for an emergency buffer, a wedding, home improvements (which first target is DD1's bedroom), and overpayments to the mortgage.
We are planning on doing this (well more me than we), by trimming the budget where possible, earning all the extras we can and getting some bargains along the way.
I hope no-one minds me setting up camp here despite not being a DFW anymore.
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Comments
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Good for you, YB! :T
It's great to see people really working at their debts & then enjoying a debt-free life. I find it an inspiration & I'm sure many others do too so definitely stay
Besides, we bears should stick together
@ LBM = £15,872.65, now £10,819.82AF Jan = 7/? Feb = 5/14 Mar = 14/20 Apr = 6/14 May = 2/14 June 2/14 July 0/TF Aug 1/TFv Sept 6/TF Oct 4/7"NEVER DOUBT YOUR OWN QUALITY"0 -
great to see you reach the finishing line.
We don't mind you sticking round on here, you'll be a constant reminder that debt freedom is achievable. Hope you've posted on the roll of honour!0 -
Excellent news Yukkibear,
I am sure that the reason your OH was able to pay the last chunk off, is because of the money you've saved the whole household over the last seven months, freeing up some of his money .
It's great that you are working as a team. It will stand you in very good stead with the rest of your goals.
All the best.I learned that courage was not the absence of fear, but the triumph over it. The brave man is not he who does not feel afraid, but he who conquers that fear.0 -
well done yukkibear. i left a well done message on the 1 debt vs 100 days thread. you've done really well and like scrooge said your OH probably couldnt have done it without your help anyway.
good luck on the next stage of your journey now but remember to take some me time as well.Goals for FebruaryDeclutter 2/50Money Made £0/£200Overpayments £0/£2000 -
Great to hear your news and to see your sparkly new diary here!2019 fashion on a ration 0/66 coupons0
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You have done brilliantly and worked very hard!
Will be great to have you still around and see you saving up for the wedding etc!0 -
Well Done yukki on getting rid of all those debts!
Glad your pipeline plan worked out for you!
keep up the good work:j Proud mum to Jade age 10 years and Baby Ellie born Christmas Day:eek: with a broke heart
Proven to be a little fighter and battling on with her heart condition :j
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Well done Yuk, thats brilliant news, you deserve it!
xThe very best things in life ... are free!
Challenges for 2010: Sealed pot challenge n.o.855 - £365 in 365 days challenge (pay for xmas in 2010) £21 - Make £5 a day in Jan challenge £0.00/£1550 -
Thanks everyone
It is a good feeling.
Today went well and I won £10 on BB but think my time is coming to an end there. I also received £19.87 from a TAB bingo win from the free scratchies which is great.
It's so nice to think that I can work really hard to get what I want but if I want a day or three off I can and it wont make the debt last longer.
I will be happier when I have more of a buffer in savings but it's a good start.
Need to work on my signature soon.0 -
YB that's brilliant - well done to you!! If you do half as well on your savings targets and mortgage-bashing then you'll be putting me to shame in no time! :beer:🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0
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