Paid debts off 16.12.09, now saving big stylee. Diary of an ex- money waster!!!

MoneyWaster2007

Heeey all!!!

As you may gather from the title, I have paid off all my debts: a loan of £10,000 and an overdraft of £700. Yeeeeeeeeeeeeees!!!!!!!!!!! Now time to save some serious cash. :j:j:j:j

I had a diary of my time battling the debt which you can find here:

http://forums.moneysavingexpert.com/showthread.html?t=1944743

I want this diary to keep me focused on saving on everything and hopefully some of you guys can help keep me motivated.

So far I have £8.24 in my ISA - not much, but I've only just started saving and I'm just well chuffed to see my account in the black!!! After being in debt for 7 years it feels amazing.

My sister bought me a digital money counting jar for Christmas and I love it, now I know how much I have in coppers all the time!! When it gets to £20 I will take it down the co-op to use their coppers machine and exchange it for notes.

Thanks for reading guys, will update regularly as my saving grow. :rotfl:

P.S. have any of you heard this song: Marina and the Diamonds- Hollywood??? I love it

cengkar

:T:beer::j

stressedaah30

well done
never heard of that song tho

MoneyWaster2007

Just transferred some money into my ISA, so now the balance is £88.07:j

Don't know what to save for tho, theres nothing I want really. Got to move out at some point so it will come in handy (still live with parents).

Fredula

Well done on paying off the debt! (Can I suggest to check whether sainsburies copper machine charges...because I think coinstar does and you don't want them eating up your savings!)

Just keep it in there! Interest and all that! Well done!

MushyPeas

Well done on paying off your debt :T:T:T

EC12345

Well done being debt free. Keep up the posting with your progress.

Pete*G_4

Well done on becoming debt-free, but...

MoneyWaster2007 wrote: »

My sister bought me a digital money counting jar for Christmas and I love it, now I know how much I have in coppers all the time!! When it gets to £20 I will take it down the co-op to use their coppers machine and exchange it for notes.

...these machines charge you for the service. Far better to take it to the Post Ofice or to the bank, it wouldn't cost anything to change up into to notes.

MoneyWaster2007

Thanks for the advice about taking my coppers to the bank rather than using a coin machine that takes a percentage of the money for itself (the cheeky buggars).

I've transferred my ISA from the Halifax to the Yorkshire Building Society as they offer 2.25pc apr, paid monthly. Halifax were only paying me 0.5pc - scandalous!

It can take up to a month for the funds to be transferred so I am told, so I'm having to keep my surplus income in my current account, where it is earning 0% interest.

So...I have managed to save £546.17 since clearing my debt last month and Im pretty chuffed about it This is only the beginning, wonder how much it will be this time next year....

....all this money I am saving is just going to be left untouched until I have enough for a mortgage deposit, but before then i need to get a better paid job, and a girlfriend, could really do with one of those

Everhopeful09

Well done on becoming debt free and your doing great with saving that amount already!

Once I'm debt free I can start saving for a mortgage deposit! Or just win the lottery! I'm with you on the better paid job, i could do with one of them & a b'fd!...preferable rich! lol

MoneyWaster2007

Good things come to those who wait

You too will become debt free eventually, it's just a case of taking things a day at a time and sticking to your plan.

Been looking at getting a 32 inch LCD tele for the pent house (my bedroom), but then I thought nah, I already have a half decent tele, so there's no point really. Just want to spend some money on something as a treat for the money I've saved, but in all honesty there isn't anything I want really. Except a mortgage which will make me more money in the long term....o yea and a nice girl, Everhopeful09 - what are your views on 25 yr old single men with no debt? hehe