Lightbulb Moment

Crown

Hi John,

I have not read your diary in a while and have just caught up with your progress. Your heading in the right direction and your organisation should be applauded.

Just to go back to your post regarding Clason's Richest Man in Babylon.

This is one of my favourite books and I remember what an impact it had on me reading it for the first time. I now try and reread it every 6 months as the principles in there are formula to financial success.

with regards to the 10% of earnings saved I did this for a year even though I had debts. It is a great feeling to have that Money knowing that it "yours to keep" and as you say oppurtunities do come along.

I was able to buy the contents of a shop for a stupidly low price and resell it for making nearly 400% profit within a month. Without the savings this wouldnt be possible as I only saw the shop was being cleared and made an offer to the landlord for instant cash. It also has a psychological effect that your Debt journey isnt in vain.

Unfortunely I was made redundant and my savings had to be used and I am now spending all the money I earn on my debts. Reading this post has reminded me of itthough and I am seriously thinking of going back even though as you say mathematically it doesnt make sense.

Sometimes I feel the psychological wellbeing is more important. Cheers for the reminder and sorry for a long post

jo1972

Hi John,

I've just seen your thread for the first time and sat and read it, took me 2 hours (my boss will be pleased!!! )

You are such an inspiration and have really given me a kick up the backside, I really need to see what's going on with my SOA. :eek:

I wish you all the luck in the world and hope that you are completely debtfree very soon.

Keep posting your weekly updates, I will keep my eye out for your progress! :T

Jo.

Verbatim

Have been catching up with your (highly impressive) progress John.

Congratulations especially on kicking the smoking habit.

What happened with the cycling to work? It's not much fun in the cold, wet and dark winter months but have you started again now?

coxj2901

Hi Verbatim,

I haven't been cycling to work as we sold the bike on ebay! I found it ok (ish) in the summer months but it wasn't really feasible in the winter months.

Quick update regarding the finances we now only have the debts listed in my signature :rolleyes: The debts we have finished paying off which weren't listed were £500 to family, £400 Next and £83 Abound Catalogue.

We can now focus soley on the debts listed below :j

We're getting there slowly but surely.....................................

Rgds, John

P.S Thanks for the comment Jo1972

findingmyownway

well done, you are doing an amazing job!

Verbatim

Thanks for the update John.

Glad you've managed to reduce the number of debts. Very impressive. Hope it continues to go well for you.

coxj2901

I've just paid £150 off the Alliance & Leicester overdraft so this is down to £93 now

Rgds, John

coxj2901

I've just bitten the bullet and paid off the remaining £93 to Alliance & Leicester

It will probably leave us short for the month but with some careful planning I think we should be ok

Rgds, John

Crown

Nice one John, You really seem up for it this month!
At least its another one crossed of your list