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The Challenge - Debt free in two years!

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Comments

  • RumPunch_2
    RumPunch_2 Posts: 326 Forumite
    Happy 29th! You can look forward to debt free 30s!
  • Ceniza
    Ceniza Posts: 761 Forumite
    Thanks guys, that's the plan - to be debt free by 30, but it's not going to happen. I'd be lucky to be free by next December - but we can hope eh?
    Adam's diary - My Debt Diary - The Challenge | LBM May 2010 with £23,343.35 | £16,141.46 to go...
    Cleared: £7,369.16 / 30.85% | Current DFD: Oct2012 from Jan2014 | July repaid: £600/£800

    Goals: Aug-11 37% | Nov-11 60% | Feb-11 67% | May-12 76% | Aug-12 86% | Dec-12 debt free
  • Woowoo
    Woowoo Posts: 4,603 Forumite
    We will get there by December, so you will be debt free in your 30th year!
    LBM Aug 09: £18,650.47 - Current: £12,854.93 (£5946.79)

    Barclays: £2,928.34 Lloyds: £2,499.60
    MBNA: £3,788.99 Overdraft: £1,900.00 Mum: £1,738.00

    Surveys: £6.60/£40.00
  • Ceniza
    Ceniza Posts: 761 Forumite
    Well if I can be free in my 30th year, then that completes my original objective of being DF in two years :)
    Adam's diary - My Debt Diary - The Challenge | LBM May 2010 with £23,343.35 | £16,141.46 to go...
    Cleared: £7,369.16 / 30.85% | Current DFD: Oct2012 from Jan2014 | July repaid: £600/£800

    Goals: Aug-11 37% | Nov-11 60% | Feb-11 67% | May-12 76% | Aug-12 86% | Dec-12 debt free
  • jtr2803
    jtr2803 Posts: 3,232 Forumite
    Sorry I'm a bit late Adam but Happy Birthday :beer:!

    You may be debt free by 30, you just never know what is around the corner ;)

    Very happily married on 10th April 2013 :D
    Spero Meliora
    Trying to find a cure for Maldivesitis :rotfl:
  • Woowoo
    Woowoo Posts: 4,603 Forumite
    Hi Adam

    Hope you enjoyed your birthday yesterday, did you get up to much?
    LBM Aug 09: £18,650.47 - Current: £12,854.93 (£5946.79)

    Barclays: £2,928.34 Lloyds: £2,499.60
    MBNA: £3,788.99 Overdraft: £1,900.00 Mum: £1,738.00

    Surveys: £6.60/£40.00
  • Herewego
    Herewego Posts: 2,541 Forumite
    Opps sorry belated happy birthday,:beer: cheers to debt free 30's
    MARCH 2016 DEBT £25750/ £25035
    EST DFD JAN 2021 (that needs to change)
    NOW JAN 2019 (that still needs to change)
  • Ceniza
    Ceniza Posts: 761 Forumite
    jtr2803 wrote: »
    Sorry I'm a bit late Adam but Happy Birthday :beer:!

    You may be debt free by 30, you just never know what is around the corner ;)

    Thanks Jody :)
    Woowoo wrote: »
    Hi Adam

    Hope you enjoyed your birthday yesterday, did you get up to much?

    Thanks, it was a quiet one. Just cooked a meal and saw the family.
    Herewego wrote: »
    Opps sorry belated happy birthday,:beer: cheers to debt free 30's

    Thanks HWG :D
    Adam's diary - My Debt Diary - The Challenge | LBM May 2010 with £23,343.35 | £16,141.46 to go...
    Cleared: £7,369.16 / 30.85% | Current DFD: Oct2012 from Jan2014 | July repaid: £600/£800

    Goals: Aug-11 37% | Nov-11 60% | Feb-11 67% | May-12 76% | Aug-12 86% | Dec-12 debt free
  • Ceniza
    Ceniza Posts: 761 Forumite
    I've just worked out something quite shocking!

    My original £20,027.77 loan taken out in Jan09 (buy now pay later) has had 19 monthly payments of £383.87 totalling £7,293.53. My balance today is £17,956.91 meaning I've only cleared £2,070.86 from the total balance! How could I have been so stupid to have gotten the loan up to this amount over the years! It's crazy to think I've thrown away well over £5,000 in interest over the past year or two with all these debts I had! If there's one thing in life I'd want to teach any children I might have, it's how to take control of money! Hopefully I can teach my younger brothers and sisters about this!
    Adam's diary - My Debt Diary - The Challenge | LBM May 2010 with £23,343.35 | £16,141.46 to go...
    Cleared: £7,369.16 / 30.85% | Current DFD: Oct2012 from Jan2014 | July repaid: £600/£800

    Goals: Aug-11 37% | Nov-11 60% | Feb-11 67% | May-12 76% | Aug-12 86% | Dec-12 debt free
  • Woowoo
    Woowoo Posts: 4,603 Forumite
    The amount of money the banks make in interest off us really is shocking.

    I know it must make you feel sick Adam, but your doing everything possible to clear it now.

    Just remember how empowering it will feel to be debt free and these companies will have no hold over us.

    At least if you can teach your younger brothers and sisters about debt and how it takes over your life, something good will have come from it all.
    LBM Aug 09: £18,650.47 - Current: £12,854.93 (£5946.79)

    Barclays: £2,928.34 Lloyds: £2,499.60
    MBNA: £3,788.99 Overdraft: £1,900.00 Mum: £1,738.00

    Surveys: £6.60/£40.00
This discussion has been closed.
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