bit of good old MSE inspiration..

determinedtodothis Posts: 593 Forumite
edited 8 June 2010 at 8:01PM in Debt-free wannabe
Ok I need a morale booster! This might help others if you want to share:

What was your lowest point?
What has been your highest point so far?
Your one moneysaving tip:

[threadbanner] box [/threadbanner]
TOTAL: (1.9.2008) £[strike]20,971.00[/strike] (02.12.10)£11,006.07
£9,262.93 Paid off (Since LBM) :D
Debt Free Date [strike]2021[/strike] 2015
Savings £100 Dec NSD 11/20, Sealed pot challenger 1043


  • Ok here's mine:

    Lowest: 23rd dec getting a court sum for repossession on my flat due to arrears on a secured loan
    Highest: this company cancelling court action due to stuff I found on this site and a year later clearing the loan!
    Tip: 1 lightbulb per person - saves a fortune!

    And of course get on here as much as poss!
    TOTAL: (1.9.2008) £[strike]20,971.00[/strike] (02.12.10)£11,006.07
    £9,262.93 Paid off (Since LBM) :D
    Debt Free Date [strike]2021[/strike] 2015
    Savings £100 Dec NSD 11/20, Sealed pot challenger 1043
  • Numpty_Monkey
    Numpty_Monkey Posts: 14,196
    Combo Breaker First Post
    Low point, probably getting made redundant, after setting up my DMP

    High points, - lots, including getting the quote in my sig(yes someone did post that when I got made redundant)
    meeting and making some newand great friends, learning lots of tips, knowing I have support and help on here

    Top Tip - ask for help , use all of MSE, or maybe spreadsheets/budgeting:cool:
    Numpty,Not sure why but I'm crying :o . Of all the peeps on this board you're the kindest & most supportive of all & I'm :mad: & :( for you all at the same time . Wish I was there to give you a big :grouphug: & emergency hobnobs
    DFD 5/1/16
  • t4mof
    t4mof Posts: 243
    First Anniversary Combo Breaker First Post
    What was your lowest point?

    2nd April 2007 - less than 10 days after pay day and not being able to withdraw any cash because the overdraft was already at its limit. I was looking back at my old bank accounts a few weeks ago and can't believe how far I've come in 3 years. Surprisingly that wasn't even my proper LBM - just very scary.

    What has been your highest point so far?

    Any time I clear any debt down to zero. It's a massive boost and keeps me spurred on for the next one. As you can see from my sig, I have cleared 4 debts this year. Unfortunately the next one won't be clear until Feb 11 when Virgin will be gone but Feb 11 gets closer every day.

    Your one moneysaving tip: Check your online banking every day and keep on top of every penny spent.
    CC Debt at LBM Nov 08 - £25000+ DFD Dec 2012
    Second DFD May 2021
    Starting my MFW journey: Opening Balance: £138,000; July 2019: £135107.33; July 2023 £119450.87
    2024 MFW #45
  • Thats a good tip t4mof! I use to think I new my balance and I'd always end up short because I guestimated a couple of quid more.

    I think its def the feeling of relief/joy/ner-ner ner-ner when you ring up, pay a balance and ask the company that has hounded you for so long their services are no longer required!

    Keep up the good work!
    TOTAL: (1.9.2008) £[strike]20,971.00[/strike] (02.12.10)£11,006.07
    £9,262.93 Paid off (Since LBM) :D
    Debt Free Date [strike]2021[/strike] 2015
    Savings £100 Dec NSD 11/20, Sealed pot challenger 1043
  • A good thread! I like it!

    Low point: Apart from my actual LBM, I would say being made redundant just after I had stopped my finances getting any worse (I think it takes a while after you have your LBM to stop your debt increasing, eg paying charges on charges...) and then being out of work for 6 months, which was a bit hairy financially, to say the least. A good lesson - how important an emergency fund is - learned thoroughly there!

    High point: Every month that I see my debt reducing is a new high point! Other notable high points: getting a new job, paying off the arrears from when I was out of work, realising how unimportant 'important' possessions were when I had to sell them to pay the mortgage in the last few months I was out of work, being pleased that I had managed to resist the lure of adding to the credit cards, the epiphany that the less 'stuff' I own, the happier I feel.

    Moneysaving tip: stop buying food and drinks outside your home - get a water bottle, a travel coffee mug and a lunchbox and USE THEM! Quite staggering to realise how much day to day spending goes on buying food and drink leaving you with nothing to show for it...:j
  • Krisp_3
    Krisp_3 Posts: 234 Forumite
    What was your lowest point?
    I had two. Being made redundant in the middle of some serious house renovation works - first home with Oh and it all had to stop. Then realising how mcuh debt we'd got into.

    What has been your highest point so far?
    Paying off £30k of debt in one year. That was a high!

    Your one moneysaving tip:
    Don't buy breakfast, lunch and drinks during your working week. Easily the quickest way to fritter away your hard earned dosh, for no reason whatsover. And think of how much less packaging gets wasted too!
    :DAiming to be debt-free June 2011 at the latest!! :D
    :jPaid off £6,143 - Egg loan cleared 26 May 2010:j
    :p Save on lunches in June Challenger # 5 - £0 aim/£0 spent!! :p
    :) 8/15 NSDs June 2010 :)
    "I wish dear Karl could have spent more time acquiring capital than merely writing about it." - Jenny Marx
  • Two9A
    Two9A Posts: 274 Forumite
    Mm, let's see.

    Low point: Ramming up against the end of my overdraft at the petrol station, and having to walk home to get the other card so I could pay :D About halfway through the walk was my LBM, if I recall.

    High point: Clearing the first credit card; granted, it was only cleared thanks to a balance transfer, but a CC snipped in two is a good sight.

    Tip: As t4mof said, keep a very keen eye on your online banking, and keep a spreadsheet of every account-based transaction. Though with my 5 current accounts and 7 debts, it gets a bit unwieldy at times :rotfl:
    Debts (26.3% remaining) - CC/BARC: [strike]2058[/strike] 100.00 @0%; CC/MBNA: [strike]1877.75[/strike] 0.00; Loan/SLC: [strike]10000[/strike] 7901.84 @1.5%; Loan/Per: [strike]1500[/strike] 0.00; Loan/HX: [strike]15000[/strike] 0.00
    Mortgages (94.7% remaining) -
    NW: [strike]92516.94[/strike] 87565.40 @3.19%; HBOS: [strike]65599.57[/strike] 59106.45 @4%, [strike]69251.57[/strike] 68589.97 @3.49%
    Total amount of fail: Dangerous (223263.66)
  • dancingfairy
    dancingfairy Posts: 9,069 Forumite
    I always like to see inspiration. Cheers you up on a bad day.
    Making my money go further with MSE :j
    How much can I save in 2012 challenge
    75/1200 :eek:
  • savingwannabe
    savingwannabe Posts: 16,610
    First Anniversary First Post
    Hi lowest point, realising that i am pretty ill and i might lose my income one day and having to go down to part time due to ill health.

    Highest point, meeting fab people on this site. Stresses are shared and we have fun despite our worries. I am learning (v slowly) how to save more each month, despite a trememdous cut in my salarly i (apart from the odd occasion) am learning to save more as I am frittering away less. Can you believe i used to waste over £80 a week on taxi travel??? I only live a 20 minute walk from where I work. (STUPID).

    Most useful tip, making lunches, try to only leave the house with £20 spending money and promise to try to only spend that. I learned this month not to walk around with my debit card too as i waste money on nonsense!!!
    Aiming for a minimal spend 2022
  • ANewEra
    ANewEra Posts: 106
    First Post First Anniversary Combo Breaker
    Lowest point Sometime in late 2008 when I'd seperated from the ex and finally had the courage to go through all the debts left in my name, and realising it was about £20k. Calling the CCCS and them saying it would take 18 years or so to pay off, I just sat there crying thinking my little boy would not have anything throughout his childhood. (CCCS advised bankruptcy and I went down that route in Dec 08)

    High point
    A year and a half on from my BK petition, I now manage my money well enough to budget for everything and even have a bit in savings.
    The feeling of being in control of your money is much better than the feeling of buying something new that you probably don't 'need' anyway!

    Best tip Working out your yearly spends ie insurance, tax, mot etc, and each month putting aside 1/12 of them, it's such a brilliant feeling to be able to pay for the car tax with cash and not panic and put it on a CC. (Not that I have any of those anymore!)
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