The 18k Challenge

DontDoDebtKids

becsxxx wrote: »

Still not long though! I can't believe how well you've done!!!!

Just think how amazing it's going to feel having all that debt finally gone for good - what on earth are you going to do with all you spare cash?!?!? :beer:

Hello!

A week to go and I'm getting quite excited now.

I will let you know what it feels like, but I will probably be quite happy for a few days while it sinks in.

What to do with the spare cash is easy (now I know how to budget and not to waste it):

1) Set up an emergency fund - somewhere between 3 and 12 months living expenses - I think I'll put in a lump sum on Friday and then save a little each month to build it up to 12 months' worth.

2) Invest the rest in low(ish) risk stuff like High Yield Shares and inflation linked bonds.

DontDoDebtKids

OK, getting exciting now.

3 days to go....

DontDoDebtKids

Tomorrow! Wow!

becsxxx

:T :T Wow DDDK! :T :T

That's amazing - fingers crossed it all goes smoothly for you and you can really celebrate being debt free!

I am off on holiday tomorrow - desperately needed after a dreadful 6 months! Then I start my new job (with new increased salary!) when I get back.

Also, as you know, my flat didn't sell well, so I've decided to stay put and rent my second room about for £400 a month while I sort myself out financially!

All generally looking up then! I promise I will start posting regular updates again when I'm back from holiday - although I dread to see how badly I'm doing at the moment - think my figures will have gone up

DDDK - make sure you stop in and tell us how being debt free is going and see how we're getting on!

All the best

Becsx

leon103

How is everyone doing???

becsxxx

Leon - thanks for the gentle nudge - about time I got cracking and thinking about this again! DDDK has left the ranks of debtors but hope will pop in some time to tell us how it feels to be debt-free. Mirtos -are you still there????!?

As for me, qualified in September so on whacking new salary. Just starting to think about getting my debt under control again, as had a few really dreadful months before the pay rise!

Summary:

Debt

Natwest Overdraft (£500 @ 0%) = £489.48
Cahoot Car Loan (5.8%) = £2,078.29
Credit Card = £600.00
Student Loan = £8,100.00
Current Accounts = £1,800.00


TOTAL = -£13,067.77
TOTAL PAID OFF SINCE START OF CHALLENGE = £5,468.04

leon103

Good to hear from you, I am still reading. Good luck with this. we are behind you