Stop being a Wimp!... DMP Journey

Moneywhizz

So pleased for you. What an achievement, and so much to look forward to now. That was surely the last time you will be desperate for payday. Now you will have money in savings and the stress of not being able to pay for something is no more. Looking forward to reading your plans for the future.

[Deleted User]

I hope all is well with you this lovely Spring morning, Ellie. It must feel very sweet waking up each day and knowing you are totally in control of your own money. I'm so happy for you:j:beer:


I totally 'get' how you are with budgeting:T. I don't 'do' spreadsheets but am an avid notebook and pen gal myself. I used to be the same even when I was more in the debt mire than I am now (pre DMP days I mean) but that was mainly to keep track of where every penny was at any given time as the slightest lapse or miscalculating a payment date would result in extra fees which I just couldn't afford or mean I had no 'real' money (cash) to buy the most basic groceries:o. I always had to budget strictly but it was to keep the wolf from the door. Reading those notebooks now is so scary. I still get a horrible feeling in the pit of my stomach when I remember how desperate things were. I intend to keep them and when I'm happily debt free I can have a quick reminder of what would happen if I should fall off the wagon again.


My approach is different now as not only am I managing to live on my budget but for the first time in my adult life I am managing to save a little. Obviously it isn't much but it gives me such a boost to know that not every penny is going merely to survive day to day. Once upon a time I used to sell belongings on eBay or at car boot sales just to afford to cover my debts or pay for the groceries. All my good stuff has long gone and I never really 'saw' any of the money:(. Now I can sell unwanted items and put the proceeds into my little nest egg (towards a 'new to me' car when my ancient one finally goes to the scrapyard in the sky;)). That feels so good.


I know people say don't save when you have debts but on a DMP where I don't have any interest charges being added and am just paying off the balance I know exactly where I am at any given time. Yes, I'd love to have all the debts gone asap but it's 'only' another 3 years at the most and they will be:j. If I can negotiate any final settlements with creditors at a good discount a little further down the line I'll pay off any that I can afford. I'd be very worried about using my emergency car savings though as, living in a very rural location with only one bus a week (to the local market) a car is an absolute essential. The only means I would have to pay for one is with the money I've actually got IYKWIM.



I still check my online accounts daily but without any panic nowdays:T. I agree that budgeting becomes a way of life. I love doing it and can't ever see me not doing it. I only wish I'd done it before I ever got into debt when I had a decent job and money that I could have saved had I wanted to:o. I haven't a clue where all my money went. A spending diary in my younger days would have been brilliant and my life would have turned out a lot differently I'm sure.


Sorry, Ellie, I've been rambling on and on:o. I really only popped it to wish you well

Ellieseleven

Moneywhizz wrote: »

So pleased for you. What an achievement, and so much to look forward to now. That was surely the last time you will be desperate for payday. Now you will have money in savings and the stress of not being able to pay for something is no more. Looking forward to reading your plans for the future.

Hello Moneywhizz,

Yes, hopefully the last time I have to stretch my wages so far. March has been a sharp reminder of how difficult things can be.

It will be a change to look at savings balances instead of debt balances:)

Ellie x

Ellieseleven

carbootcrazy wrote: »

I totally 'get' how you are with budgeting:T. I don't 'do' spreadsheets but am an avid notebook and pen gal myself. I used to be the same even when I was more in the debt mire than I am now (pre DMP days I mean) but that was mainly to keep track of where every penny was at any given time as the slightest lapse or miscalculating a payment date would result in extra fees which I just couldn't afford or mean I had no 'real' money (cash) to buy the most basic groceries:o. I always had to budget strictly but it was to keep the wolf from the door. Reading those notebooks now is so scary. I still get a horrible feeling in the pit of my stomach when I remember how desperate things were. I intend to keep them and when I'm happily debt free I can have a quick reminder of what would happen if I should fall off the wagon again.

Hello CBC,

This made me smile, I have two big notebooks going back to 1996! Looking back I can see how things slowly progressed with us getting deeper and deeper in debt. I used them for the same reason as you, to see where I could rob Peter to pay Paul and his whole family. I've kept those notebooks too and the other day I went back to just before our DMP and totted up how much we were paying out on CC's - it came to over £1300 per month plus a car loan of £300 plus a bank loan of £150:eek: No wonder we struggled! I had about £300 left out of my salary every month to pay the rest of the bills, quite a scary thought now with hindsight:eek:

I know people say don't save when you have debts but on a DMP where I don't have any interest charges being added and am just paying off the balance I know exactly where I am at any given time. Yes, I'd love to have all the debts gone asap but it's 'only' another 3 years at the most and they will be


I relate to this too, I always left a little wiggle room in my budget. I knew I could have tightened my belt that bit further but I think it would have made things even harder without the odd treat here and there or that little bit in a savings account. Your time will pass quickly, I don't know where 6 1/2 years have gone and finishing my DMP has coincided with the defaults dropping off my credit file so the timing works quite nicely.

Good to hear from you and keep chipping away at your debt:)

Take care
Ellie x

parsniphead

I'm another who has just read your diary.

Congratulations. You're proof that hard work and determination will win out.

Hopefully many of us will be following in your footsteps soon.

Ellieseleven

parsniphead wrote: »

I'm another who has just read your diary.

Congratulations. You're proof that hard work and determination will win out.

Hopefully many of us will be following in your footsteps soon.

You're right parsniphead, it is hard work and determination that will help us all become debt-free.

I wish you well

Ellie x

Ellieseleven

Just tried to logon to SC - now get a message "your plan has ended":rotfl:

motivated

Ellieseleven wrote: »

Just tried to logon to SC - now get a message "your plan has ended":rotfl:

:T

One day I will be writing this too (one day)

Ellieseleven

motivated wrote: »

:T

One day I will be writing this too (one day)

You most definitely will! Keep plugging away and that day will come sooner than you think;)


Ellie x

[Deleted User]

Debt Free 1st March 2017 in your signature looks sooooo good, Ellie:T:j


I hope you're getting used to your debt free life and able to enjoy every minute of it:beer: