Paid off £30K, about £6k more to go!

cococoladebt

muffin74 wrote: »

Ok, big news. I HAVE PAID OFF MY LAST EVER PERSONAL LOAN!!! I made my last payment at the end of March. It was due to be paid off in September 2011 but due to overpayments, I paid it off early.

I have an overdraft and am about £400 overdrawn but apart from that am totally debt free. No credit cards or loans at all. That is big news as I have had some form of loan or credit card since I was 20, 16 years ago.

It feels good. I am now going to spend the next few months putting the £400 I was using to pay off my loan to good use. I am going to split it between paying off my overdraft (limit £900) and saving up. When the overdraft is totally paid off, I am going to put £400 a month towards savings. This is amazing, I have been working towards this for years!!

Once the overdraft is paid off I am going to save up as much as possible. At the moment I have only £300 in savings which is not that great for a 36 year old woman who has been working all her life. I am aiming to save up six months net salary.

I feel good that I am (almost) a debt free woman and am on my way to being a savvy saver!!!

Well done!!! Now get yourself a new credit card and splash the cash !!! Just kidding. Enjoy it!