Paid off £30K, about £6k more to go!

chevalier

well done for your achievements so far. I also have no savings really, and it also worries me too. I am debt free though, and it feels great. I still find it difficult to keep to a budget though....:o

ampersand

muffin74 wrote: »

Here is a bit of a PS. I know that experts like Martin advise that it is a good idea to keep a credit card just in case or to boost your credit rating and that is probably good advice for the average person but I knew I couldn't trust myself. I kept looking at holiday brochures and dreaming of escaping the British winter by jetting off to India or Africa for a week or two (I have never done it but I keep fantasising about it). I was also tempted to buy a Dyson as my old Electrolux vacuum cleaner doesn't pick up all the dust and cat hairs from my carpet and I am dreaming of a replacement. Not to worry, I will buy a Dyson in the next few months... after saving up for it first!

I am NEVER buying anything on a credit card again as long as I live.

Other temptations: my hair is looking extremely mousy, I have not had any highlights since the summer. I had my roots done but it has not done the trick. I would love to pop into the hairdresser's for a full head of highlights but as I can't afford it, I will have to be mousy for a month! I can be a blonde bombshell next year when I am debt free!

I look forward to that day, somewhere in the not too distant future. The day when I am highlighted to the max (blonder than ever), doing yoga on a tropical beach and chilling out safe in the knowledge that I have no debt and am stashing at least 10% of my salary in a Cash ISA!! Bring it on!!

##########
Hello M -
just came across your Thread and now-pinky bit leapt out...it's very worthwhile checking out local Colleges for Hair and Beauty Salon prices.
I've gone for several years now and the students are well-supervised with prices way below anything you'll find elsewhere. For me[long hair, would be grey if ever I saw it]full colour and highlights, if I choose, for £15. They don't rush, bring hot drinks as you wish, and have late nights, too. Recommended - ditto the training Restaurant. It's a real feelgood thing, for them and for you.

muffin74

Thanks for the tip re. hairdressing, I will look into that. I love getting highlights but I don't like the cost so it sounds like a great idea!!!

Phoenix27_2

I have just read your whole diary with avid interest and admiration.

I feel like we are similar in some ways, I am 27 and feel like my life is on hold whilst I am in debt. I would love to go into the bank and say to the CC company what you did.

I have no one else to blame but myself for living beyond my means but I also feel that my problems started when my bank sent me a CC just after my 18th Bday with a limit of £1500, that I didnt request. and only a part time income coming in. I realise that I should have sent the card back but try telling that to a naive 18 yr old.

Anyway I am rambling, congratulations you are nearly there, you give me hope!

muffin74

Hi Phoenix

I know how you feel. I knew nothing about money when I was young - I didn't have one lesson on it at school or get any advice from my parents - so when I went out into the world as an 18 year old I didn't know what to do and I made so many mistakes!!! I hope I have learned from them and hope that the second half of my life will be a lot happier and more financially healthy.

It took me most of my twenties to get into debt and it has taken me nearly 6 years to get this far and I still have between 6 months and a year to go. It isn't easy to pay off such a large amount but it can be done. I am sure you will get there too. You just have to be determined and keep plugging away. Good luck, I hope it goes well.

pinkarsenalprincess

Just had a read through your diary....didn't want to read and run so...
...wishing you all the best on the rest of your journey and here's to a debt free future :T

muffin74

More money thoughts...

I was listening to LBC today and they were talking about debt and unemployment. There were people phoning in to share their stories. I was fascinated to hear what people had to say and it brought up mixed emotions. Part of me felt sad because it was hard to hear about other people's suffering but part of me felt comforted by the fact that I am not alone and that others understand what I have been through because they are going through it too.

I think about money a lot and I hope that all these experiences and challenges have changed me for the better and taught me something. I have definitely changed in my attitude to shopping and spending. I used to be a spendthrift but now I love spending as little as possible and getting freebies and bargains. My latest work outfit is a black trouser suit I got in the M&S sale (total = £24) and a black bag I got from Peacocks for £6 (which I only got because the handle broke on my old black handbag!). When people have complimented me on my bag I was proud to tell them I got it from Peacocks! Years ago I would have been mortified but now I am a cheapskate and proud of it!!

One of my Facebook friends is a girl I know who has admitted having credit card problems in the past and is still living with her parents at 30 because she can't afford to rent or flatshare. However, on Facebook she puts up photos of her new Louboutins (designer shoes that cost a week's wages at least) and is always going off on holidays to Turkey and Ibiza. She is always moaning that she hates her job and doesn't want to go to work etc. Part of me cringes because it reminds me of when I used to waste my money on stuff I couldn't afford but mostly I feel really sorry for her because she will never get out of her situation (living with her parents and doing a job she hates) if she keeps blowing her money on £500 shoes and fancy holidays. I don't know her well enough to give her financial advice but I wish I could help wean her off those expensive shoes!! Maybe I should take her to Peacocks...

Choc-addict

Hi Muffin,

Just read though your diary and it's a very inspirational read. Congratulations and well done on clearing so much debt - amazing!

Interesting thought on reading books about money, may give that a try as never thought of that before.

Have subscribed and look forward to more updates

muffin74

Thanks Choc!!!

muffin74

I have been off work with the past couple of days with a bad cold so I have been at home doing a lot of thinking. I have also been doing some cooking, making some warming meals which will help me get over the coughs, sneezes etc! I made a couple of lovely Nigel Slater veggie meals and I really enjoyed getting the herbs and spices out and cooking up something tasty and healthy.

My cooking reminded me of one of the more positive things that came out of me changing my ways from spendthrift to cheapskate - being inventive in the kitchen on a budget. When I stopped spending and started repaying my debts in earnest about 5 or 6 years ago, half of my net salary was going on debt repayment. By the time rent, taxes, utilities, travelcard and insurance had been deducted from that remaining half of my take home pay, that left me with only a couple of hundred pounds a month for food, drink, clothes and everything else! I was on a mega tight budget but I was determined to still eat decent meals.

It was at that time that I first made friends with my local Lidl and the "value" ranges in the other supermarkets. More importantly, I discovered the joys of local markets, particularly ethnic markets.
I discovered a place called Queens Market in Upton Park, a rather run down area famous for being home to West Ham football club and a large immigrant community. In my spendthrift days I would have turned my nose up at rummaging for bargains in a scruffy market but I was on a mission to pay off my debts so I swallowed my pride, grabbed a big shopping bag and got stuck in.

I remember buying a small notebook there which I used to record my daily expenses every day (and total them every week and month, analysing each category to see how much I was spending and how much I could save). That was the start of a great habit which I kept up for the first crucial 2 years of paying off my debts until they got a bit more manageable.

I also remember my first shopping trip there. I was amazed that I could get a box of mangos for £2 when I was used to seeing mangos selling for as much as £2 each in the supermarket. I grabbed huge bunches of fresh coriander for a fraction of the supermarket price, sweet potatoes, butternut squash, chillis, peppers and other veggies. Loaded down with colourful, cut price veg, herbs and that all important bargain box of mangos I headed home.

I also felt like I had been on a trip to the other side of the world for the price of a tube ticket (which was nice because on my budget I wasn't going to be having any long haul trips for quite some time!!)

That weekend, I made soups, smoothies and stews which were healthy and delicious but had cost pennies per portion. I froze several portions to feed me over that week. While I was whizzing the meals up in the kitchen, I started to believe that I really could get out from under that mountain of debt and still eat well and enjoy myself in the process. It really helped make that difficult time more bearable and even a little fun.

If you have an ethnic market or shop near you (or even just a local street market) and you haven't tried it out, give it a try. Not only will it be much more colourful and fun than a trip to a soulless supermarket but it will be a lot cheaper too!

Has anyone else got any favourite places to food shop/ meals to cook??