Confessions of a 29 year old who cleared £26,000 of debt thanks to the MSE community!

OnwardAndUpward81

On the 19th July, 2007, I confessed to the MSE community how much debt I was in. It was the best thing I ever did ! I had told no one and now I'm quite open about it. Three years on and I've got 2 grand owing on a credit card. It hasn't been an easy ride but I just wanted to say a massive thank you to Martin and members of the MSE community.

If anyone wants support or advice please ask me. I am willing to help.

What I've learnt from this experience, is that you can find ways of making extra money (ebay, car boots, market research, etc), cutting back (I haven't been to the hairdressers since 2008 and my hair looks the best it has ever been) or go on long haul holidays (travel zoo, skyscanner, etc), go to fancy resturants (toptable, last minute) and live life to it's fullest whilst budgeting. You just have to be determined, ask for help and when spending money, always ask yourself, do you really need it ????

ms_london

Hi Miss Debt

Congratulations, you have done really well! What are your plans when you are debt free?

It sounds like we have similiar stories, I am 30, and owed £19,000 but finally paid this off in 2005 after being a devoted follower of MSE and living an MSE life!

Just wish I had found this site earlier, but at least I found it.

Well done xx

OnwardAndUpward81

Thank you Ms_London. Do you know what's really funny? I have no idea. I've given my self the challenge of saving 12 grand by the end of December 2011, don't know I'll use it for though. I figured if I can shift debt in that amount of time with a lot of willpower I can save that amount, especially as I won't have a £500 loan repayment coming out of my wages every month, or credit card repayments. I feel liberated and emotional.

Well done to you too Ms London. What have you been spending your money on since being debt free?

brokemedic

Congratulations... that's quite a sum to have paid off. How did you manage to do it? What did you do that led to the most money being saved.. if that makes sense lol??

ms_london.. I used to read your thread from a couple of years back.. before you went travelling I think. It was quite inspiring from what I can recall. Thank-you.

beanielou

Great news for you.

LexieLou

Hi Miss Debt,

I am so eager to know how you cleared your debt. Please tell me all your tips.

Thanks.

LL xx

ms_london

Miss_Debt wrote: »

Thank you Ms_London. Do you know what's really funny? I have no idea. I've given my self the challenge of saving 12 grand by the end of December 2011, don't know I'll use it for though. I figured if I can shift debt in that amount of time with a lot of willpower I can save that amount, especially as I won't have a £500 loan repayment coming out of my wages every month, or credit card repayments. I feel liberated and emotional.

Well done to you too Ms London. What have you been spending your money on since being debt free?

I would certainly recommend saving at the same rate you have been paying off your debt at - I managed to save £10,000 in 10 months (I had 2 jobs, so it wasn't an easy task like people think!) and then went travelling. Was away for 2 years, working as well, but come back to the UK at the wrong time and run up a further £6,000 as a result of having no job for a while, which is just been paid off. Phew! Now I want to save for a deposit.

I was originally debt free in Oct 2005, so it has been a while now, but it is also easy to pick up old habits!

I bet you feel rich don't you? Enjoy the feeling, and certainly live a little, don't be too hard on yourself! xx

ms_london

brokemedic wrote: »

Congratulations... that's quite a sum to have paid off. How did you manage to do it? What did you do that led to the most money being saved.. if that makes sense lol??

ms_london.. I used to read your thread from a couple of years back.. before you went travelling I think. It was quite inspiring from what I can recall. Thank-you.

Hiya. How are you?

That was a while ago, I've been back from my travels for 2 years already (:eek:) and was away for 2 - scary at how quick the time goes.

How has life been treating you? Ok I hope!

Not sure how I did it looking back! xx

ms_london

beanielou wrote: »

Great news for you.

Helllooooooo - how are you? xx

INT1

A lot of it is just common sense really, It really scares me some of the posts on here how people operate their financial living.

Well done for clearing your debt.

ms_london

INT1 wrote: »

A lot of it is just common sense really, It really scares me some of the posts on here how people operate their financial living.

Well done for clearing your debt.

I guess that is why we come here, for financial guidance, and for support. Yes it is worrying sometimes, but all we can do is help and not judge.

xx