The amazing shrinking debt!

dreamdreamer

Ordered the $US for our trip in the the travelex flash sale this morning. They're being delivered tomorrow. And just inquired as to whether I am covered by OH's travel insurance, waiting for a reply on that one. I think I am, the policy uses the term "domestic partner" - I've just asked to clarify what they mean by that ie. we don't need to be married.

rubywhatashmoo

How good were the currency sales? I'm hoping to go to the US next year and if they're worth scheduling my currency buying around I'll try and do that!

dreamdreamer

Not great if I'm honest, but it did put Travelex at the top of the pile exchange rate wise, and for the security of a big company that accepted debit card (usually the top rate ones are slightly dubious looking outfits that only accept bank transfer so offer no protection) I was glad to use the sale. Another tip from MSE, I wonder how I functioned without it!

dreamdreamer

A week until my penultimate payday. Between that and the holiday I am wishing my life away until August 25th!!

dreamdreamer

I have never been so glad to see payday!! I wound up with £22 left in my account last month which was very good going as I had £42 left with 2 weeks to go! I barely spent anything the last 2 weeks as I worked pretty much every day, and OH was away. Bought some stuff for work lunches and a cheeky fish & chips one night, that was about it. The £60 from the tickets ended up being mostly spent on dental work, oh the joy!

Anyway pay has gone in, all big DDs (mortgage, CT, loan) have gone out. Worked out my budget for the month and overpaid the loan by £850 (in addition to my normal £295 payment).

So, counting in the interest, this brings my debt total to [STRIKE]£15800[/STRIKE]....

:j:D:j £620 :j:D:j

This means it's 96% paid, and if you think I've overexcited this month just wait until next pay day! :rotfl:

dreamdreamer

Been playing around with figures, next month my take home pay will be a whopping £2250 thanks to overtime, I'll have £1250 of bills and my debt will be at £330 which I'll obviously pay off and be debt free, with £670 spare (spending/food money is covered by OH's payment into my account). This will be our spending money for the holiday (we've got a bit of currency but I owe OH for half of that and we'll need more whilst there). Anything left over, if there is any, can start off my ISA that I haven't got around to opening yet!

Lozzy88

I have been reading your diary but never posted on it before i just wanted to say a massive

:T Well Done! :T

You sound like (well read like) you have worked so hard i hope you and OH really enjoy your holiday together, and knowing you can enjoy it guilt free must feel amazing!

dreamdreamer

Thanks lozzy, it's been a real slog TBH, it's so hard when you could meet minimums (debt free in 2049 or something!) and have an extra £500ish a month not to just go "oh sod it, I'll pay the minimums and enjoy myself while we're young, have no kids, have the disposable income, the mortgage rates are low, blah blah blah" - so many reasons to treat yourself and enjoy life! I've had to really focus on the fact that if I get this debt paid off, I can enjoy that life that WITHOUT the nagging feeling that I'm sinking under debt. It's especially hard when everyone around you seems to go away 3 times a year, has flashy cars and enjoys that life you want, but I've learnt to look a bit deeper and realise that those people are probably accruing debt just as I did up until 2009, and that one day they too will have to go through all this when they realise it can't go on.

Much as these few years have been the hardest of my life, financially at least, they've also been the happiest, having met my OH, moved into our house etc, and also having got rid of the constant worry about money. This has helped prove to me that actually, the flash cars and the flat screen TVs and the expensive nights out don't actually constitute happiness at all.

Happiness for me now is sitting in the garden in the sun with OH enjoying a home-made picnic and a nice cold cider!

dreamdreamer

Well, I've made it. As of the 3rd September 2011 I am DEBT FREE. :j:D:j:D:j:D:j:D

As previously mentioned we celebrated by sodding off to Chicago, made the final payment to the loan the day we got back. We had such a fabulous time, it was so nice to know I had plenty of spending money that was MINE, not the banks, we even splurged on a $150 steak dinner with VERY nice wine etc, and I didn't feel even a teeny bit guilty! I doubt another meal will ever taste as nice again!:rotfl:

Now I'm just debating what to save up for, there's a few things I've held off on, but the draw of the next holiday may be too much for me! I've got my travelling bug back.

Thanks to all who have read and posted on here. The people on these boards have been an absolute inspiration to me. I would have given up a long time ago without you all.

Dreamer x

rubywhatashmoo

Awww I'm so happy for you hun!! You've done so well to get it all paid off (so quickly as well!) Glad you had such a good holiday, you deserve it after all your debt-busting effort!!