The Debt Free Roll Of Honour

dfbefore30

Can't believe I finally get to post here :j

The date of your lightbulb moment
The light was flickering for a few years, but I think crunch time came in August 2012 when my housemate announced that she was going travelling, meaning that I would need to find the money to live on my own. Within a month. The lightbulb came on with a ping then!

Debts at their highest
I'm not sure of the exact figure, but I think it was around £14k

Debt-Free Date
29th August 2014

Your one pearl of wisdom.
Don't make promises to yourself that you know you won't keep. Instead try to find alternative solutions. For example, I knew that I would never make a packed lunch for work. It's enough to get me out of the house every morning. So I found a way around it. I work in an office with good kitchen facilities so I would go to the tesco near work on a monday and buy food to keep in my desk for the week. Yes people would look at me weirdly because I had a loaf of bread in my desk, but I saved a fortune on lunches.

I also opened a second interest free overdraft with Nationwide in order to pay off my first overdraft. I looked at it in the same way as a 0% balance transfer on a credit card and was careful not to run up two overdrafts! I realise that this won't work for everyone, but it worked for me.

Links to the MSE guides that helped you
I think I read all of them

Which forum threads helped you
The debt free before xmas thread (although I never actually joined). I also read every new members SOA and the advice given to them, particularly anything by Bedsit Bob (Thanks Bob! :T)

And if you had a debt diary on DFW, a link to it

I only kept my diary for about 3 days. But I enjoyed reading everyone elses. It's nice to know that you're not alone.

Keep at it everyone. You'll get there. Believe me, if I can do it then so can you!

Former_MSE_Andrea

Well done from everyone at MSE Towers!

Have you done it before you're 30?

dfbefore30

Thank you for my badge!

And I've just turned 29, so yes I did! Next stop, house deposit!:j

ailz95

I'd like to join. I paid off our DMP today (10.9.14) - one good thing about turning 60. I had a small pension pot that gave me just enough in a lump sum to pay Payplan and pay off my creditors in full.

Couldn't have done it without MSE. Thanks all.

nearlyrich

Well done ailz

speakingofart

I've been waiting a long time to make this post, but as of this morning I am DEBT FREE!

a. The date of your lightbulb moment

I had several - I always knew that I wasted money and had a giant student overdraft which I needed to deal with, but the moment I decided I had to tackle it was Christmas 2013.

b. Debts at their highest

£1752.33 on the student overdraft, but I was also up to £200 in my current overdraft consistently every month, and also owed a fee to my university which I kept putting off because I didn't have the money. That is now paid, this will be my third overdraft free month in my current account and my student account is now in credit.

c. Debt-Free Date

16th September, 2014.

d. Your one pearl of wisdom.

YNAB. Seriously, just do it. Best £30 I EVER spent.

e. Links to the MSE guides that helped you

Car insurance guide, but mainly the lovely supportive community here.

f. Which forum threads helped you

NSK/ NST challenges. Not only were they a great way to focus, they were also full of wonderful people who kept me motivated to check in and helped out when I felt like I'd never do it.


g. And if you had a debt diary on the Debt-Free Wannabe board (DFW), a link to it

https://forums.moneysavingexpert.com/discussion/4579375

Former_MSE_Andrea

dfbefore30 wrote: »

Thank you for my badge!

And I've just turned 29, so yes I did! Next stop, house deposit!:j

Woohooo

Mothermercury30

Lightbulb moment: April 2011


Debts at their highest: £23,500


Debt free Date: DMP complete in September 2014


Your one pearl of wisdom: When it's sorted (And, rest assured, you will get there), LEARN. REFLECT. TEACH. Don't borrow unless you absolutely have to. Watch where your pennies go, and for heaven's sake, teach your children about debt. Acknowledge your past, and keep an eye on the future.

amber03

Well said Mothermercury.x

gollysmissus

Wow I can actually post on here!!!!!!!!!!!!

LBM - Jan 2005 (DH made redundant Sept 2004 no notice no money!!!)
Although not technically in debt we had no savings, a mortgage, CC and didn't really know what we spent money on.

Debts at highest - Apr 2005 - £130,000 (DH got job 300mls away remortgaged house to buy small flat for him to live in during week. So 2 properties to run as well as petrol food etc.

Debt free date - 19 Sept 2014:j

Pearl of wisdom - plan plan plan and read as much of MSE as u can

Forum threads that helped - too many to list, but any that dealt with cutting bills etc, reclaiming, saving and shopping

I didn't keep a diary just made sure I kept track of my money all the time. DH is now coming home so we have sold flat and paid mortgage off. But we also have savings now even though we have less money coming in than 10 years ago we know where every penny goes. I never pay full price for anything if I can help it. I also sell any unwanted items on Ebay and shop in Al*i other SM if they vouchers or special offers
Both my kids know the value of money and now both have got on the property ladder with minimal help from us. I just wish I had known what they know at their age!!!!!
DH still has to find work but we both know we are a better position than 10 years ago and I'm a dab hand at creating meals out of nothing. (I cringe now at the food I used to throw away just because I didn't plan:eek:)

Thank you so much to everyone on MSE you are truly amazing:A:money: