The Debt Free Roll Of Honour

davo51

[Effective] Light bulb moment:
June 2011

Debts at highest:
£21,000.

Debt-Free Date:
05/11/2014

Pearls of wisdom:
Firstly admit to yourself that you have a debt problem. You will have ups and downs while paying off your debts. No matter how long it takes you will become debt free.

Threads that helped:
This forum has been great help to me over the past three years.

bsqnellsxde

there is no shame in getting it wrong and making mistakes along the way!

newroadahead

[Effective] Light bulb moment:
July 2008

Debts at highest:
£35,000.

Debt-Free Date:
04/11/2014

Pearls of wisdom:
There is an old song that says when the going gets tough the tough get going, well it took me a long time but I got going in the end. The best decision I made was to come to MSE and seek help from Payplan
Threads that helped:
Not sure how to do links but the OS board and reading other DFW diaries,
I started a couple of diaries in my time but found inspiration from others and am grateful that no one judged me, even with some of the bad decisions on the way

Going Forward: Start a savings account, pay off our mortgage and make sure OH is debt free soon

NRA

Samiszel

a. The date of your lightbulb moment: 6/11/2011
b. Debts at their highest: £13,120
c. Debt-Free Date: 9/11/2014
d. Your one perl of wisdom: pay off what you can, however small- it all adds up
e. Links to the MSE guides that helped you: http://www.moneysavingexpert.com/banking/Budget-planning
f. Which forum threads helped you: NST Challenges, NSD Challenges, Make £10 a Day Challenges


Now to focus on paying off the mortgage.... :T

Ellieseleven

Well done to you all! I find so much inspiration and motivation on this thread and look forward to the day when I can post here:beer:

FeistyFidget

How have I only just stumbled across this thread! I wish I'd spotted this earlier as it would have been lovely to join in. We made the risky decision to purchase a (already running) shop back in November 2013. We quickly realized that I had been very naive in taking the previous owners accounts and financial figures as gospel and that in fact we had purchased a business that was in such a black hole if we didn't step out of it, it would take us down too. We sank our entire savings and put a lot of money on credit card to purchase the business, but sadly after less than 3 months (some days taking nothing at all!) our credit/money ran out. It was a very bleak moment to realize that in such a short space of time our financial world had been turned upside down.

[Effective] Light bulb moment:
January 2014 - After having to pay my annual tax return, our debt was officially at it's highest and I knew drastic measures had to be taken to climb back out.

Debts at highest:
£6,000 (we are a single income home)

Debt-Free Date:
14/09/2014

Pearls of wisdom:
Quit blaming the world for your misfortune/bad decisions. Instead of complaining, do something pro active! Clutter can always be turned into cash!

Threads that helped:
52 Week Money Challenge - It helped to know that despite our debt, we technically had a tiny amount of savings
*Stop The Cavalry* It's The 2014 Christmas Chatter Thread - These ladies/gents were fantastic at helping me through the dark times when we had the shop and then helping me to pick the pieces up (and not be so hard on myself) when I was trying to put our financial life back on track.

VeronicaMars

In debt for the majority of my adult life, but as of 27th November I am debt free! :beer:

Light bulb moment:
I have been in debt since I was 18 (2001)! But first lightbulb was around July 2009 when things started to get really bad! I was debt free for about a month in 2011 and then racked a large amount back up in a matter of months. 2012 when my husband proposed was when we both really started to get our lives in order and start making some serious changes to clear both my debt and his debt and pay for a wedding and honeymoon!

Debts at highest:
It was constantly changing but at highest was around £16,500k. £14,000 on credit cards and the rest in overdrafts.

Debt-Free Date:
27/11/2014

Pearls of wisdom:
Gosh sooooo many lessons I learned. Too many to list. Not all of them money related either! The biggest one was to stop worrying about what other people were spending/doing and worry about myself. And life is too short - sometimes you gotta buy that coffee. :coffee: Also sometimes you need to make changes that cost more but the effect on you life/sanity are priceless :A

Forum threads that helped: The debt free diaries really helped me realise that I was NOT alone in this. Others struggle with similar issues and are dealing with debt and situations that are MUCH worse than mine!

My debt diary on the Debt-Free Wannabe board (DFW):

https://forums.moneysavingexpert.com/discussion/4990711

https://www.lifeatthelodgehouse.blogspot.co.uk

This is my second diary. I had another diary that was filled with negatively and bitterness where I blamed everyone and anyone for getting me into debt, other than me. I was taken advantage of, on many occasions, but that still did not amount to £16.5k of debt! :money:

Post Debt Free Thoughts...
I expected this huge sense of relief but I feel nothing! I dreamed of what I would do when I eventually got debt free, go to a nice restaurant and get a lovely meal and some bubbly or a nice spa day and relax and reflect on where I was and where I am...with a good book and some vino of course. But nothing. I think subconsciously I am worried I will rack the debt back up again - that is why I have came here! It is in writing now! I can't rack it back up!!! :rotfl:

xoxo

LionessInWinter

Congratulations VeronicaMars, you did it !!!!

VeronicaMars

Thanks LionessInWinter!

Seeing your message made me feel all good about it

black_taxi_2

posting today for debt free badge,a bit late

18/04/2011