The Debt Free Roll Of Honour

Ali-OK

Date of lightbulb moment - November 2005

Debt at Highest - @ £24K

Debt Free Date - 28th February 2007

Pearl of Wisdom

Budget like mad. Re-read it, re-do it, check it, tick things off once paid, check against on-line banking, etc. This was my motivator and the way I kept in control (and will continue to do so). Also helps to realise items that initially you didn't cut out/cut down and I had further "lightbulb moments" as the weeks and months went by. Project repayments and budget for months ahead - in the knowledge the debt is coming down and will go down further.

Price check every single outgoing, whether its an annual or monthly payment or the food shop. Time spent checking is money saved. Make every penny count.

The DFW lifestyle is totally for me. I'm addicted to frugal spending and saving money!

tealady

Lightbulb moment - when I realized I was spending up to my credit card and overdraft limit every month. This was in 1996
Max debt £6000 + mortgage (hadn't a clue how much i owed and was struggling to keep two people on one income, £2000 credit card debt £2000 overdraft. Foolishly I gave up my home.
Debt free date 1997.
Pearl of wisdom. Find a treat that doesn't cost anything (or veery little) it helped me keep going with money saving.

DevilGoesDown2Bristol

Lightbulb moment: January 2003, when the previously-stuck switch was flicked firmly to "on" by a friend who gave me a serious talking-to
Debts at their highest (discounting mortgage): £42,733
Debt-free date: October 2005

Pearl of wisdom... There are two - and only two - ways to have more money: you can spend less, or you can make more. Not everyone can do the latter, but a lot more people are capable of it than ever actually do it! Be brave, know your rights, understand your position as thoroughly as you can in every way, stand your ground and never - NEVER - let the nay-sayers tell you you can't achieve more, because you can!

The very best of luck to you all.

ancasta_2

Full Lightbulb moment : November 2006, during the come down from my wedding and honeymoon
Max debt : £2,500 + joint mortgage
Debt free date : 17th March 2007
Pearl of wisdom : Treat it as a game, challenge yourself and "beat" your self each month / week but dont let it get you down if you dont. And always have something in the house to have as a treat when your feeling down... if its an expensive nailvarnish you got cheap on ebay, or a home made face mask, or silk pyjamas from before your LBM.
A little creature comfort thats not in your every day life to perk you up

itsarichmansworld

a. The date of your lightbulb moment officially sept 06 although it flickered earlier.
b. Debts at their highest £ 27000
c. Debt-Free Date March 2007
d. Your one perl of wisdom. DO what feels right to you I personally re-mortgaged however I am now on the right track and apart from taking a year out next year for a career break I plan to have mortgage paid off in a few years.
But this was not a easy way out you need to break teh debt circle.
Budget dont be scared to check your bank account daily!

Know what you have and you cant go wrong....

Jarlawuk

a. The date of your lightbulb moment
July 16th 2006 - 24th birthday heh

b. Debts at their highest
£4000 credit card debt, £1000 for tv on 0% 9 mth deal, £10k on student loan

c. Debt-Free Date
20th March 2007

d. Your one perl of wisdom.
Tackling one problem at a time - makes life a lot easier. I targetted the least amount of debt first and made minimum payments to the rest so that I felt the 'reward' sooner. I cleared off a £500 credit card and cancelled it before moving onto a £1000k one. That way it also meant I had less on my plate and easier to see the 'big picture'.

So glad I finally got my debt over and done with and only have to deal with a mortgage. Only shame is it took me so long to get over it because I was far too materialistic, and wasted all my money on eating out and designer brands so I had little to show for all the money I wasted.

Lovin_It

a. The date of your lightbulb moment - November 2006
b. Debts at their highest - £6000
c. Debt-Free Date - today 4th April 2007
d. Your one pearl of wisdom. - buy what you need. Surprisingly, I found no feeling of loss of living standards, I just didn't waste money on things I didn't need. The Grabbit board on here kitted me out with extras even, half price Sky all year, new kitchen equipment, computer stuff. Just don't buy on impulse when in the shopping mall!

Emmzi

a. The date of your lightbulb moment

About 20 months ago, when redundancy really became a possibility

b. Debts at their highest

Never did an exact figure but about £35k

c. Debt-Free Date

Today!

d. Your one pearl of wisdom.

You have to give things up to clear the debt. No point starting unless you're prepared to abandon some of the things that got you in the mess in the first place.

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

No, just various postings.

aliG_3

Hi

Lightbulb moment feb 2007.
Debt excluding car and mortgage approx £:eek: 15700
Debt free hopefully in 3and a half years.
Need to have self control and love checking this site it has really opened my eyes.:rolleyes:

Tashja

Ok - I didn't realise I should post here when I get DF - so here goes.

LBM - April 2006

Amount of Debt - £7500-ish not including a loan we had

DF Date - January 2007 thanks to our financial advoisor getting us an excellent deal on a new mortgage - lower payments, lower interest and all debts paid including the loan !! The re-mortgage gave us the push we needed and allowed us to clear the last bit of debt. £4,000 was done off our own backs thatnks to this site.

Pearls of Wisdom - READ THIS SITE AND BE OPEN TO ALL THE EXCELLENT ADVICE OFFERED !!!

Thank you to everyone who offered advice and help over the last year or so. We are now saving to move to Cornwall - a position I thought we would never be in. Thank you all.

T xx