Positive/success story - long time lurker

savingreallyhard

I have often lurked on this board (and others) and have always found inspiration in reading other peoples stories. I also like the way everyone is (nearly always, bar a few trolls) really positive and supportive. But have been a wimp and always just lurked and never posted yet!

Over the last 4 1/2 years I have worked really hard to grind away at
mine and my husbands debt. It was nearly all from uni and buying a car (we had a small, affordable wedding and my parents helped a bit) but still totalled just over 20k - and that's disregarding our official student loans. We were both earning good salaries but the money makeover was a revelation. I focused on simple cutbacks and savings and prioritised our debts. I have along the way managed to educate my husband a bit (one very memorable moment was when he said to me 'what's APR?' - he had overdrafts, banks loans, a student loan and a credit card but no understanding)! But we have devised a system that works for us, where I take care of the details.:rotfl:

In short I've done the stuff this site and you good people suggest/recommend/do. In April of 2010 we finished paying off our last bank loan (at £600 a month!) and by June our only remaing debt was a credit card of £3,000, on a 0%. At this point I could have paid it off, but I had been saving regularly to have some savings, whilst it was 0%.

I should mention that I have had added focus over the last year. This time last year, I was feeling very sick and wondering if I had upset my stomach with all the food and alcohol over Christmas. Yes, you've guessed it.. I was pregnant. It was wanted/planned (we didn't want to leave it any longer... biological clock etc) but as we'd been living apart due to work and rarely seeing each other (and knackered when we did!) it was a pleasant suprise!!

I found pregnancy very hard. I was very sick, lost a lot of weight and couldn't manage to get enough sleep. By July, at 32 weeks pregnant, I was permanently knackered and doing a 110mile a day commute (on top of 12 hour days plus 1 weekend a month). I drove into the back of someone one morning. I wrote my car off, got admitted to hospital in threatened pre-term labour and frightened the hell out of myself. And hubbie, family and friends. I was lucky. It all settled and baby stayed put! I juggled things with colleagues at work so that there was cover and I could do 'lighter' duties. Then I went on mat leave at 34 weeks. The magic moment was that I was no longer so stressed about money, that I could see beyond trying to save my paid mat leave for later and focus on looking after myself and bump. The sleep was bliss and my tiny bump which wasn't growing suddenly sprouted.

My debt-free epiphany was that I had my savings pot. Living where we do, I needed a car but my old one was essentially worthless (170,000 miles, old Astra) so not much from insurance. I was able to empty my ISA and buy a second hand, decent Ford Focus - perfect for our new family-to-be! I felt so proud of myself that I didn't have to borrow any money. Hubbie was also really impressed and it really made him appreciate the benefits of all my nagging!!!! It was just the best feeling to be able to say - 'don't worry hun, I've got some money salted away' and then to pay for the car with a debit card!

Our healthy, beautiful boy was born safely in September. I had originally intended to go back to work after 6 months as that was when I would stop getting any pay from work (although I know I get SMP for a bit longer). I wasn't prepared for the emotional rollercoaster of motherhood! Over Christmas we talked hard about me having longer off. We've sat down and I've 'crunched the numbers'. We can afford for me to stay off for the year!

Now I know lots of people have to go back to work etc: I'm only talking for me. We're lucky. We were both on good money, I had quite good maternity rights and fairly frugal living has become second nature now. We will have to put the saving for a house deposit back a bit! I know there are lots of you out there who have things much harder.

I just feel so positive about it all compared to how I felt a year ago!! I feel so proud that all my bean counting has paid off. We could so easily have sqaundered our spare money each month on holidays and 'stuff' we could do without. Instead we have a beautiful son that I will be able to spend a year with instead of rushing back to work (and that commute!)

So to any lurkers (like me) out there - keep at it. Follow all the tricks and do your best to clean up your finances. You never know how life will suprise and bless you.

Tixy

Fab story.
Well done and congratulations on your little one. Hope you really enjoy the first year you have off with him.

dancingfairy

Ahhh - that's such a lovely story - really glad all your hard work has paid off. Enjoy it.
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mrs_motivated

Your story really made my day! Enjoy your baby son, you deserve it

mrsb83_2

Great to hear stories like this! Congrats!

mummum2

Great story! very impressive with the debt loss! congrats too you, hubby and enjoy your baby.

MM2

Percy1983

Great post, glad all is working out for you.

I ahve to say after the intial grind to get the debts down we are no at the point where they are nearly gone and emergencies are no problem, by all means nothing is going wrong but the car insurance is coming round and we will be able to pay both policies in full without blinking.

In short when you know you are living well within you means its a great feeling.

bluebag

Congratulations on the birth of your baby. You also have the opportunity to give him the gift of a SAHM for a year thanks to your frugal ways.

Financial security is a difficult thing to achieve, well done for making the adjustments needed to get there.

dinx1972

Well done, all your hard work has definitely paid off in the nicest possible way. :TWhat a lovely story.

victoriaplum1

What a great story! Goes to show it can be done! Where did you start though and how did you get so hooked on being frugal? I keep falling off the wagon and there is so much information on here I have no idea where to start....I don't have massive debts - only one credit card with a 3k balance and a mortgage of 105k but the mortgage is interest only so I really need to start putting money aside to pay off it off - I too am a SAHM at the moment I have 2 boys aged 5 and 2....and I agree it is a luxury if you can stay home - I am hanging on by skin of my teeth now though as OH only earns 16k so it is really time I went back to work, if I could find a pt term time only job I think I would. In the meantime I need to cut back and save money....but have a lack of real motivation and not sure how best to go about it...grateful for any tips!

ellesbellesxxx

Ahhh this is a lovely story - congratulations!