Start of my Debt-Free Journey

[Deleted User]

Thank you all, I cant believe how generous youve been with your time and advice- youre all helping me keep on the straight and narrow.

Going to speak to Sky tomorrow to see if we can negiotiate a better price- we pay £66 per month- this includes £11.25 line rental (cheaper than BT), and £7.50 for the broadband. We also pay for multi-room for our son, would feel really bad cancelling this, again feel guilty as its not his fault we're in debt, he never asks for anything.

Will also call orange to see if I can save anything on my contract, fingers crossed.

Also great idea about paying family loan, owe my mum three more months payment (borrowed £1500 over two years ago and been paying £50 per month since). Hope e-bay and car boot will raise the £150 I need to pay mum off, that means its one less loan to pay off and I can use this towards the rest.

Things are so much better that this time two months ago financially. Usually at this stage of month theres no more money left in accounts and have to move over to spending on credit card. Last month I'd cut up the credit cards so this time last month was having to transfer money from our bill and direct debit account to live on til payday on 15th, then transfer the money back to bill account after payday. This month we have approx £500 left in account to last til 15th April so shouldnt have to transfer any money from bill account to live on, that means pay on 15th wont have the £450 transfered back to bill account - sorry for being so confusing- its great news and real progress.

Am going to sell as much as I possibly can, DH is scared to stand still in case hes next!!!

Thanks all again, would love to hear how your all doing or how you did it, love hearing others stories- I'm so nosey! x :T:T:T

lucielle

Morning Lilykins, sounds like you've had some great advice and are making fantastic inroads on your debts. Didn't want to read and run.
L

Wee_Pilsbury

Congratulations on your LBM - I'm sure your DF journey will have ups and downs (I know mine has) but you will get there . I'm almost at the end now and it feels so good - I'll keep an eye on your posts to see how you get on (goes off to subscribe to thread)

Good luck!

[Deleted User]

Thanks again all, have had to spend quite a bit today which I'm gutted about. Mothers Day cards (got nice ones at cheap card shop), brown wrapping paper to send off all those e-bay parcels we've sold, choccies for our mothers (on offer at A**a), needed petrol and a couple of birthday cards. Also needed rabbit food.

Not sure if I can recommend things but wanted to let everyone know bacon is on offer in Farmfoods (three packs of 600g, 18 slices of bacon for £5), think that'll keep us going for ages.

Do have to go up to MILs on Saturday but DH says he will drive economically.

DH is going to speak to his family about stopping all the b'day presents, hope they wont be offended. He still hasnt rung Sky (its in his name) think hes hoping I'll forget!!

Hope to have a few NSDs now, cant believe I'm hating spending money!!!

Would love to hear how everyone is doing or from people or have done it, love inspiration. :rotfl:

Wee_Pilsbury

Look's like you are into the swing of things already .

I'm almost at the end of my particular road and my three top tips would be : -

• Do Martin's downshift challenge for brands - I dropped a brand on almost everything (I NEED Heinz Tomato Soup though ) and it makes a massive difference. Sad as I am, I would do my downshift grocery shopping and then come home and go onto mysupermarket.co.uk and add in the items and brands I would normally have bought for a comparison. Seriously - I reduced my shopping bill by 50% without trying that hard!
• Join in the various challenges on the DFW forum - my favourite is the NSD challenge - works a treat:D although becomes seriously addictive!
• Cook from scratch where possible - cheaper and tastes better IMHO

zarazara

Sounds very promising lilykins. Thankfully your DH can see the light too! Bargin hunting at the supermarket can get quite addictive,as can NSD's. I found it helpful to build in a monthly treat,a magazine or coffee in a shop,for example,helped me keep to the straight and narrow and not feel overwhelmed.

[Deleted User]

Thanks again everyone, your advice valued as always.

Have managed a NSD today- also DH has cancelled Sky but doesnt come into effect until end of April, thats a saving towards paying off the debt.

Have switched the central heating off and am hoping not to have to use it again until September (do you think thats too opptimistic?).
Does anyone know what the cheapest heater is to run, just want to get something cheap to take the chill away in the lounge in the evening. Have dug out thicker dressing gowns and jumpers.

Been driving the car very carefully in order to get more MPG.

Sticking to my menu plan and not resorting to take-aways at all, major achievement- everyone was right, meal planning is fab, not only saving money but also saving time. Havent got home from work, spent ages trying to decide what to cook and then finally resorting to take-away because too tired and hungry to think. Have found it hard initally to spend Thurs evenings trying to think of orginial meals, but have managed different things for two weeks, may try to do another week and then rotate. The old style boards have great ideas.

Wee Pilsbury your ideas are great, did you have much debt previously, would love to hear your story.

Zarazara, love the 5 pleasures board, I'm feeling grateful for my lovely family, hope to make my DH proud by following this through, not giving up as I usually do.

Most of my credit cards and loans are paid towards 15th of month, cant wait for April to review the balances, will update my signature then. Fingers crossed for a noticeable reduction in debt..............................................

rubbish_rosie

I just wanted to say I know exactly how your feeling. I've posted my soa in an earlier post. I'm in a mess and just looking at solutions I think a DMP is looking my best solution but need to find out more.
It's is ridiculous and I feel ashamed to say it but i feel I'm in mourning for my life where I would spend my lunch hour looking around the shops and meeting for coffees and meals out. The thought of not getting a VIP slot in the next sale this year makes me feel sad - how shallow. Yet buying clothes etc didn't really bring me happiness as I knew I couldn't afford it so it just doesn't make sense.

I feel lost as I no longer want to spend my lunch hours etc shopping and lunching as I know it's such a waste of money however I'm not getting any pleasure yet from cutting back. Ive been so careful and not spent a penny that i didnt need too in the last few months.Im hoping that's
because I haven't got the DMP on place yet so I'm not seeing any reduction in my debts.

I just feel in limbo - just numb and depressed.

I'd be very interested to see how you progress and when you start to feel happy again. It's nice to know your not alone. Good luck.

dave1961

Hi Lilykins,
Firstly well done, taking the demon of debt by the horns, is a very big step, to getting debt free. As someone who has been in major debt ( 43 K unsecured & 65 K mortgage ) in 2003 to debt and mortgage free, 2009, let me assure it can be done.

Do all the little things that everyone is advising on this thread, they all make a difference. Debt snowballing is a very good tool, it may look a small step now but when that snowball is £500 per month, paying off larger debts within a couple of months is a real buzz ! At it's height my debt attack fund as I called mine was £2000 a month, this helped me pay off my mortgage in under 3 years.

As for your mortgage, one of the biggest helps for me was changing to a flexible repayment mortgage. I am with The One Account, The beauty of which is this account is a current account, savings account and mortgage rolled in to 1, so any money in there is balanced against your mortgage, so you only pay interest on the balance, saving thousands quite literally, plus when you've paid off your mortgage they pay you interest...I got a whole 19p for feburary, whaoooo !

Most powerful of all is belief, you can, and will be debt, and once done life is never the same again, believe me.

All the best. Dave.

:T

[Deleted User]

Thank you Dave,
Youve done so well, it must have been hard for you initially. I know it sounds like I am running before I can walk but am also thinking of attacking the mortgage as soon as I've paid off the debt, it must be so liberating.
Well done you- hope I can post similar things in (many) years to come!!! :T