10 Years Debt - I see the light

money_free_2011

Guys,

Just wanted to share something with you all as I am finally at the end of a long stretch of HELL.

At 19 I got a job which paid 25K so this stupid young boy went and purchased an 11K car and spent 1000's on clothes, holidays, going out etc etc. I then sold the car 18 months later for less than half the price to buy another car which decided to explode after 9 months of having it along with further spending I had 3 cc's, loans in excess of 30K.

I now earn approx 33K and have been splashing out over 1K per month getting rid of my 'life stopper'. I can not tell you how hard it has been and how low my life has been at times. Only my amazing wife and 2 children have helped me through this.

I have less than 5K less to pay and spring next year I am debt free!

If I can stand up in front of 15-20 years olds I would love to tell them how not to do it. But im nearly there and cant tell you how happy I am.

I wish everyone all the best in their conquest on the War against CC's and stupid spending.

freebyfifty

Well done you. :beer::j:T

The sense of achievement and freedom must be huge.

I am so jealous of you right now. I cannot imagine how that must feel but I hope one day that I'll be in your shoes. It'll be a long hard battle but I can tell from your post that it will be worth it in the end.

money_free_2011

Its worth all the sacrifice. Just gives you appreciation for what is important. Family and friends.

Nice walks with the children, parks and packed lunches! = same fun less price!

I wish you all the luck in your quest!

money_free_2011

Just an update from my origional post.

Please ignore my signature block (i have not updated it for some time)..

This is my last month of being in debt. I cannot explain how good it feels to finally get to the end of the road.

I will not say it has been easy. My biggest piece of advice is"YOU MUST WANT TO CHANGE". For years I kept trying, paying of one card, then few months later have a few big spends on a CC and back to square one.

I was paying £1100 of per month in debt and TBH could have gone the route of DMP etc... But thankfully I have tried to do it the hard way, cut spending and pay what I owed.

At the end of this month I will send that last payment of £500 for a loan I took out at 19 years of age. Which snowballed into over £30,000's worth of debt. It has ruined my 20's and will never allow my children to do the same.

We will open our savings account and put the £1000 per month debt payment into saving for a house deposit. So a big move forward for us. I know a mortgage is debt.

As per my OP. If I could tell children, tennagers what not to do. i would love to. And wish everyone out there all the best in their quest to be debt free.

IT CAN BE DONE!!!!

alimac23

Congratulations, now share! How did you do it??

money_free_2011

alimac23 wrote: »

Congratulations, now share! How did you do it??

Honestly, the main thing is commiting to it. And finding the 'cheaper' things in life more enjoyable.