Shall I go Debt free or not? UPDATE- DEBT FREE !!!

linniestorm

Congratulations lynz, good for you, you really deserve the serendipity or whatever you call it at the minute!

I know if anything like that were to happen to me I'd be paying it all off straight away. Technically not the soundest way perhaps, but I still haven't got to grips with proper budgeting either, so there'd be too much temptation to 'just do/buy this that and the other, cause it's only a couple more months in debt and what's that when I've been working on paying it off for two years'

Even if I don't know everything about myself, I know enough to know I can't be trusted yet!

Sammz

Congrats Lynz!

mizmir

Sooo pleased for you lynz - if anyone deserves this it is you. Go for whatever seems comfortable to you - any which way you are debt free which is fabulous! :T :T :T All the best in the new job.

Spendless

lynzpower wrote:

INCOME
Currently on JSA will need to sign off today as I now have more that 16k savings.xxx

http://www.jobcentreplus.gov.uk/JCP/Customers/WorkingAgeBenefits/Jobseekerallowance/index.html


is it income based JSA you are on or contribution based? If it's income based you are right about the £16K but I couldn't find anything to do with savings if it's contribution based.

ms_london

CONGRATULATIONS!! :beer:

Well done hun, you've done a great job & it has definately been a struggle for you from the sounds of it. I admire your attitude & sticking with it.

Treat yourself to a bottle of bubbly and/or a nice meal - and then look to the future. Definately an idea to repay your parents & any debt with interest owing, but a bit of cash in an emergency account wouldnt go amiss either, again, you never know what's around the corner.

Use this time to budget properly - and start thinking about what you want from the future and how you are going to get it - dont waste everything youve learned whilst on your debt free mission & use it to your advantage!

Wishing you the best of luck for the future.

Enjoy!! xx

tesuhoha

Hi Lynz

Your quality of life has improved immediately because you now have the luxury of choice. You can choose whether or not you pay off your debts and that means that you are truly debtfree whethr or not you choose to have the kind of debt that will work for you, its not debt you are struggling to pay off anymore. Having this kind of choice takes away all the stress and you now have security. This will improve your health and happiness immeasurably. You can enjoy going out, shopping trips and holidays etc without guilt as long as you stay well within your means. So enjoy it.

Its funny; I have a friend who last year was about £9,000 in debt. They had almost paid their mortgage off but couldnt manage their money very well. Then their mother in law died. After her house was sold their share amounted to £50,000. Well I saw her at Christmas, she's now debtfree, has paid off the mortgage and has had several trips away including a week in Portugal with her daughter. However when I saw her I had never seen anyone looking more miserable and when I asked her what was wrong she said she envied me because our debts are going down (£74,000 mortgage and £17500 in debts!). She said they had spent £20,000 in paying off their debts, giving money to family and Christmas etc. She was upset because they only had £30,000 left in the bank! I couldnt believe my ears; I thought she would be happy but she had some complicated thing going on in her head where they are living above their means while we are not. It was really weird so please enjoy and appreciate your happiness and quality of life that being debtfree brings. Sorry I'm going on so much. Tell me to shut up.

lynzpower

Ill never tell you to shut up tes, you know I love ya

you are so right about the luxury of choice!

Being all of a tizz what with moving, just literally using whatever money was anywhere to pay deposits, removals etc me & OH sat down and had a big chat last night about whats where. I must admit over the last few weeks, it has felt very out of control. I was absolutely staggered to find these monies that are "floating around"

I totalled 17.97 tesco refund for cancelled broadband
31.00 cancelled life insurance to be refunded
200 barclaycard claim
at least 300 income tax
possibly 1k from industrial tribunal
250 from mastercard claim
100 abbey claim
possibly 50 from JSA which has got "lost"
plus a large amount of clubcard points, and a case of wine floating around in the smile system!
10 in paypal
15 in green met
TOTAL! 1973 OH MY GOD!!!!!
plus about 100 in quidco, as and when it arrives, plus 100 back from my mobile provider cash back! OH MY GOD!

So on thursday when my broadband turns up I will be cracking on with getting these things in process! Times of the essence, as once Im working Ill not be able to do these things as easily.

But I was literally breathless with it, to a certain extent I still am.

Once this little lot is all sorted this will pretty much clear my egg card. WOW.

anniestar

You are a true inspiration. So delighted that things are finally going well for you. God knows if anyone deserves it its YOU. You rock.

angelavdavis

Well done Lynz, I am really pleased for you!!

lynzpower

Im going shopping today- whether I can part with any of this money... we shall wait and see. Im desperate for new threads as everything Ive bought over the last year has been unable to cope with my fluctuating weight, so I decided to stop buying clothes pretty much altogether unless I NEEDED it. So i bought one pair of trousers erm, I think thats it since March! and they were £2! Oh and I bought 3 tops on my birthday. thats all :rotfl: