Debt Free by 2013 (not a typo)

FlacosFloozie · 20 January 2013 at 8:55PM

Way to go Dec!

Money_mayhem · 20 January 2013 at 10:05PM

Well done Decadent. Keep up the good work

Mm :wave:

Decadent_Debtor · 20 January 2013 at 11:06PM

Thanks everyone for your comments! The support on this site is incredible, I bet the banks hate it ;-)

Decadent_Debtor · 22 February 2013 at 9:39PM

Evening everyone! Right, payday update...

Things are pretty much bang on track... though that might be allllll about to change! ;-)

Ok, so maybe not that dramatically, but next month is bonus month, and whilst I had originally planned to use it to reduce my debts, I've since had a bit of a re-think...

The problem is this: I really need to spend a bit of cash on the house (as regular readers will know). I'm going to have to sell/rent it out when I get my next work placement in a few months, and that isn't going to happen with the house in it's current state.

So, I can either rush to pay my debts off... then straight away take some new debt on to do the house OR I can slow down repayments on the existing 0% debt, incur no further interest charges, and get the house done. Sounds like a win-win to me!

Also, the new job will mean more money, so I might see the bonus back over the course of a few months following the pay rise and end up back on track. Fingers crossed.

Anyway, I've thought about it a lot, and this is the right thing to do.

So, other than that, very little to report! It's all going really well. I know that's boring, and must make my diary pretty dull, but it's the truth!

Going to check in on the other diaries and see how everyone else is doing. Will try get on before next payday, I could do to use the site more, it is great for keeping on track.

Decadent_Debtor · 23 March 2013 at 12:07PM

Well, I didn't make it on between paydays, but all is still going well.

It was 'the big one' yesterday (2012 Brucey Bonus), so I've had all my spreadsheets out this morning looking at how best to spread it between the house, debts, and ME (it was for MY hard work after all haha).

Vast majority going on house, and it is SCARY how quickly it disappears! I wouldn't even say I have particularly expensive tastes - Ikea all the way for me. Oh well... once it's done, it's done.

Decided to leave the garden as it is, and not touch the two bedrooms I don't use. Will focus instead on the living areas, my bedroom and the bathrooms. Hopefully the changes will help me sell/rent it out in a few months. I don't expect to see the money back per se, but if it helps it sell/rent quicker in the current climate then that's got to be worth something, right? Will make it nicer to live in too (not that I'm really one for soft furnishings).

Other than that, it feels really odd having a pot of money (albeit a pretty small one) to spend on ME. I think I've been living the MSE-lifestyle for so long that I've forgotten how to treat myself! Anyone else suffer with this??? Some new clothes and an iPad should do it. I've wanted one for aaaggggeeesss (and it might help with posting more often on here - last thing I want to do after work is get the laptop out).

Been looking at some numbers and think I'll probably be all paid off and fully debt free (mortage-aside) by this time next year. Ok, it's a *little* bit later than I would have wanted, but in the grand scheme of things I'm still really proud. If I had carried on as I was previously then God only knows how much I would still owe, or how much more debt I would have taken on.

Overall, it's been tough in places, but life is good.

Right, off to catch up on everyone else...