A year on...

berteddie

So exactly one year on from my "light bulb moment" and I'm feeling pretty good about what I've paid back from my original 23k debt spread over 4 credit cards and 3 overdrafts. Now owe 11k on one Loan

Problem is because I now see the debt as manageable, and therfore not as scary I've slipped into my old ways! Buying gadgets I could do without (a DSLR, new push bike, a second phone contract cause I "Had to have" the galaxy Note).

Now while I have bought these things without going into further debt I'm annoyed at myself cause I could be 1.5k closer to being debt free for the first time in a very long time... 12 years I think!

I hope this is my second light bulb moment and this time next year I can report I'm debt free... In fact, I'm certain of it!

CashRequired

Well done. You have to continue to be strict with your spending though, try buying cheaper stuff to treat yourself

I'm the same though, once the pressure is off you get a bit more chilled out about your spending. I'm down to my last £1500 of debt and I keep looking at new cars on the internet. I keep closing my internet down though to try and get the debt shifted.

Congrats on doing so well though, 12k in a year is excellent.

berteddie

Just to update cause your reply is resonating with me at the moment, I keep looking at motorbikes!

Down to 8k outstanding on the loan (pace has slowed down some because I've run out of things to sell!) Had the pushbike I bought nicked hence looking for a new motorbike. Problem is I'm looking a the new BMW 800 GS which would be 10k!

Keep telling myself no, yet find myself looking again a few hours later...

Must... Stay... Strong!! Lol

bexiboo92

berteddie wrote: »

Just to update cause your reply is resonating with me at the moment, I keep looking at motorbikes!

Down to 8k outstanding on the loan (pace has slowed down some because I've run out of things to sell!) Had the pushbike I bought nicked hence looking for a new motorbike. Problem is I'm looking a the new BMW 800 GS which would be 10k!

Keep telling myself no, yet find myself looking again a few hours later...

Must... Stay... Strong!! Lol

Why don't you aim for it as a treat once you've cleared all your debt?

orcocan

bexiboo92 wrote: »

Why don't you aim for it as a treat once you've cleared all your debt?

this

pick something that will not strain your finances obviously and promise yourself you'll buy it as soon as you're out of debt, that'll help you pay it off sooner :-)

loubie_lou

I maybe WAY off the mark here but do you get bored of things easily?

REALLY REALLY think before you go and blow 10k on a motorbike, surely there are cheaper versions which are just as good. It would be a bad thing if you spent all that money and it just sits in your garage!

TakingControl

I feel for you. I am on my last £2.5K and I too have started to think, oh I could buy this or that. I then remind myself I am nearly 40, house sharing with a friend and don't own anything apart from my bike. That is then my focus to push on as the next target is either renting on my own or saving for my own house