Debt Free Countdown

DebtFreein5Months

Hi all,
To all those out there who are struggling to pay off a pile of debts - stay strong!

Years ago when I was young and foolish I made loads of mistakes with money which came to a head when I got divorced. I consolidated my debts and tried my hardest to get money from my ex for 'his share' but no luck - the Solicitor costs were piling up so I cut my losses. I had a whopping £34K to pay off, and my bank was very good to me and compiled everything into one loan where I paid a monthly minimum (£600) and I could pay off extra any time I wanted to (they say they don't do this anymore).

Anyway - things got tough, I had a nice little flat and things were moving very slowly (getting paid off) but everytime there was an unexpected cost (car related mostly) things took a step back. After no holiday for 5 years I asked my Mum if I could shack up with her so that I could clear it all. She said yes (bless her) and now I am just 5 months away from being completely debt free (loan, credit cards - the lot)!

It has been a long hard slog and I manage my finances in such a strict way, using a very big spreadsheet, I allow myself 'pocket money' and the rest goes to debts (and a bit to mum). My friends make fun of me because I know exactly how much should be in my bank account at all times! I was lucky because if Mum hadn't let me shack up with her I would have been looking at about another 4/5 years of it all.

So for anyone else out there who is the same boat - keep at it - and spreadsheets are really useful for forward planning etc

Good Luck

DebtFree2012

Congratulations to you and well done.

I have 2 years left however I have turned around from where I was. It's such a good feeling to start getting on track...I have a long hall left but seeing other ppl do it reminds me that one day it will be done.

Jo3y83

Congratulations!! You should be very proud of yourself
I too will be debt free in 5 months after enduring 11 years of it, most of it willing the debt away!