£37k to £0 in a (determined to make them wonderful) few years!

Thistlewhistle

Hi Ladybird,

I've just read your thread and you're an inspiration!!! I'm concentrating on my credit cards and then I'm tackling the mortgage so partner and I can look for a house together. I'm sure I'm in neg eq at the moment so that's at least £20k to clear before I'm "mobile" again.

Going to subscribe so I can continue to be inspired by you!!

TW

Ladybird.

Thank you all, what lovely kind replies

Interesting that we are not the only ones slipping a bit GL, makes me feel a bit better!

Best of luck on your journey Thistlewhistle! Negative equity is such a nightmare, we are in the same position!!

Not much to report at the moment. Planning a big spring clear out on Sunday, mainly the spare room which has become something of a storage dumping ground! Not sure we have anything left of any value to ebay but perhaps we might stumble on something! Having not done much (any) sorting through and selling of stuff lately I'm feeling quite up for it!

We have been very good over the last year about not buying bits and pieces for the house, but natural wastage/breakage of glasses, crockery, and other things means that we are going to have to look to replace some items. Planning a trip to Ikea to hopefully get some bargains, might pop into TK Maxx too as they are quite good for cheap but good quality kitchen and home things. Will have to be very restrained as there are other, larger things we really could do with, but are trying to make do with what we have for as long as possible!

Hope everyone is well! x

Ladybird.

I'm pleased to say that yesterday was the most MSE day I have had in a long time!!

Totally cleared out the spare room and took two car fulls of junk to the tip, meal planned for the week and did a big Lidl shop- now have lots of nice healthy meals to look forward to. I'm back on the diet wagon too :A

Didn't find anything worth ebaying in the spare room but it is nice to see a decent amount of floor visible in there again rather than pure stacked boxes.

Have been sliding dangerously close to buying a few expensive items I need for my job, but have resisted the urge. Being self employed, I am finding myself a bit torn between using the money I earn to pay off debt, and investing it back into my little business (which to some extent I need to do, to make more money). I desperately need a few new pieces of equipment to replaces ones falling apart, and would rather buy quality rather than have to replace again in a year or two, but would rather see the money bring the debt down. Difficult. Think I will try and mend/make do for a bit longer.

Can't believe it is nearly the end of March already? This year is going so so fast?

Thistlewhistle

Ladybird. wrote: »

I'm pleased to say that yesterday was the most MSE day I have had in a long time!!

Totally cleared out the spare room and took two car fulls of junk to the tip, meal planned for the week and did a big Lidl shop- now have lots of nice healthy meals to look forward to. I'm back on the diet wagon too :A

Didn't find anything worth ebaying in the spare room but it is nice to see a decent amount of floor visible in there again rather than pure stacked boxes.

Have been sliding dangerously close to buying a few expensive items I need for my job, but have resisted the urge. Being self employed, I am finding myself a bit torn between using the money I earn to pay off debt, and investing it back into my little business (which to some extent I need to do, to make more money). I desperately need a few new pieces of equipment to replaces ones falling apart, and would rather buy quality rather than have to replace again in a year or two, but would rather see the money bring the debt down. Difficult. Think I will try and mend/make do for a bit longer.

Can't believe it is nearly the end of March already? This year is going so so fast?

Hi Ladybird,

Buying things for your business is entirely a different kettle of fish as without them you can't continue to earn in the future. I consider these purchases as being paid for out of forward earnings. They'll be tax deductible too surely. So then it's a matter of value for money. Buy cheap, buy twice!

Thistle

Fae

Hello LB,

I agree this year seemd to be speeding by, we moved house nearly a year ago, and it only seems like yesterday :eek:
Well done on getting to grips with the spare room, don't suppose you would like to come and sort mine out would you ?:rotfl:

I can understand your dilema with the need to but things for your work, I think the idea of waiting and going for quality is a good one.

Fae

Ladybird.

***LBM Anniversary!!***

Wow, it's April 2013, an entire year has passed, the first of our debt free journey!! It has flown by so fast!

Current debt stands at £25,190, so in our first year we have paid off £11,707 :j

I should be able to knock off that £190 to bring it under the £25k mark before the end of the month, reaching another milestone, so pleased about that

A few things that I have learnt above all this year:

It gets easier. The first few months for us were very stressful and tight money mise, because (like a lot of DFWs) we had stretched ourselves much too far already with our debt commitments. I worked out that for every £1k we paid off, our monthly outgoings reduced by £25, and that money made a big difference not just in terms of snowballing and getting things paid off quicker, but also in terms of giving us extra breathing space and easing the pressure.

Even little overpayments make a big difference. Sometimes I have felt as though little CC overpayments are a drop in the ocean but they are so so worth doing, especially if you have whacking great big interest rates like us. That £20 you just paid off would have turned into £44 left on a 30% card for another 3 years!

This forum is amazing. I have been much more focused and reduced our debt much quicker while actively visiting this forum, no question. Need to get back to visiting more regularly... (I keep saying that!).

Huge thanks to everyone who has been supportive along the way, you are a wonderful lot xx

Onwards and upwards... here's to getting under £20k by the end of the summer!:beer:

Evcakes

Absolutely fantastic, well done on all your progress that's an amazing amount to pay back.

Best wishes for the next year, Ev x

Ladybird.

Thank you Evcakes! Hope you have a great year too x

Fae

That's a great amount to have paid of in a year, you are so right about the overpayments, doesn't matter how much it is, it all helps.

Looking forward to seeing you reach under 20K :T

Fae

Thistlewhistle

Wow! Well done Ladybird and thanks for the wisdom!!
Tx