Debt Free in 2015 - Who's with me?!?!?!?

miss_empty_piggy

Wow, just reading how much you guys have achieved is unbelievable. I can't even imagine being able to pay off £15K in one year, where does all that money come from? I really need to up the anti.

Last year I managed to get savings pots and credit cards organised and made some steps towards getting organised. This was great and I was on track until I lost the plot in december and raided them all so they're down to nil again. Have made a budget for building them up and will try so hard to pay this debt off this year, keeping in control. I am really disciplined with myself and need to get a firmer grip with everyone else in the family, as it is for everyone's benefit.

DOH and I are sitting down soon to organise the finances as he has a big tax bill which for one reason and another got forgotten about so we need to get organised big time.

I am really hoping that this site will help to keep me on track and not fall off the wagon. I am determined that this year I can do it.

Newyorkdreams

Hi Empty Piggy! Good for you, I can sense you mean business! I don't know if you've seen the Goals for 2014 thread that I started the other day - it's a good way to commit to some specific goals over the next 12 months. That might help too?

I am pleased with my progress this year and met my financial goal to pay off £15K. I am fortunate that I earn a good salary and we have no kids, smallish mortgage and own our car outright but we have a lot of debt so it feels like we earn a lot less than we do! I don't make our debt common knowledge so I'm sure people must wonder why we never seem to buy anything. I just say to people that we are saving to buy a bigger house. I know you shouldn't lie but I don't really like sharing my personal business with people outside my family and close circle of friends. And to be honest, I'm embarrassed about it. It was ridiculous overspending and not budgeting that got us into this mess (£44K but £60K at it's worst) and was very naive, silly and immature. The main thing is though is that we have learned our lesson and I'm so glad that we are able to do something about it.

I look forward to sharing the next stage of our debt free journey together!

NYD xxx

recurrent-ostrich

Newyorkdreams wrote: »

we have a lot of debt so it feels like we earn a lot less than we do! I don't make our debt common knowledge so I'm sure people must wonder why we never seem to buy anything. I just say to people that we are saving to buy a bigger house. I know you shouldn't lie but I don't really like sharing my personal business with people outside my family and close circle of friends. And to be honest, I'm embarrassed about it. It was ridiculous overspending and not budgeting that got us into this mess (£44K but £60K at it's worst) and was very naive, silly and immature. The main thing is though is that we have learned our lesson and I'm so glad that we are able to do something about it.

This is so similar to us. We both earn reasonably good salaries and are in a very small house with three kids. Our family have no idea about our debt and must also wonder why we struggle financially...not knowing that we are putting half our income into servicing our debt, so I basically work for free every month.
Ours was £51K at it's highest, also overspending and not budgeting.

I've now taken to telling people we are saving to move.....not sure people will believe us, as they will wonder why we can't just move, and also our house is falling apart and we can't afford to replace the kitchen/broken furniture etc, and we'll need a completely new central heating system too, but we'll just wing it LOL!

miss_empty_piggy

Newyorkdreams wrote: »

Hi Empty Piggy! Good for you, I can sense you mean business! I don't know if you've seen the Goals for 2014 thread that I started the other day - it's a good way to commit to some specific goals over the next 12 months. That might help too?

I am pleased with my progress this year and met my financial goal to pay off £15K. I am fortunate that I earn a good salary and we have no kids, smallish mortgage and own our car outright but we have a lot of debt so it feels like we earn a lot less than we do! I don't make our debt common knowledge so I'm sure people must wonder why we never seem to buy anything. I just say to people that we are saving to buy a bigger house. I know you shouldn't lie but I don't really like sharing my personal business with people outside my family and close circle of friends. And to be honest, I'm embarrassed about it. It was ridiculous overspending and not budgeting that got us into this mess (£44K but £60K at it's worst) and was very naive, silly and immature. The main thing is though is that we have learned our lesson and I'm so glad that we are able to do something about it.

I look forward to sharing the next stage of our debt free journey together!

NYD xxx

Oh Thanks NYD, I will check it out. I think you've done amazingly well to get yourself back on track. Well done you. I know what you mean about not telling others. To be honest, I don't really think that it is anyone else's business either. And whether you chose to tell people or not is up to you at the end of the day.

Between us DOH and I have 4 girls, 2 live with us FT and 2 live with us PT. DOH is self-employed and often works away a lot which is difficult. I do find it difficult to budget but my goal is to get rid of £15k debt like yourself, with this forum I'm sure that the journey will be a little less painful!! Thanks for the support - it is greatly appreciated (and needed - a little bit scared but one day at a time eh?) x :rotfl:

blissfullydebtfreewannabe

Hi everyone,

I'm up for the challenge! I currently have around £15,200 of debt and I have a DFD of February 2017, which seems AGES away considering I have spent years paying debt off already.

Anyway, I would like to aim for December 2015.

Good luck everyone!

loobylou2

Can I join the challenge too please. 2013 was a bit of a rubbish year for me and I didn't do nearly as well as I wanted to in reducing my debt due to things happening at home and in my personal life. I would like to get rid of my £15k of debt by end Dec 2015 if I can. So any help/support/advice would be much appreciated. xxx

Bex296

Hi louby and blissfully!

I'm looking forward to next year now, as I will hopefully be debt free by April 2015! Seems a lot nearer now we're into 2014...

I have under £10k to clear now, and can't wait til I have extra disposable income (rather than pretending I do and putting stuff on a credit card) and am saving for a house rather than just servicing debt...

I'm going to try and post in here a bit more often, so see you all soon!

jammy_dodger

good evening folks
and happy new year i would like to join this challenge it seems too fit in with my targets i have just under £9000 :eek: how did that happen... on 3 credit cards to clear all on 0% at various stages and hope to continue to shuffle these about to keep the interest at bay

i was hoping to clear by the end of this year but have taken my head out of the sand and realise it may well take a bit longer short of a miracle

but hey ho 2015 is not so far away and i reckon doable

lets keep each other on the straight and narrow and most importantly motivated to reach our goals

best of luck
JD xx

Huxley1864

Hi everyone,

I'd like to join this challenge please! I have approx 14,000 of unsecured debt to get through and dec 2015 sounds like the perfect time to get it all paid off.

Newyorkdreams

Hi Everyone - it's gone really quiet in here! Everyone must be debt busting quietly in the background (here's hoping). New members are absolutely welcome to this thread - I'm sure there are lots out there who are aiming to become debt free in 2015! Come and join us and we will support each other in this difficult and painful journey!!!

Our very own thread-starter 'Dolly Rocker' has already become debt free! Well done Dolly!!!

I am still on track to become debt free in December 2015 all being well. Got some good news yesterday, Fluid are upping my credit limit by another £4000 so I have transferred a 19.9% card onto this card for 2.9% fee for 12 months for 0% and I've been accepted for another 0% card so will be transferring £2000 from a 6.8% card for 28 months. The majority of our debt is now on 0% deals which helps me massivley as I know our payments are on the actual debt rather than interest.

Our debt, as of the end of this month, still stands at:

£45, 986 :eek:

However, this time last year, it clocked in at:

£58, 642 :eek:

I'm hoping that by the end of 2014, our debt will be:

£27, 814 :T Still signficant, but a lot, lot better than the first and second figures above!

Let me know how you are all getting on!

NYD x