We did it: paid off £100K in three years

Upsidedown_Bear

unoriginal_uk wrote: »

And I was smug last week because I paid off £20k - I've got nothing on you!!

Be as smug as you like - you're debt free :T
Well done you :T:T

Firewalker

Paying debt off, is paying debt off. We just happen to had more. Glad our story helps people cope and deal with it - in some very strange way it was a very exciting time (well, after I calmed down).

When we started out three years ago, I didn't believe that we can do it so fast - I wanted to but didn't think it possible. We know different today.

ninadam

wow that is really amazing! i have a small amount of debt (im half way through since deciding i wanted to get rid of my cards) im at the stage when im now getting really excited about making a payment on my credit cards...and then feeling really pleased when i see the balance go down. Ive gone from plannning to have it paid by the end of 2013, to oct 2013 to now Aug 2013 using every spare penny i have to throw at it.Well done to you, a real inspiration.xx Nina xx

SunFlower

Congratulations Firewalker: that's a truly awe-inspiring feat you have achieved. All the best to you and Mr. Firewalker for a soon-to-be positive bank balance and wealth creation. After all that hard work, you certainly deserve it! :T

Willing2Learn

That is an awesome sum of money to pay off in three years. By 2023 you should be a millionaire...which is so cool...

AngryDog

Well done on being debt free. However, for you to be able to put £300 away each month and spend it on skiing holidays etc, while also staying in your property in Sofia, sounds like you werent struggling in the first place?

I know that there is no way that I could do all that you did, I'm lucky to have £40 left after all is said and done at the end of the month.

I do mean to offend, but your blog suggests that you lived a life that is unreachable for most people who are in various debts right now.

Michelin

AngryDog wrote: »

Well done on being debt free. However, for you to be able to put £300 away each month and spend it on skiing holidays etc, while also staying in your property in Sofia, sounds like you werent struggling in the first place?

I know that there is no way that I could do all that you did, I'm lucky to have £40 left after all is said and done at the end of the month.

I do mean to offend, but your blog suggests that you lived a life that is unreachable for most people who are in various debts right now.

Not taking away your fantastic achievement in paying off so much is such a short time, I don't think this is possible for most of us to pay off so quickly or to have so much disposable income while we are doing it. Agree with what the poster above said and also you say the only thing you had to give up was your car and again, that is not the same for most of us as we have to give up/sell/reduce our spending in order to get ourselves out of debt. Also, you were lucky as you say to have had such an understanding bank manager who helped you at the start and again, I'm not sure the rest of us have that luxury!

But as I say, this does not take away the fantastic achievement and I am reading your blog to see what tips I can pick up from what you have done.

bast

I think you have done amazing but agree with the above posters.. We have had our income reduced by over half and it is a lot harder to pay the debts off... find ways of making more money when one of you is medically retired and now struggling to find work. I have read your blog and was one of the first to write on your mse posts.... I still think you have done well please do not be offended but it is easier when there are two people in very good jobs, if you can give me any tips I would be grateful:) ...Love your blog and memory girls...Mortgage Free in three...

jaxsmar

:T Congratulations I'am sure there must have been times you felt it would never happen... I cant believe you have cleared so much off..it gives us all hope well done to you and your other half.I will check out your story.

Firewalker

I actually think that our problems are always proportionate to our situation in life. In fact on the blog I published an article about how to decide your approach towards debt - and as Martin has always said, there is no debt problem without solution.

When we started, we had a monthly negative cash flow of about £2,000. We cut expenses (I did feed five people of whom four adults on £250 per month; now we are three and we spend £35 per week on food), I have not bought lunch or coffee for three years (still don't) and we increased our income doing things I never imagine I would do - or I could do.

These are all things that anyone can do.

It is always tempting to think that others didn't struggle as you do - they do and it is just a matter of degree. If you have £40 left - use it to treat yourself. Then you will have the attitude necessary to play this game of life.

I wish you all the best in your quest and if I can help with anything I will.

Firewalker