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

Jo3y83

Congratulations!!! :beer: :j :j :j

Amazing news!!

PinkPepperPot

Congratulations Firewalker!

Firewalker

bast wrote: »

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...

Bast, if you want to send me a message through the contact form on the blog (or any private way). We can talk. And yes, it is harder with one partner having health issues.

People's circumstances are different; this is why personla finance is tricky and general tips have to be specified to match individual conditions.

Firewalker

couldsavemore_2

congratulations Firewalker. Debt busting journeys like yours inspire me. our debts are not so big but nor are our incomes so all relative.but have been reading your blog with great interest looking for tips. i think you are right with having treats built into your plans. mine will not be big or expensive but just something to look forward to for all the family

the point about the tipping point was interesting not heard it before but makes sense

moving forward what are you hoping to achieve next?

YoungBusinessman

Doesnt matter how much disposable income you had - this is a great feat!!!

Well done you, would love to see a before and after SOA!!

Firewalker

YoungBusinessman wrote: »

Doesnt matter how much disposable income you had - this is a great feat!!!

Well done you, would love to see a before and after SOA!!

Didn't bother with those - used a budgeting tool we developed. Rather different though .

Firewalker

Firewalker

couldsavemore wrote: »

congratulations Firewalker. Debt busting journeys like yours inspire me. our debts are not so big but nor are our incomes so all relative.but have been reading your blog with great interest looking for tips. i think you are right with having treats built into your plans. mine will not be big or expensive but just something to look forward to for all the family

the point about the tipping point was interesting not heard it before but makes sense

moving forward what are you hoping to achieve next?

Thanks! As to our plans, we are working on a plan where in five years time I wouldn't need to be employed if I didn't want to be. Please note that I said employed - I suppose I am going to work till I am able to. We actually know how much we need to have in five years for this to be possible; we just have not gone into the specifics of how to get there (it will have to be a combination between savings, investments of different kind and businesses).

Firewalker

YoungBusinessman

Firewalker wrote: »

Didn't bother with those - used a budgeting tool we developed. Rather different though .

Firewalker

Care to share!? Long term( 5 year ) plan for me is £100k in the bank!

cabriolean

On this page http://www.themoneyprinciple.co.uk/2013/100k-157k-to-zero-in-three-years-flat-we-are-debt-free/ where you tried to censor the numbers, I can read them fairly easily.....
Congrats

YORKSHIRELASS

Congratulations. Havent read your story but I sometimes think the higher income you have the harder it can be to make big cuts because there is more pressure to live a certain lifestyle.

However paying off the debts for me is going to be a slower process because my circumstances mean my opportunities to increase my income are limited. Thats the beauty of this site though, everyone can do something about their debts, just in different ways and there is nothing wrong with that.