the very long but happy road to being debt free

Hi everyone I used to have a diary on here a long time agobut stopped coming on here and now I feel it’s time to start again so I reallyhope no-one minds yet another diary.

Last week I found my diary from 2009 and I was devastated tofind that my debt has almost doubled since then however I am definitely happierthan I was. Back then I was 23, I lived at home with my parents, worked parttime and went to college. I had no idea what I wanted to from life and seemedto think that if I had the next big thing I would be happy. I was also buyingmy friends as well and was forever taking them places and buying them things. Iam now 27 and at university 100 miles away from home doing something that Ilove. I currently share a flat (which I HATE) and can honestly count the numberof friends I have on one hand and still have fingers left. I live a more simpleand easy life and I have never been happier.

I have not been working for a few months now however that isgoing to change in a couple of weeks and I am also moving into my own flat inJune so things are changing on the money front and I thought a diary would helpme keep on track.

I have spent a very long time thinking about why I got intodebt in the first place and now that I am aware where I have gone wrong I feelthat I can move on. My biggest mistake was setting unrealistic goals for myselfwhich I was never going to meet, then when the inevitable happened I would undoall the good work I had managed to do and then some. Therefore my main aim forthe time being is to not get into any more debt and learn to live within mymeans.

My realistic aim is to be debt free by 40. I am currently 27and will graduate just before I turn 31. I know this may look like I’m being lazybut I need to do this in order to stick with it.



  • I also thought very very long and hard about coming to universitywhilst I had so much debt however the way I see it now is that four years ofpaying a tiny amount towards my debt will allow me to be able to pay much muchmore off when I graduate and have a job. I will appreciate any positivecomments or suggestions however please do not be mean to me as it has been verydifficult for me to come on here and explain myself. Thank you.


  • Ok, so money……..!

    My previous diary states my debt was £18,412.30 and is now£30,649.57.

    I have 5 debts which I have set up repayment plans with eachcompany £5 each (£10 to Tesco loan)

    · Halifax loan - £11,996.16

    · Halifax credit card - £2,080

    · Halifax overdraft - £3,039.64

    · Santander overdraft - £3,051.47

    · Tesco loan - £10,482.30

    At the moment I don’t pay any interest etc however I’m notsure how long this will last.

    I’m off to bed now but tomorrow I will post about my incomeand outgoings.

  • beanieloubeanielou Forumite
    82.9K Posts
    Part of the Furniture 10,000 Posts Mortgage-free Glee! Name Dropper
    Happy shiney new diary :)
    Keep posting!
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    MFW. Finally mortgage free February 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
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