I almost didn't notice....

Giraffeseeker

I haven't been on here for a while, but I do keep a close eye on my debts on a phone app, so I am amazed that I almost didn't notice that on 1st July I had paid off £10K :j and am pretty much 1/4 of the way there!

To those starting out (on a DMP), it is amazing how quickly living without credit becomes "normal".

I have a £200 overdraft - rarely touched and if I go into it, it's less than £10 at the end of the month - and a "bad credit" credit card with a £200 limit - taken out as a requirement to be lead teacher on a school residential trip but never used (actually, I used it once when I filled up with petrol and then realised I'd left my debt card on my PC after a naughty amazon purchase).

My only two lines of credit and I just don't think about using them. And now I have paid off £10K of debt after around 18 months.

I am a single parent of 2 teenage boys and in the time I have been on a DMP I have sent them on every school trip they wanted to, including sending my eldest skiing (paid for over a looong period of time!), they are well dressed and well fed and the house is reasonably well maintained. My boys have learnt with me the value of money and budget for themselves and look for the best value when they want something. We had a family holiday last summer, have enough money for one this summer, and have had a few weekends camping in between(enough to warrant a new tent this year!).

In my "down" days I am cross with myself because without the debts we'd have more disposable income but I am determined to be out of debt by the time my eldest goes to University so I can support him and my goal is for us to have a really nice holiday abroad before he graduates, just the 3 of us, before life takes them away.

Just cannot believe I missed my £10K milestone!

mum2one

Congratualtions on the 10k payments, thats brilliant going, and sounds like the DMP really working for you, I've been on mine since oct last yr, just starting to balance out, like you good and bad days, so weird when I think everything was credit.. x

congpert2

Not my taste but looks well done.

harrys_dad

Well done indeed OP, stories like yours provide hope for those just starting out.

LittleMissDetermined

Very well done, that's a great amount in 18 months! :T

Motoko_2

Congratulations and well done :j:T

Muhren

Congratulations on reaching the 10k milestone tintingirl. I will look out for your further progress as you have a similar amount of debt as I have at the moment. It would be good to see what you are doing to reduce your debt further. All the best and keep it up (and the debt down).

Giraffeseeker

Hi, am bumping this old thread as I have managed to get under the £30k mark - just - and this coincides with paying off over 30% of my debt, so two more milestones which have boosted my efforts.

A couple of tight months ahead with DD1's birthday this month, teacher strike impacting wages next month, and then Xmas, but have a plan to start overpaying the DMP from January. Also have additional work lined up from Feb - June (moderating then examining from home as I am a teacher) which could bring in £3-4k. Apart from ensuring a break with the kids next summer (we camped in Europe this year which was very cost effective) it will go on the debts. Potentially I could be sub-£20k by Christmas 2014 - that's the aim.

I think it'll be tight to get this done and dusted before DS1 goes to Uni, but it is still the target as I want to be able to support him. I am lucky that I can take on additional work as a teacher but the pressure and juggling at certain times of year can be horrible and I've got more additional work this year than ever before so I guess I just need to see how it goes.

Need to update my sig...

strandedinaber

Well done you! That's fantastic

sistafromanothermista

:beer:
Well done tintingirl!
You've done fabulously :j:j

Keep it up and you'll be there in no time at all!

newmum1

Congratulations well done