Debt free by 40 -- 19 Months and counting

StressedSteph

P.s This Snowball is worked out to include the interest which is something I hadn't bothered with before

wantabetterlife

Wow steph..if you can pull this plan off you are going to feel loaded when the debt is gone!

StressedSteph

wantabetterlife wrote: »

Wow steph..if you can pull this plan off you are going to feel loaded when the debt is gone!

Hi wantabetterlife,


I initially thought, wow just imagine having £1250 spare cash every month. That's £312.50 every WEEK!!.


BUT.......After the debt is gone, I still have a lot of catching up to do.


I follow Dave Ramseys Baby Steps.


So I am currently on Baby Step 2 = Pay off all unsecured Debt.


Baby Step 3 once all the unsecured debt is gone, Then I need to save 3-6 months wages as an emergency fund. This is pretty important as hubby is self-employed Sole trader and our main earner. If he is ever sick or out of work we could sink ridiculously fast.
Would also be nice to say to hubby that he could have a week off once in a while. At the moment if he ever has a day off I go into panic mode .


Even after we have managed to save that fully funded emergency fund, we still have a 2003 old jeep that will desperately need replacing by then, if not before and then I want to hit the mortgage with over-payments.


Hehe think I need to be living as frugally as possible for the next 10 years plus :eek:.


The one BIG difference having no debt will do, is it will take abit of pressure from hubby as if he is ever ill or short of work he won't HAVE to bring in such a high wages to make ends meet.


This why I feel so guilty about the debt as it was mostly me that failed to monitor our spends and it is mostly hubby that gets affected by it with work pressures. Will be such a relief when its gone.


Wow what a ramble from me :rotfl:

SuperAllyB

StressedSteph wrote: »

Not sure what you meant SuperAlley?. did you mean get more childrens clothes from Littlewoods?.

Sorry, i thought the :eek: would make it obvious it was tongue-in-cheek. I know from following your diary that you wouldn't go back down that road.

As a joke, it was probably in bad taste, but it wasn't meant to be.

debtfreewannabe321

Wow ambitious? Yes! BUT I reckon you can do it! You've totally turned everything round from 1/2 diaries ago and I think it's totally doable! *fingers are crossed for lots of spa customers!*

I reckon once you are debt free you won't want to spend all that money on frivolous things anyway! It's nice to have a blow out every now and then as i've done recently but I never spend over what I can afford in any particular month and the CC is being used so I can build up history on it but It's always paid off now in the same month. I think once you've got yourself out of debt the hard way you do everything possible not to go back there

Have a lovely Sunday! xx

dawnybabes

If anyone can, you can, see how far you have come :-)

StressedSteph

SuperAllyB wrote: »

Sorry, i thought the :eek: would make it obvious it was tongue-in-cheek. I know from following your diary that you wouldn't go back down that road.

As a joke, it was probably in bad taste, but it wasn't meant to be.

That's ok SuperAlley, I wasn't completely sure if it was a friendly post or not, so I replied cautiously . Probably didn't help that I had been reading some posts on the DFW boards and some folk are sooo nasty to people that I might have jumped to conclusions with your post.


Its all good. Can't deny I was tempted to get the childrens school uniform on my Next catalogue but I would be sooo upset to see the balance get any worse. I couldn't cope with it.


Keep plodding on xxx

debtfreewannabe321 wrote: »

Wow ambitious? Yes! BUT I reckon you can do it! You've totally turned everything round from 1/2 diaries ago and I think it's totally doable! *fingers are crossed for lots of spa customers!*

I reckon once you are debt free you won't want to spend all that money on frivolous things anyway! It's nice to have a blow out every now and then as i've done recently but I never spend over what I can afford in any particular month and the CC is being used so I can build up history on it but It's always paid off now in the same month. I think once you've got yourself out of debt the hard way you do everything possible not to go back there

Have a lovely Sunday! xx

I think you are right DFW. I might have the odd over spend when the debt is gone, but it will NEVER be enough to mean I have to have credit EVER again.


We have a ride on mower that is on its last legs, and hubby was complaining about it this afternoon. I told him we need to limp it along for just 1 more year and then with one months spare cash we could go out and buy a half decent one to replace it. Just not NOW!!!. :rotfl:

dawnybabes wrote: »

If anyone can, you can, see how far you have come :-)

Aaaaw Thanks Dawn. Not without the help of you wonderful people though . It would be a very long and miserable journey without you guys posting on my diary.


I am utterly convinced that regular posting on an MSE Diary is the secret to getting out of debt. xxx

pennywisepoundstupid

Hi Stressedsteph, I have been catching up on your diary over the past week, well done on everthing you have achieved, you are doing so well and such an amazing lady.

Take care.x.

debtfreewannabe321

Do you know I agree with that last statement. If I hadn't had a diary on here and been around people who were in similar situations I would probably still be in debt right now! So keep posting

shinner

Wow you are so close to being debt free 12 months and you will be free. X