Debt Free at last - Thanks NSK

stoplurking

:T Finally got my DFD today:T:T:T:T

Had my LBM in October 2012 and I cannot recall how or why,but I ended up looking at this site. One of the first diaries I read was TheUltimate Challenge, by NinjaSavingKat. For some reason her personal challenges really struck a chord with me and I decided to knuckle down and try to clear the cc debts I had as per my signature, to be updated inj a minute. I didn’t live a high life on credit, it really grew following a marital breakdown where I walked away with just a single bed and small sofa, and two young children to house, feed and clothe. These CCs had been hanging around for years, never missed a payment, tried to pay a few £££ off as and when but not making anyreal effort to clear, because I didn’t think I ever could. In fact, I was resigned to having to pay them off with a lump sum I was due to receive from a pension fund in 2018.

At the time, a realistic DFD for me was April 2015. I was delighted with that as it was a full 3 years earlier than anticipated.

Over the next few months, reading her diary and many other DFW diaries, I started to really look at my expenditure and try to find ways to cut back. I knew a car lease was due to finish March 13, so planned to add thecash from that to my existing CC payments,reduced the Sky package for TV/phone/BB from £77(!!!) a month to £27 – still too much for their dodgy BB. Was ‘budgeting’ £90 a week for groceries ( thereare only 2 adults to feed) and this has been cut back to £50 a week by mealplanning, using up stores and dropping just a few branded products. We still eat very well, if not better, than before, and spend less time wandering around the shop looking for inspiration. I was always a fan of cooking from scratch and ‘eatone/freeze one’ but have been doing a lot more of that, and the meal plan is done monthly but has flexibility built in so we can swap and change if we feel like it. Hanging around on the Old Style boards really helped with ideas for cutting back the spends on groceries and cleaning stuff, thanks for that OSers.:beer:



My small pay rise was added to the monthly CC payments.Basically, every spare penny I had was earmarked for the cards.

I also got a payment for some company shares I was buying through a share plan, they did really well and I was brave and used the whole lot toclear CC3 as soon as I received it. It was hard, as the money would have paid for a lovely holiday with plenty left over. Anyway, we have not had a holiday this year,but have enjoyed our trips and family visits in UK very much.

My OH has been a real star :A in encouraging me to stick to a very rigid budget and even though he didn’t need to watch the pennies, he has helped me every step of the way. Whenever I have been wavering he has stepped in with how proud he is of what I’ve achieved so far, and how much better things will be once I no longer have these debts hanging over me. We keep our finances separate as the house and bills are all in my name, my OH pays for the groceries and the phones, which I am happy with. We have only been living together 2 years and all the debt was run up before we got together.

We now budget for everything, including the car expenses which I always thought was a great idea but never actually did it. This year we paid the year’s car tax and insurance out of the car budget for the first timeever. In the past I have had to do the tax 6 months at a time, and pay monthly for the insurance which of course costs more. The car money and grocery money is put aside at the start of the month so there is never a time when there is no money for food/petrol etc.

I created a basic spreadsheet to help keep track of balances, dates statements were produced and what payment I had made. Like a few other people I have read about on this board, I would find myself staring at it willing my outstanding amounts to go down, and had colour charts where I filled in a square for every 1% paid off! It was good to see those squares filling up. I also set myself interim targets to have x% paid off by x date.Luckily I did manage to meet/exceed these targets.

I no longer carry cash around with me as a matter of course, as I was prone to spending on magazines and other non-essentials. For the first few months I didn’t even carry my debit card around with me in case I was tempted. Plus I used to‘forget’ I had used it so my bankbalance was always a bit of a mystery, until the last week of the month when Iwould be trying to eke out the last few pounds till pay day. I actually still sometimes forget I have used it but hardly ever go near the shops apart from groceries so it is quite rare now.

I started to bring my DFD forward and am now debt free Christmas Eve 2013. I still can’t quite believe it myself, but it’s true! I have Christmas all budgeted for, and am ready to start saving for the first time inmy life in 2014. We will also start to have a small ‘entertainment’ budget as we have hardly gone out on our own at all this year. I have 2 grown up children who I hope to beable to save for in case they spring any little surprises eg weddings/babiesetc. And have plans to do some work on the house, but that will come, hopefully I can enjoy a few months’ just seeing how it feels to be debt free! I love to see people who are decades younger than I really get on board with the challenges and have very firm goals for their futures. For the first time I feel as if I am in control of my future.

A few weeks ago I was thrilled to see that NSK had reached her debt-free target. Today I have reached mine and I have to give all creditto NSK and the DFW/Old Style boards for this turnaround in fortunes. I will be keeping an eye on NSK as she starts her next journey, saving for her fantastic travel plans – if anyone can do it, that girl can, she is a true inspiration to me and many, many more on these boards. :T:T:T

All I can say to anyone struggling to get through paying their debts, it is so worth all the sacrifices and although it does seem to really drag at times, you will reach your goal in the end. Keep using this site and the DFW board, as the help and encouragement on there is amazing. I didn’t post very often as I didn’t think my journey was very interesting but was an avid lurker and it really helped me to keep on trackwhen I was feeling despondent.

Thanks to everyone on these boards for the inspiration, determination and the laughs along the way. Anyone who isfacing a battle to clear their debts, please do keep plugging away at it and eventually you WILL get there. Sorry it’s such a long post, and the font size looks odd so I hope it's not too large. . x

Eyes_wide_open

Couldn't read and run as your post is so inspirational.

A massive well done and huge achievement.

You should be incredibly proud of yourself.

Wishing you a fantastic 2014 x

Doodles1971

Huge congratulations what a brilliant post.

Well done on changing things round.

Enjoying_life_more

This is a very inspiring post - well done - you have done amazingly well and I hope to follow in your footsteps!! It's great to read the happy endings - really motivating thank you:j

Newyorkdreams

You are such an inspiration to me, well done on your achievement, you should be super proud!!!

And your partner sounds amazing, what a lovely support.

Enjoy the next stage in your life!

NYD xxx

stoplurking

Thanks for the replies and good wishes. I hope you all meet your goals and wish you all the best for 2014.
I think I should have put that first post in DFW board as it is not going to be a diary, accidentally ended up in diaries. Never mind, the main thing was to acknowledge the fantastic support on this site. X

Fliparoo

Great post - Congratulations! I wish you all the best for 2014

apple_muncher

WELL DONE stoplurking from anothrr NSK fan!

Hope you enjoy the freedom of debt-freeness - what a perfect time of year to have achieved it :T:T:T

NinjaSavingKat

WOWEE!!! What a massive achievement!!! :j:j:j I can't believe you have done this a whole 18 months early!

I am so proud of you **wipes away tears** ... this has got to be one of the best Christmas presents ever... with you and LoveaDove debt free so close together I can't be happier...

Your OH is a credit to you and just think now what you can do with all that money that is NOT going on debt! I think a holiday plan is in order for you both ( only if you pay in cash though...:rotfl:)

You clearly have determination of your own - car paid upfront , Christmas budgeted for AND debt free..

Amazing job! A big well done to you!!!

stewby

Congratulations!! What a brilliant early xmas pressie.
:j

Another one of NSK's disciples here. As others have said an absolutely inspiring post.

Thanks and have a wonderful debtfree Christmas.
:snow_grin