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This is it *ping* lightbulb!!!

edited 30 November -1 at 12:00AM in Debt Free Diaries
1.3K replies 131.9K views
kindofagilrkindofagilr Forumite
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edited 30 November -1 at 12:00AM in Debt Free Diaries
Hi all

Been a member of this forum for a while, I thought I had had my lighbulb moment in the past but clearly I had not!!!

We (OH and I) have nearly 44k of debt not inc our mortgage :eek:

We have two gorgeous little ones and I am sick of having no money for them to do things (son is old enough to start swimming lessons now and I really want him to be able to do things like that)

We were all depressed about the figure and wondering how on earth we were going to pay it off, thinking it was going to take 10 years +

I spent all of yesterday ringing the credit card companies and getting the APRs for my accounts, then we snowballed it
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And to my MASSIVE suprise, if we can scrape even just £20 from somewhere in the budget and snowball the way the calc tells us we will be debt free in 4.5 years!!!! :T:T:T:T:T

That has made me and OH feel even more positive about it all!

I will try and not bore you all with my diary ... but it prob will be lol

We sent some things to music magpie yesterday, they said they will pay £62 for them, now I just hope they pass their checks and we get the £62 (they should do)

And we have some things on ebay due to end in 6 days.

Heres to being debt free :)
Current Debt £35,550.72/£44,856.56 ~ 31/01/20 - 20.74% Paid Off
Mortgage (Start Date 01/04/09 ~ 30 year term, due to end 01/07/39)
£79,446.56/£104,409.00 (as of 31/01/20) ~ 23.90% Paid Off

POAMAYC 2020 #87 £1194.38 ~
POAMAYC 2019 #87 £10,615.18 ~ POAMAYC 2018 #87 £13,912.57 ~ POAMAYC 2017 #87 £10,380.18 ~ POAMAYC 2016 #87 £7454.80

~ Emergency Savings: £0

My Debt Free Diary (Link)
«134567126

Replies

  • kindofagilrkindofagilr Forumite
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    Part of the Furniture 1,000 Posts
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    Yay one bid on one of our ebay listings so thats £25 for sure :) (as long as they pay lol)
    Current Debt £35,550.72/£44,856.56 ~ 31/01/20 - 20.74% Paid Off
    Mortgage (Start Date 01/04/09 ~ 30 year term, due to end 01/07/39)
    £79,446.56/£104,409.00 (as of 31/01/20) ~ 23.90% Paid Off

    POAMAYC 2020 #87 £1194.38 ~
    POAMAYC 2019 #87 £10,615.18 ~ POAMAYC 2018 #87 £13,912.57 ~ POAMAYC 2017 #87 £10,380.18 ~ POAMAYC 2016 #87 £7454.80

    ~ Emergency Savings: £0

    My Debt Free Diary (Link)
  • kindofagilrkindofagilr Forumite
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    Part of the Furniture 1,000 Posts
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    Just checked ebay again, and we have a bid on another item for £70 yay so happy.

    That has cheered me up, I suddenly came down in a cloud of sadness as I was leaving work today and was crying on the way home, I think although I am motivated to do this, it's still very daunting :(

    But we will get there we are determined xx
    Current Debt £35,550.72/£44,856.56 ~ 31/01/20 - 20.74% Paid Off
    Mortgage (Start Date 01/04/09 ~ 30 year term, due to end 01/07/39)
    £79,446.56/£104,409.00 (as of 31/01/20) ~ 23.90% Paid Off

    POAMAYC 2020 #87 £1194.38 ~
    POAMAYC 2019 #87 £10,615.18 ~ POAMAYC 2018 #87 £13,912.57 ~ POAMAYC 2017 #87 £10,380.18 ~ POAMAYC 2016 #87 £7454.80

    ~ Emergency Savings: £0

    My Debt Free Diary (Link)
  • dawnybabesdawnybabes Forumite
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    Small steps, day by day. You are bound to have bad days xx
    Sealed pot challenge 822

    Jan - £176.66 :j
  • kindofagilrkindofagilr Forumite
    6.8K posts
    Part of the Furniture 1,000 Posts
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    Thank you :)

    I feel a bit better today thanks. You are right small steps, slow and steady wins the race.

    Dying to know if Music Magpie are going to give me the full £62 (heard horror stories that sometimes they dont give you the full amount) but so far they havent received the items (we do have receipts from collect plus for them tho) xx
    Current Debt £35,550.72/£44,856.56 ~ 31/01/20 - 20.74% Paid Off
    Mortgage (Start Date 01/04/09 ~ 30 year term, due to end 01/07/39)
    £79,446.56/£104,409.00 (as of 31/01/20) ~ 23.90% Paid Off

    POAMAYC 2020 #87 £1194.38 ~
    POAMAYC 2019 #87 £10,615.18 ~ POAMAYC 2018 #87 £13,912.57 ~ POAMAYC 2017 #87 £10,380.18 ~ POAMAYC 2016 #87 £7454.80

    ~ Emergency Savings: £0

    My Debt Free Diary (Link)
  • RainbowBridgeReturnsRainbowBridgeReturns Forumite
    408 posts
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    Debt free in 4.5 years is phenomenal. Don't take your eyes of that prize!

    I think we all need to find ways of making this journey enjoyable, if we are going to stick at it for the long haul. That is not the same for everybody, different things float different boats, but find what keeps you happy and sane, and enjoy it, in moderation of course !!

    You can do it xx.
    "I wondered why the Frisbee was getting bigger, and then it hit me". £9/£250
    Project Peacock - 2/33 - 1lb/7lb target.
    £6.00 a day challenge £118.77/£170
    Mtge debt includes car purchase - £46,381/ now £44,336 - Paid 4.4%
    Emergency Savings 550.00/£1000
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • CAFCGirlCAFCGirl Forumite
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    Firstly you should give yourself a MASSIVE pat on the back for being proactive to even just think about this, and then for ringing up, making the concise effort to even snowball, and then for building your resolve to do it!

    You can do it, and you will do it :) I have the greatest of faith in you.

    Fingers crossed for Music Magpie, and your ebay items xx
    One income, home educating family life
    Fashion On The Ration Coupons 2019 46\66 Excess Spent 28/2/2020
    Fashion On The Ration Coupons 2020 24/66
  • AvogirlyAvogirly Forumite
    751 posts
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    Well done you! Keep going with the diary, it's the tough times when you will need it the most. I'm here if you ever need a chat, remember you are not alone in this battle. :D

    *SUBSCRIBED*
    October make £10/day currently £11.02
  • jwiljwil Forumite
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    Good luck :)
    "If you can dream it, you can do it". Walt Disney
  • kindofagilrkindofagilr Forumite
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    Thank you everyone for your replies, makes me smile :)

    Yes you are def right RBR 4.5 years is great, I really thought it would be longer than that and was very plesantly suprised when it snowballed and gave us that time frame :)

    I am very much a "need a visual" type person, so I have decided to use my spare A4 notebook I have kicking around, to use a page for a month, and list each debt on it, how much I have paid, and then when the statement comes in the current balance, also listing any overpayments I make, I will also use it to keep track of petrol and shopping for each month (which I was thinking might help me see a pattern if we spend more on certain months, I imagine we spend more on petrol in the summer as we probably go out and about a lot more) Then will have total debt and total paid at the bottom of each page, I think it will help me see how well we are doing in getting it paid off and will spur me on more.

    Thanks for reading :) xx
    Current Debt £35,550.72/£44,856.56 ~ 31/01/20 - 20.74% Paid Off
    Mortgage (Start Date 01/04/09 ~ 30 year term, due to end 01/07/39)
    £79,446.56/£104,409.00 (as of 31/01/20) ~ 23.90% Paid Off

    POAMAYC 2020 #87 £1194.38 ~
    POAMAYC 2019 #87 £10,615.18 ~ POAMAYC 2018 #87 £13,912.57 ~ POAMAYC 2017 #87 £10,380.18 ~ POAMAYC 2016 #87 £7454.80

    ~ Emergency Savings: £0

    My Debt Free Diary (Link)
  • National_DebtlineNational_Debtline Organisation Representatives - Private Messages may not be monitored
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    Good luck in your quest!

    - David.
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
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