SouthernGuy's Debt Free Journey

SouthernGuy

Evening all and happy FRIDAY!!!

Today was pay day and I have just got off the phone to my loan provider after paying it off in full :j :j :beer: :T

I'm soo happy as this means I'm now down to just my two credit cards :T

Tonight I'm off out for a pre arranged curry with friends which in my head I shall use as a pat on the back

I'm also extra happy as I've booked Tuesday and Wednesday off work so I'm now not in til Thursday. I just have to be careful not to spend too much.

Have a great weekend everyone and thanks for the support.



PS. I've just noticed my debt is now under £7k

SouthernGuy

Afternoon all,

Just thought I'd check in whilst I await the arrival of family coming to stay for the weekend to see my new house

Feeling a bit weird today, Although I know I've paid my loan off, the payment hasn't shown on my online banking yet and I don't have online ability to see my loan account. Obviously the money won't show as having been paid from my account until at least Tuesday because of the bank holiday. I think I'll feel better when I see it has gone.

At the moment I'm in a good financial position to be able to pay off a large chunk off debt each month (unless of unexpected expenses) whilst having the odd treat.

The gremlins are lurking in the back of my mind though as I really want a new car (used). TBH I've wanted one for the last six months but have been strong and resisted. The wanting became more so last night when my friend rocked up in his new motor.. Still, I will stay strong and hopefully my patience will pay off. I don't need a new car at the moment, just want one.

Have a good day everyone

Ali-OK

Well done on paying off that loan. It's a bit in limboland when you know the money has gone to it but it doesn't show as clear yet. Roll on Tuesday for that one!

Cars are a bottomless pit, depreciation aside...I know, having *fingers crossed* got a buyer for my *cough* weekend toy *cough* - that should be gone next week and then I'll be paying my remaining debt off. So stay strong on that one and enjoy being passenger in your friends without the cost of owning it

Have a great time hosting the family.

SouthernGuy

Evening all,

What a nice relaxing bank holiday weekend it's been. Loved having the family over and they liked my new house which is good.

Today I've had a nice relaxing day. I've started the VW Lego Campervan I got for my birthday, it's been a while since I last played with lego!!

I've also started thinking ahead to being Debt free in the hopefully not too distant future.
I think my plan after clearing my debts is to save a £2000 - £3000 emergency fund up as quickly as possible to give me a nice buffer in case the brown stuff hits the air con! after my last debt payment I shall use all new monthly disposable income to build that asap.

After that I plan to maybe switch to First Direct for my current account (although I've heard bad things about their online banking facility) to get the 6% regular saving account and then pay in £300 per month. either that or open a cash ISA (whatever works out best) to save for big purchases. I'd also like to pay an overpayment of £100 per month to my mortgage but we'll have to see nearer the time how things are going.

I have to admit that I am missing the 'high' feeling I get from paying down debt as I feared I would when I paid the loan off. Hopefully tomorrow I'll see the transaction appear in my online banking showing my final loan payment. I won't get a letter stating the loan has been paid off until June (that's what the call operator said on Friday). It doesn't help that I chose to pay it off on the eve of a bank holiday weekend so transactions don't get updated, in hindsight I should have paid it off tomorrow so that it would show Weds, never mind! ahh I'm waffling!

Hope everyone is ok. I'm lucky enough to have tomorrow and Weds off work and at the moment have no plans so will hopefully be able to fill them productively.

Catch you guys later, thanks for reading.

SouthernGuy

Morning all, Just a quick update to say that I've logged into online banking this morning and the loan payment is showing

Also, the £60 dd payment to CC2 has gone out so has reduced that balance a bit. So nice to see the balances fall

wannabe_credit_free

Your doing great. You will be debt free before you know it..:j

tootallulah

I bank with FD and find them brilliant and the on-line banking is simple and clear. Many congratulations on clearing the loan. You are doing really well.

SouthernGuy

Thanks for the comments guys, and for the feedback about FD.

Well I've been using my day productively. I have finally seen sense and decided to sell my fruit machine that I had in my man cave of my old house! Unfortunately I don't currently have a man cave and it doesn't go as well in the dining room haha. I've listed it on local selling pages so hopefully that will go soon and give me some dosh.

Calling14

Doing brilliantly, I hopefully get under 7k mark next week so hot on your heels:T

SouthernGuy

Calling14 wrote: »

Doing brilliantly, I hopefully get under 7k mark next week so hot on your heels:T

Thanks, I have completely managed to change my mindset. Now when I'm feeling down instead of buying things to cheer me up I have a look at how I can save money/pay off debt. I'm lucky that I have a good wage so once I'd had my LBM I was able to stop frittering away money and am in a position to clear a big amount of debt each month. I really dislike my job but it pays the bills well. I am keeping my eyes open for other jobs though as I believe it's the cause of my unhappiness.

I had a chat to my wife last night to update her on my progress. She knew I was actively trying to pay off my debts but she wasn't aware of how well I was doing as I don't like to talk about it accept on here. She said she's really proud of me and that made me feel great!

I look forward to hearing you've gone under 7k, it really is a good feeling.