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Our Journey to a Debt Free 2016
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Thanks PurpleFairy and DF!
Another £320 paid off today, taking us under the £5k mark! Hurrah! Can't wait for payday to get another big chunk off!
Chilli padded out with plenty of onions and lentils tonight, will hopefully make a batch big enough for plenty to go in the freezer too.Total Starting Debt August 2014- £38,061
Current Debt- £3600
Mortgage Offset Savings- £600
90.5% paid off so far...0 -
Monthly pay went into our account today, so a good chunk whipped over to the CCs! The CC we were focusing on is now GONE!
Just one CC left to get rid of now... £3600 of it.
Feel like we are on the finishing straight now! Over 90% paid off!
Looks as though we will finally be debt-free at some point in July, so it will have taken us almost 2 years to clear everything. 2 years felt like an eternity when we started this journey but wow, the time has flown!!Total Starting Debt August 2014- £38,061
Current Debt- £3600
Mortgage Offset Savings- £600
90.5% paid off so far...0 -
Well done!! What's the plan after you have finished? Xx19/8/19 vs now Current Total debt £14,188 Savings £2757
Overdraft £1600 vs £1050
HSBC1 £1900 vs £3868
HSBC2 £4100 vs £3730
Virgin 1 £3050 vs £2800
House stuff and improvements £4460 Virgin 2 £27400 -
Congrats on the latest card and fingers crossed for July - isn't this year going by soooo quickly?Debt - CCV £3792
CCB £1383 (took a hit for a holiday)
Loan 1 £1787
Loan 2 £1683
Total £8601 Was £393020 -
Thank you both!
The plan once we have finished is to put the money we are currently paying off the debts into our mortgage offset savings account each month Crunch Time. We'd really like to buy a new, nicer, house but the house we rent out currently (that we have the offset savings against) is in negative equity, so the plan is to build up the funds in savings and then decide what to do from there- we'd love to get rid of it and keep our current home to rent but ultimately we'll need to clear the negative equity AND save up a fresh deposit for a new house, so a LOT of saving to do!!
Can't believe how fast this year is going DF, quite scary!Total Starting Debt August 2014- £38,061
Current Debt- £3600
Mortgage Offset Savings- £600
90.5% paid off so far...0 -
Just found your diary and massively impressed by how much debt you've paid off in such a short time! your first post could have been me writing!
Ive just started my own diary. Hopefully it will help us really stay on track. off to read the rest of your diary, i could be a while ...Started Self Managed DMP 10th May 2017.
Working hard to get rid of our debt.0
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