From debt to freedom...

savingholmes

Ouch to being unable to read. Not surprised you are struggling after moving. It's a major stressor and it will take some time for things to settle

Honeysucklelou2

Thank you Cherryfudge, SH, Janb5, MeandO, Sashybo & DAL.

Another week has flown by. This week was a challenge as storms had knocked out a broadband cable near work, so it’s been a case of trying to deliver lessons without the computers but also been nice to be screen free for a while!

The cheque cleared on Wednesday so I rang the loan provider and cleared the last part of the first window loan🙂🙂🙂. The best part was contacting the bank to cancel the monthly direct debit! Today is payday so I’ve allocated what I would have spent on the monthly direct debit for that loan and used it to pay off a chunk of the second window loan. I’ve rung the company for an up to date balance this morning and I think I’ll be able to get the loan below £1k by 1st April. The main bigger chunks have been paid now as I have been able to utilise the council tax money this month, but next month that money won’t be there to use.

I’ve also made an overpayment to one of the other debts and sent £30 to the savings account. The debts are going down!  Unbelievably in the letter box yesterday, was a flyer from the company that I had the window loans through, advertising their credit arrangements for home improvements. I wanted to stamp no in big red letters on it. When I think that I have paid a huge amount of interest and if I hadn’t chipped away with the overpayments I’d still be paying it for the next almost 3 years.

janb5

It really gladdens my heart when I read of your amazing work reducing these loans.  Well done!
I`ve had one of those weeks ( known to all of us) when £ goes out in an alarming rate such as a new printer and car service.  Aaaarrgh!
I also have been told not to use substitute cartridges on the printer as it will invalidate the guarantee.  * sigh*
Fortunately for me the printer was installed by the shop as I would have struggled with my inadequate IT skills and fat finger syndrome ( aka arthritis)

Cherryfudge

Fantastic to hear you have cleared the first window loan! It sounds as though it's already having a considerable knock on effect elsewhere, too.
I would be tempted to put the big red 'no' on the flyer anyway, and add 'return to sender' .

Onebrokelady

Well done on the loan, what a lovely feeling 😊

Spendless

Well done on clearing the first window loan. I've been waiting for an update saying it's gone. Woohoo. I think clearing that will be giving you such a boost along with freeing up money towards other things.

I read on another diary the other day a phrase that made me think of you it was 'circumstantial debt' . Your debt has not been because you've had to reign in expensive shopping habits or unwise luxury spends, but because you've been sole provider to a large brood. As your debt goes down, the children will grow older and make more steps to their own financial independence. I can see you being in a really good financial place in a few years time. 

XSpender

Well done on clearing the first window loan 

MeandO

Excellent news on the loan HSL2. Xx

savingholmes

Always great to knock a debt off the list

Drawingaline

Fantastic news about the window loan. Well done on clearing it 🎉