£13125.37 and 357 days to go

DebtFree2012

Hi all


Some will remember my old diary, I've been around for years but lost access for the last year for technical reasons.
Anyway - I'm back and in my final year of countdown. I started with just shy of 40k debt many years ago, built up for all sorts of dumb reasons. I could have paid it off quicker than I have, but I wanted to have a life at the same time and boy am I pleased I chose that. I refuse to let me debt, my mistakes, consume me. I'll be debt free in a year and although I cannot wait, I refuse to wish my life away which I fear some DFW succumb to (their choice, and I am not judging).
Having said this, I like to live a frugal lifestyle where possible and make do and mend. I'm all for the OS ways and methods. I love cooking, free food (foraging), spending time with family and more.
So let the 357 days and £13125.37 commence. Breakdown to follow.

DebtFree2012

First mistake! It's 354 days to go!
So the debt is made up of loans and cards. Cards are on 0% and loans are due to finish March 2018.
Credit card V - £4864
Credit card B - £1528
Loan 1 - £3463
Loan 2 - £3269
From March's pay I made a total payment of an eye watering £1162.69 to the debt (which is reflected above).
April's payment needs to be the same amount too and will be paid at the end of the month.
Future payments will be similar too, so I am very close to the bone every month with that amount coming out before I buy any food etc.
So, bearing in mind I want to have a life and whilst paying debt off, I need to plan this very closely to make sure the kids have plenty of free fun and I still have family time That's free after all!

cazmanian_minx

Happy new diary

enthusiasticsaver

How exciting to be in the final year then that £1k each month will be yours to save or spend as you wish. Do you have a mortgage and if so will you be overpaying on that from next year?

crunch_time

Yay you are back!! Have often wondered how you have been getting on in your new house with all the animals at home. Yay to it being your last year as well!

It's my last year too so we can cheer each other on. Got my debt down to sub £5k at last thanks to some windfalls but have lots of expenses coming up so will probably take the rest of the year to clear being honest.

Happy new diary - very pleased you are back!!

Crunch xx

[Deleted User]

Great to see you back. I remember your old diary and have often wondered how you were getting on. Hope you, your family and the animals are all ok x

DebtFree2012

How lovely thank you. It's amazing in the new house, exactly what we hoped it would be, including hard work too! Every day is a blessing.
Once the debt is gone, I have plans on what we will use the money for but it won't be to overpay the mortgage just yet. There's plenty of things we need to do to bring the house to modern day standards (it's lovely, just dated in areas) so I plan on getting that done and then more. Of course I have a new 5 year plan!! Hopefully it'll take less time than paying the debt off has (my user name shows when I first hoped to be debt free !!)
I'm lucky to have a well paid job at the moment so it's all hands on deck to spend the 351 days
clearing it
In the mean time, it's back to basics and reducing grocery bills not no more than they need to be whilst still eating well, keeping outgoings to a minimum, upping income etc etc.
I hope everyone who used to follow my journey is well and welcome new people
New total after some payments have cleared:
£12899
Happy Friday eve!

[Deleted User]

I am in the last 3 months of paying off a debt.......I cannot wait £800 a month in my pocket. Some to save and some to enjoy ourselves with.

Well done to stick to your guns and pay the debt off gradually and still being able to enjoy your family.

DebtFree2012

Thank you Wow 3 months to go - that will be me at Christmas time - I can't wait!

DebtFree2012

Barclaycard is due to be taken shortly, so I will have an update then. It will reduce by £120 or so then that will be it until the end of the month when it all starts again!

DebtFree2012

New totals are in:
£11 642


Next month I will be sub 10k and really feel on the home run then.