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Hello again!
mizmir
Posts: 3,710 Forumite
Hi everyone -
I was amazed that when I logged in for the first time in a few years I got my 10 year badge! Doesn't seem anything like that!
I became debt free back in 2014 clearing nearly £60K of (joint) debt with a house sale. Since then we have been doing OK - no house but cars paid for etc. and keeping on top of things - until we had a few pretty expensive and painful emergencies last year leaving us with some debt again.
Recently, my partner and I have decided to separate our finances, which is great in that it means I am completely in control of my spending but scary as I am self employed and now completely responsible for making the money I need! My money is variable and comes in daily which makes it a little harder to plan so
I have created a YNAB including goals for future spending needs. I'll have to run that for a month or two before I can see exactly what I have and what I spend - this is the first time in 18 years I have been the only one spending from the account!
So my debt is £6200 on 0% until May 2018 by which time I want to have paid it off. I will be taking my occupational pension early in April next year which will include a lump sum and I want to invest in a small house then - security for later full retirement. I will be able to clear any residual debt then but I would rather pay it off before so I have more for my house!
I am a sole trader and my income is around £1800-2000 a month gross and about £1000-1200 after business expenses, tax etc. Some of my "expenses" are included in those business expenses - e.g. part of my car, phone, internet are business use plus I claim home office against tax.
My current budget allows for £200 a month debt repayment - which is a third of what I need to clear the debt in 10 months. So I will be looking to minimise current expenditure, sell some stuff and increase income - to cover the extra.
So am back here as I know how much the challenges and the support help. Looking forward to catching up - not sure who is still around from 2014 and earlier?
I was amazed that when I logged in for the first time in a few years I got my 10 year badge! Doesn't seem anything like that!
I became debt free back in 2014 clearing nearly £60K of (joint) debt with a house sale. Since then we have been doing OK - no house but cars paid for etc. and keeping on top of things - until we had a few pretty expensive and painful emergencies last year leaving us with some debt again.
Recently, my partner and I have decided to separate our finances, which is great in that it means I am completely in control of my spending but scary as I am self employed and now completely responsible for making the money I need! My money is variable and comes in daily which makes it a little harder to plan so
I have created a YNAB including goals for future spending needs. I'll have to run that for a month or two before I can see exactly what I have and what I spend - this is the first time in 18 years I have been the only one spending from the account!
So my debt is £6200 on 0% until May 2018 by which time I want to have paid it off. I will be taking my occupational pension early in April next year which will include a lump sum and I want to invest in a small house then - security for later full retirement. I will be able to clear any residual debt then but I would rather pay it off before so I have more for my house!
I am a sole trader and my income is around £1800-2000 a month gross and about £1000-1200 after business expenses, tax etc. Some of my "expenses" are included in those business expenses - e.g. part of my car, phone, internet are business use plus I claim home office against tax.
My current budget allows for £200 a month debt repayment - which is a third of what I need to clear the debt in 10 months. So I will be looking to minimise current expenditure, sell some stuff and increase income - to cover the extra.
So am back here as I know how much the challenges and the support help. Looking forward to catching up - not sure who is still around from 2014 and earlier?
0
Comments
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*waves* Helloooo and welcome back!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
Hi mizmir,
Welcome back
0 -
:hello::hello: EssexHebridean!
Congratulations on becoming mortgage free! That is fabulous! :T :beer:0 -
:hello: :hello: Purplemum!0
-
:hello::hello:
Congratulations on becoming mortgage free! That is fabulous! :T :beer:
Thank you! You can imagine how excited we were!
:beer::j:T <-- that's a pretty good representation! :rotfl: 🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
In for a penny.... have just started a new diary. Taking this seriously! https://forums.moneysavingexpert.com/discussion/56894040
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