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Light at the end of the tunnel
Rocketlolasaves
Posts: 22 Forumite
Back in march I posted this:
Hi all! I posted on the budgeting forum but was told here was probably best to post:
I've been reading this forum for a while never joined our posted. I'm 23. I have an Iva. I live on my own but have a lodger. 2 cats. I work full time have all my life and as my mother said I've been winging it all my life.
I've got this budget book from paper chase which made
Me realise I am out of control. I don't even know how someone gets paid 1600 and spends 1850 a month? I've took steps to try fix this. Stopped buying wine and smoking as I was spending £200 a month on cigarettes. What worries me is I have no savings. I have this Iva which in all fairness I only pay £70 a month on but how am I still screwed.
I wanted to upload a picture of my march budget my first one for reference but I can't. I just feel stuck. I feel like this is a late night rant but I'm consumed by it.
I just wanted to write to tell people I got focused. I worked harder and saved and after a year of being in an IVA offered a lower settlement and had it accepted. I am officially debt free.
I wanted to post this for those who feel like they can't see that light at the end of the tunnel. I didn't and I've made mistakes but I took a long long look at everything. Looked at how I could do things. I could never budget before. I did and I saved enough to get out of my Iva. I know there are a lot of people in my situation and I just wanted to give a real getting out of that mess story!
Every little helps x
Hi all! I posted on the budgeting forum but was told here was probably best to post:
I've been reading this forum for a while never joined our posted. I'm 23. I have an Iva. I live on my own but have a lodger. 2 cats. I work full time have all my life and as my mother said I've been winging it all my life.
I've got this budget book from paper chase which made
Me realise I am out of control. I don't even know how someone gets paid 1600 and spends 1850 a month? I've took steps to try fix this. Stopped buying wine and smoking as I was spending £200 a month on cigarettes. What worries me is I have no savings. I have this Iva which in all fairness I only pay £70 a month on but how am I still screwed.
I wanted to upload a picture of my march budget my first one for reference but I can't. I just feel stuck. I feel like this is a late night rant but I'm consumed by it.
I just wanted to write to tell people I got focused. I worked harder and saved and after a year of being in an IVA offered a lower settlement and had it accepted. I am officially debt free.
I wanted to post this for those who feel like they can't see that light at the end of the tunnel. I didn't and I've made mistakes but I took a long long look at everything. Looked at how I could do things. I could never budget before. I did and I saved enough to get out of my Iva. I know there are a lot of people in my situation and I just wanted to give a real getting out of that mess story!
Every little helps x
0
Comments
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A really inspirational post Rocket. It feels wonderful to take back control :T.
What are your new goals ? Don't tell me you don't have any
. Finally Debt Free After 34 Years, But Still Need to Live Frugally
Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
EMERGENCY FUND 1 = £50/£5,000. EMERGENCY FUND 2 = £10/£5,000.
CHRISTMAS SAVINGS = £0/£500. SEF = £1,400/£12,000 PREMIUM BONDS ME = £350. PREMIUM BONDS DH = £300.
HOLIDAY MONEY = £0 TIME LEFT TO PAY OFF MORTGAGE = 5 YEARS 1 MONTHS0 -
That's wonderful - well done to you!
Now keep up the great work from those lessons you've learned - continue to budget, continue to question whether you need to spend on a particular thing, and above all address your fears about having no savings.
Remember those feelings that lead you to post on here that first time though - those feelings are the key to not going back there again.🎉 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
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
Hi Rocketlolasaves
Thanks for sharing your story. It's great to hear that as well as being debt-free you now feel more financially savvy.
Dennis
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Well seeing as I managed to save a lump sum quickly and it's all gone on the settlement I'm starting over. My partners buying a house so enough to buy into it at a future date would be great.0
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After seeing a huge savings balance and having I pay it all out to be free I'm now addicted to saving.0
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