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Finally Debt Free After 34 Years, But Still Need to Live Frugally

edited 18 November 2017 at 10:49AM in Debt Free Diaries
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  • HairyHandofDartmoorHairyHandofDartmoor Forumite
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    Thanks parsniphead. It's exciting and yet a bit stressful to be so near and yet not quite there :o.

    We've got 8 grand sitting in a savings account waiting to pay off the last two debts, hopefully, and I have to keep checking that it's still there and hasn't mysteriously disappeared :D

    I'm also aware that neither of us has a pension now, so we need to build up some savings for our retirement in about 14 years time. Our mortgage should be paid off in ten years which will save £420 a month, so we could start saving that amount then. If we can raise our income and avoid impulse buys that will help too :o.
    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 = £1,500/£5,000. EMERGENCY FUND 2 = £50/£5,000.
    CHRISTMAS SAVINGS = £144.37/£500
    PREMIUM BONDS ME = £300. PREMIUM BONDS DH = £300
  • UncannyScotUncannyScot Forumite
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    YAY a new diarist, a new friend and fellow traveller :D
    Subscribed too...
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
  • HairyHandofDartmoorHairyHandofDartmoor Forumite
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    Thanks UncannyScot :hello: thanks for subscribing.
    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 = £1,500/£5,000. EMERGENCY FUND 2 = £50/£5,000.
    CHRISTMAS SAVINGS = £144.37/£500
    PREMIUM BONDS ME = £300. PREMIUM BONDS DH = £300
  • Sun_AddictSun_Addict Forumite
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    I miss not having a car for being able to nip out and pick things up and for days out but I don't miss the expense. I don't drive and Mr SA had his licence taken off him because of his brain damage.

    Good luck with achieving your goals this week.
    Virtual Sealed Pot 2020 £448.64
    Emergency Fund £4550/£10,000
  • Seasidegal58Seasidegal58 Forumite
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    Hooray! You've started a diary! :j:j Have subscribed!

    Your first post really resounded with me - all my own mistakes! But I'm so glad you found Stepchange and they helped take away the depression and stress for you both. You seem really focused and I do hope the final creditor accepts your offer once you have the doctor's letter back. What a wonderful Christmas present to see the back of that last debt!

    I'd only add that starting an emergency fund would be a good idea - even if you begin with only a couple of hundred pounds. It'll take the pressure off those annoying "life getting in the way" things like broken cars and washing machines!

    :beer: to your new diary!

    SSG x
    Finally Debt Free! - July 2016 :j:j:j
    Finished Emergency Fund- £10,000 April 2017
    :j:j
    MONTHS TO RETIREMENT: 11
    My diary: “Paid off the £31,000! BUT- still scrimping!”
  • HairyHandofDartmoorHairyHandofDartmoor Forumite
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    Having a car is expensive SA, but it does make life more convenient. We didn't have one for three years because our old one died and we couldn't afford to fix it. We were given a car by a kind relative a few months ago, which has been lovely, but I know that we can manage without one if we have to.

    Thanks Seasidegal, it's interesting that my story resonates with you. I feel sick sometimes when I realise how our debts have held us back in life and I'm determined never to fall into that horrible trap again. It's worth sacrificing DH's pension to be free .

    Yes an emergency fund is a big priority with us. We never want to borrow money again, but need an emergency fund as our income can be irregular and as you say important things can stop working.
    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 = £1,500/£5,000. EMERGENCY FUND 2 = £50/£5,000.
    CHRISTMAS SAVINGS = £144.37/£500
    PREMIUM BONDS ME = £300. PREMIUM BONDS DH = £300
  • alibat_2alibat_2 Forumite
    60 posts
    Just like to say good luck, and thanks for your supportive posts on my thread too. Some of what you've written resonates here too. Perhaps I should start a diary?
  • jwiljwil Forumite
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    Happy new diary! :)

    I really hope you get those last F&Fs - what a fantastic Christmas present that would be :T
    "If you can dream it, you can do it". Walt Disney
  • redofromstartredofromstart Forumite
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    Happy new diary!
  • HairyHandofDartmoorHairyHandofDartmoor Forumite
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    Hi alibat, jwil and redofromstart :wave: Thanks for your kind comments. Maybe you should start a diary alibat, it could help you to focus on your daily goals etc.

    Today didn't turn out to be a NSD after all as we ran out of milk (I think they bathe in it!) and the bulb went in the toilet, which isn't good with four men in the house (I stepped in an unpleasant surprise in there in the middle of the night :eek::eek:).

    On the up side I did a You Gov survey and finally posted the electoral registry form that's been hanging around for ages. DH can't find a suit he likes in his size at the moment, so a slight reprieve on that front :D

    Hoping for a NSD tomorrow instead. I'm going to update my signature to show £100 in my emergency fund. I'm hoping to put £100 a month in there until we have £1000.
    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 = £1,500/£5,000. EMERGENCY FUND 2 = £50/£5,000.
    CHRISTMAS SAVINGS = £144.37/£500
    PREMIUM BONDS ME = £300. PREMIUM BONDS DH = £300
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