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36K debt - Operation debt-bust!

autumn2012_2
autumn2012_2 Posts: 223 Forumite
in Debt free diaries
Hi everybody,

I have been struggling with debt now since 2013! After numerous changes in circumstances including illness, jobs, 2 kids, getting married and buying a house we are in 36K of debt. We have recently re-financed to lower our monthly output but obviously over a longer period. Debt free date at the minute is 01/02/2023 - Im hoping to overpay on the debt to get this down to 01/12/2020. I have had my LBM and me and hubby are both fully on board with the debt-busting!

Wish me luck as Im going to need it! :-) x
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Comments

  • redofromstart
    redofromstart Posts: 6,243 Forumite
    Eighth Anniversary 1,000 Posts Photogenic Name Dropper
    Hi Autumn - came to say good luck with your journey.
    My mortgage free diary: +++ Divide by Cucumber Error.  Please reinstall universe and reboot+++

    GNU Mr Redo

  • HairyHandofDartmoor
    HairyHandofDartmoor Posts: 13,960 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Good luck with your debt busting :)
    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 MONTHS
  • pennywisepoundstupid
    pennywisepoundstupid Posts: 6,281 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Good luck with your debt busting journey.
  • WannabeFree
    WannabeFree Posts: 4,438 Forumite
    1,000 Posts Fourth Anniversary Name Dropper Photogenic
    Good luck :D x
    “Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the way.”
  • autumn2012_2
    autumn2012_2 Posts: 223 Forumite
    Thanks guys! De-cluttering so sold some stuff which has been paid straight off the debt! Only a few hundred pounds but feels good to have it paid! I haven't gone over-board with xmas this year. £80 spent on hubby instead of the usual 200-300 hundred. 2 kids £200 and around £100 on everybody else. Just little token gifts but Im not spending money I dont have anymore!
  • Cherryfudge
    Cherryfudge Posts: 15,170 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Well done for not going mad with the gifts! Hope you have a lovely Christmas and that the coming year sees that debt shrink beautifully.
    I think a bit of sunshine is good for frugal living. (Cranky40)
    The sun's been out and I think I’m solar powered (Onebrokelady)

    Fashion on the Ration 2025: Fabric 2, men's socks 3, Duvet 7.5, 2 t-shirts 10, men's socks 3, uniform top 0, hat 0, shoes 5 = 30.5/68
    2024: Trainers 5, dress 7, slippers 5, 2 prs socks (gift) 2, 3 prs white socks 3, t-shirts x 2 10, 6 prs socks: mostly gifts 6, duvet set 7.5 = 45.5/68 coupons
    20.5 coupons used in 2020. 62.5 used in 2021. 94.5 remaining as of 21/3/22
  • pennywisepoundstupid
    pennywisepoundstupid Posts: 6,281 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Well done with your Christmas spends, I hope you have a wonderful Christmas.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Second Anniversary
    Good luck !! 😀👍
  • autumn2012_2
    autumn2012_2 Posts: 223 Forumite
    Looking at summer holidays today - Prices for a family of 4 are ridiculous so Im probably going to do the £9.50 sun holidays and go to a local-ish holiday park. Hubby isa matures on the 30th - only £360 but its going straight off the debt! Listed some things on ebay and been advertising my business like mad which has brought in much needed business over the last two weeks! Feeling really positive going into 2018! :-)
  • autumn2012_2
    autumn2012_2 Posts: 223 Forumite
    So its 2018! Really focusing on paying this debt off this year. Hoping to get it down in 25k by Dec. Its do-able and anything over and above is a bonus! Iv started to budget for holidays and christmas so no debt this year for those two. Sold some more stuff so its all gone in a savings account! Feeling positive about this year - its going to be tough going at times but we will get there!
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