£50k to zero - made it across the finish line

Sarahwithlove

I agree if it's 0% then keep plodding unless you need to clear it for any reason in future.

remote_control

Congratulations! That counts as being debt free in my book!

One-step-at-a-time

Thanks @remote_control and @Sarahwithlove. I guess plodding was a bit of a silly word as I've only got two (!!!) more payments to make, though I'll only believe it when I see that lovely zero on the card balance

Sarahwithlove

Two more payments isn't much at all. What's your plans once it's paid off? 

One-step-at-a-time

Sarahwithlove said:

Two more payments isn't much at all. What's your plans once it's paid off? 

Additional pension contributions, savings/investments, have mortgage paid off within five years, address a few deferred maintenance projects and allow a little more in the monthly budget in keeping with our target (fairly aggressive) savings rate. Basically work on getting ourselves into a more secure position that affords us more choice than we have had in recent years. It's not going to be a case of a sudden influx of spare cash burning holes in our pockets.

Sarahwithlove

All sounds like good financial planning. 

One-step-at-a-time

The last couple of weeks have been good - my largest outstanding freelance invoice is due to be paid at the end of the month. Final decision on allocating it is £500 off the debt, £300 to savings, the rest to some garden furniture paint, and possibly a night away somewhere for our wedding anniversary (haven't decided about that yet). We also had some quotes for work to be done over the next few months to knock some more deferred maintenance on the head, and they're comfortably within the scope of what we can afford. It's so lovely to be able to get major things sorted without little bits of plastic being involved! Plus I have a £300 job lined up for August. So that's it - with the invoice payment and next payday looming, the debt should be into three figures by early August with one payment to go. 

mark55man

well done, that's great.  just a little warning about the night away some prices seem to be rising quickly so best done earliest

fantastic job on the balance you'll be zooming up through £ zero into the sunny uplands of debt free before you know it

One-step-at-a-time

mark55man said:

well done, that's great.  just a little warning about the night away some prices seem to be rising quickly so best done earliest

Thank you! Something we've done successfully in the past is drive somewhere within a couple of hours of home for the day, have an overnight bag in the car boot, go for a cuppa late afternoon and check laterooms for last minute bargains - if there's nothing available, then we have a nicer evening meal than we would otherwise have sprung for, then go home. Not sure if that's remotely viable in the current climate but it's worked very well on occasion, e.g a nice seafront place in Brighton for less than half the advance booking price

mark55man

very clever - will have to remember that + love Brighton so that would have been fabulous