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My journey to becoming debt free in 2018

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  • System
    System Posts: 178,361 Community Admin
    10,000 Posts Photogenic Name Dropper
    Paid off my o2 contract @ £250.

    Saved £293 in long term considering I’m not using it, so that’s much better.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • System
    System Posts: 178,361 Community Admin
    10,000 Posts Photogenic Name Dropper
    Paid off my remaining debt today, I am officially debt free :-)

    Really happy with myself!
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • Honeysucklelou2
    Honeysucklelou2 Posts: 4,815 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    Congratulations and well done.
    paydbx2025 #26 £890/£5000 . Mortgage start £148k June 23 - now £138k.
    2025 savings challenge £0/£2000     EF £140. Savings 2 £30.00. 17
  • System
    System Posts: 178,361 Community Admin
    10,000 Posts Photogenic Name Dropper
    Thank you!

    Will keep this thread updated as I now want to become better at saving money!
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • beanielou
    beanielou Posts: 95,883 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    Great news for you :)
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • System
    System Posts: 178,361 Community Admin
    10,000 Posts Photogenic Name Dropper
    Thank you very much! Now on to saving as much as I possibly can.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • System
    System Posts: 178,361 Community Admin
    10,000 Posts Photogenic Name Dropper
    As of today, my defaults are all over OVER 3 years old. That means I'm now halfway on my journey to clearing my credit report of all my previous negligence.

    Onwards and upwards from here, here's to the next 3 years!
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • System
    System Posts: 178,361 Community Admin
    10,000 Posts Photogenic Name Dropper
    Hey all, first update in a while BUT I have now saved into the 5 figure territory.

    I've also changed jobs to the job I applied for over a year ago but had to await multiple clearances as it's a government job, but really happy here now, life looks to be improving!

    I was declined a Starling bank account a year ago for all of my unpaid defaults, but hopefully, now they've all been paid off, I will be accepted this Friday when I can re-apply. Here's to hoping!

    Life is looking up, debt free and I never want to be in debt again unless it's a house etc, I'm living a lot better nowadays. Moving money into my Marcus savings tonight!
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • beanielou
    beanielou Posts: 95,883 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    Well done on new job & being debt free :)
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • System
    System Posts: 178,361 Community Admin
    10,000 Posts Photogenic Name Dropper
    So, I stupidly managed to get myself in to debt again, as mentioned previously I pretty much cut my wage in half but didn't cut down my expenditures so it hurt massively.

    I've just paid off this month a total of £2900 of my debt, bringing my total debts (bar my car) to £0.
    • £500 Santander overdraft (was costing me £1 a day!)
    • £250 Halifax overdraft
    • £1250 Capital One Credit card #1
    • £500 Capital One Credit card #2
    • £250 Barclays Credit card
    • £150 PayPal Credit

    I've now done the following:
    Sold my car that was costing me £429.99 a month + insurance, taken the £10,000 positive equity I had from my large deposit and placed it into savings and bought a £140/month new fiesta (trying to live within my new means).

    I refuse to let myself get in that situation again, I said it last time but it's emotionally draining and I know there are people much worse off than me, I really hope you guys stick to your plans and break free from it - it'll all be worth it, trust me.

    We go again at trying to live debt free!
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
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