Advent-ures in the MSE Forum... Our Advent calendar is live, helping you discover a new corner of the community each day. Visit the homepage and scroll down

I am surprised

This morning when I logged on I found a message to say that I had been awarded a new badge......Debt free and proud........:D

For us a consolidation loan worked. We were paying our debts off but the loan enabled us to free up some extra money. I overpaid the loan each month even if it was only a few pounds. I cut up one credit card and only used the other one if I needed the security of the card and it was paid off IN FULL each month. I had also switched some money onto a 0% card which we also paid up early.

We were not as deeply in debt as some people, we did have to make a few economies but on the whole it was not too bad.

However, I realise that a consolidation loan is not the best way for everyone, for us it did work but only because we were strict with ourselves and did not use the credit card unless I needed the security it offers if things go wrong.

You can get there, it can be a rocky journey, but if you keep paying off even a small amount extra its amazing the difference it makes.

Replies

  • eveningonthegroundeveningontheground Forumite
    22 Posts
    First Anniversary
    Forumite
    That's fantastic, well done! As someone at the very beginning of their journey it's so nice to hear from people who've made it out to the other side :D
    CC1: £689.61/£789.61 (started 29/10/18, last updated 31/10/18)
    CC2: £3120.00/£1497.31 (started 29/10/18, last updated 12/11/18)

    NOVEMBER CHALLENGES
    Make Up to £10 a Day November: £125/£200 total
    Bring Lunch to Work November: 7/19 workdays
  • beanieloubeanielou Forumite
    82.2K Posts
    Part of the Furniture 10,000 Posts Mortgage-free Glee! Name Dropper
    Forumite
    Well done :j :j
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    MFW. Finally mortgage free February 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.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
This discussion has been closed.
Latest MSE News and Guides

Is your local HSBC closing?

114 branches to shut in 2023

MSE News

Advent Competitions

The countdown is on

MSE Forum

Baileys £10 for 1L at Tesco

When you scan your Clubcard

MSE Deals