Autumn years debt fighting

Enjoying_life_more

Crikey can’t believe another year has gone by !  Here’s a long overdue update. - my total debt including morg is now 68,441.  I’m happy with the reduction from last year.  I’m still working part time for the same organisation but in a slightly different role. The pay is more due to the amount of unsocial hours I work and I’m enjoying it. The downside to this role is it’s only a temp contract which i knew when I took the role. I am hopeful that the temp contract will be renewed.

Budget wise I’m doing ok - I budget for absolutely everything and have a yearly, monthly and weekly budgeting system. I’ve had to increase the amounts for a lot of things this new year and it’s quite frightening how much bills and food are rocketing  I’ve always been quite frugal with food shopping but it’s so much harder now. It was interesting reading jack monroes articles on the cost of inflation. A real eye opener.  

Life wise - I’m still happily single with a good circle of friends and close family.  I try and look after my health and get out walking when I can.

I keep popping on here to see how everyone is doing and it’s nice to see people supporting each other to reach their goals.  I must try and update more often !

Enjoying_life_more

Long overdue update again!  Lost passwords and had problems resetting it. I’ve still been on here reading diaries

Financially I’m in a much better position than last time I updated. I’ve managed to reduce my mortgage and debts total to 20400 and hoping to pay that off soon. It does mean taking from my pension pot to do this but I’d rather do that and keep working longer

I have been fortunate in getting some full and final settlements on my debts and this has helped massively 

im still working, I now have a permanent contract again with the same organisation doing shift work with overtime if I want it - while I’m fit and able I like to do some when I have the time.  Like most people my bills have increased significantly especially energy and food.  I stick to my budgets and get by ok whilst still enjoying a good social life and saving too.  

Enjoying_life_more

A very pleasing update - after ten years on this site I am now mortgage free and have under 10,000 of debt left to pay which will hopefully be paid off in the near future.  This site and the diaries on here have been a massive inspiration to me.  I have had to access personal pension to help me settle my mortgage -  the rising interest rates helped me to make the decision to do so.  

I’m still working and will have to carry on for a few more years - luckily I’m fairly happy in my work although I would like to cut my hours a little bit more but I’ll carry on as I am for as long as I can 

Since joining the site I have stuck to budgets - a realistic SOA right at the start enabled me to do this - I now am fully on board in the mindset of living within my means.  I have savings too !

Doris17

Congratulation on paying off your mortgage, reducing your debt and having savings. 

[Deleted User]

This is positive news. How is your pension provision looking for when you do retire? Have you checked your state pension forecast? Best wishes.

Enjoying_life_more

[Deleted User] said:

This is positive news. How is your pension provision looking for when you do retire? Have you checked your state pension forecast? Best wishes.

Thanks for posting - I will have a small DB pension from my current job. Some private DC pension and I will have a full state pension - I’ve already reached the necessary contributions to this.  When I add them all up it will be enough to live on but I will need extra for hols, trips etc which I am currently saving for 

Enjoying_life_more

Just looking back on my first diary - in 2015 I fixed my mortgage at 2.04 percent and my food budget was 23 pound a week - how things change ! 

[Deleted User]

Will your DB pension come with a lump sum? Good be a useful back up in retirement.

Enjoying_life_more

[Deleted User] said:

Will your DB pension come with a lump sum? Good be a useful back up in retirement.

Yes I get a lump sum but I’m going with smaller lump sum and more pension I think. It won’t be a big pension as I will only have about 9 years in it but it will help