Debt free by 43

Lancashirelass1

Hello all
I posted to say I had 30 grand of debt and wanted to be debt free by April 2019.
Not posted much on my journey, but that's due to a number of life changing events such as my dad passing away, a new hobby, a job role change (with a rise) but this whole time I'm constantly still writing in my spend diary, which is on my phone, I took up a new hobby which I enjoy with my daughter and I clean my house when I start feeling urges, which must be a lot, because my house is absolutely spotless!! I have worked on why I spent money too, & the 'why' has been painful but I've worked on this and through this with a counselling service at work and I've worked really hard to get this debt down it's not been easy, but I had amazing advice off people on here and I've really enjoyed this journey, even though its been a challenging time.
Sadly my dad passing away and so young too, brought some money struggles to my mum, so my debts had to wait.
The good news is, from nearly 30 grand, I'm now down to £6,445.00 and that for me is an excellent place to be at, because I will work even harder to clear this and small steps has worked.
I still see a financial advisor (my friend) I've had spreadsheets coming out of everywhere but I never thought I would achieve this.
My credit rating has gone from very poor, my score was terrible today its at very good and so I'm very pleased.
So thought I'd share with you all and hope it helps to spur someone on.
Spending diary has been my life saver
Asking myself do I need it, want it.
Can I afford it, answer is no, and I put it towards my debts.
Any small change I pay it towards my credit card
I tackled the biggest costing debt first, not the biggest costing Apr.
This then allowed more to put to the smallest debts.
My biggest spend since starting this has been my hobby of ballroom dance shoes, and I buy a nice bath oil.
I decided I had an issue of spending, nothing to show from it, loads of clutter and just feeling anxious all the time, so I got help, admitted I had a few issues and worked on it.
I do not buy anything else.
I went a whole year of not buying clothes only what I needed.
I sold what I didn't need
I have started to use a slow cooker
I shop at aldi
I got a casual part time job at night and weekend and this helped me....i work two shifts a week.
I'm going to start logging in to put in my odd payments on here and start working on the rest now!!
Thank you
LL.

D_M_E

Hello and welcome back.

Sad news about your dad, but what a positive inspirational post you have made.

Keep up the good work and you'll soon be free of the millstone of debt which you have carried for so long.

Seems you have two new hobbies - the second one is cleaning! Still, it's better than, as you say, spending on something you don't need or will never use.

I agree:

Don't need it, don't buy it.
Will it get used? No, don't buy it.

As for can I afford it - well done for saying NO, a lot of people would simply put it on credit and spend years paying it off, so well done for saying NO.

Lancashirelass1

D_M_E wrote: »

Hello and welcome back.

Sad news about your dad, but what a positive inspirational post you have made.

Keep up the good work and you'll soon be free of the millstone of debt which you have carried for so long.

Seems you have two new hobbies - the second one is cleaning! Still, it's better than, as you say, spending on something you don't need or will never use.

I agree:

Don't need it, don't buy it.
Will it get used? No, don't buy it.

As for can I afford it - well done for saying NO, a lot of people would simply put it on credit and spend years paying it off, so well done for saying NO.

Hello and thank you for your reply.
I'm not sure if I'd put it in the wrong forum part or not. I have to say that since starting this journey, at first I was posting on here and got a massive response which really spurred me on. I did carry this on, I have become quite passionate about saving money to set aside.
I have honestly enjoyed it too. Just setting very short goals, a bit at a time and reading on here.
I think the moment I got the casual job, which fits into my life, I think that's when it really started to pay off at bigger chunks.
Working extra is very hard, I'm tired, I'm a bit boring right now too, I don't go out... But I don't want to either.
Today I paid extra on a credit card, usually I'd have gone out an blown it. So, without this forum, I would be writing this now and I'm extremely grateful for the support and guidance I get.
Thank you again.
Will check in more as I'm paying down this smaller debt!! :T

D_M_E

It's Easter weekend so why not consider venturing out for a little treat - every journey should have time for a break as long as one does not deviate too far from the path to, in your case, freedom.

beanielou

Happy shiny new diary.
Hope the rest of your DF journey goes well

Socajam

Sorry about your Dad, he would be very proud of you.
Well done and congratulations.
Once you are debt free, start a life happens fund and an emergency fund.
Never forget where debt got you and where you never want to return ever again.
Glad to hear that you have learnt what is a "want" and what is a "need".

Lancashirelass1

Hello all,
Just an update, a bit gutted really, but I've not counted up, I can't believe I've done this, so I owe slightly more than I thought. I thought my electricity bill was bang up to date and it isn't, took a meter reading and it turns out it was hugely under estimated..... So after a very nice phone call, I am on a plan.
So I owe an extra chunk. The good news is (touch wood) that I've just paid off a credit card, this has not been easy because I've had to take a part time job.... Im not moaning, I'm actually very very grateful, but I'm soooooo tired.
I just thought when I took it, that although my debts were decreasing, it wasn't fast enough for me, so I got offered a job. Which has helped a lot. It's casual hours but it pays well and I've literally managed house money, and paid down a lot of the debt with the extra, I don't spend it on anything, I just clear the debt, meaning I was able to save on interest.
However, I can't work as much as I'm doing now, it's not healthy, but I'm in a mindset of feeling a little calmer again. I'm still working extra, but working all day in a stressful job to going to the part time job nearly every day is not sustainable and so now I'm feeling a little calmer that I can just work two shifts a week and still pay off the money.
I had a bit of a blow out on my birthday.... But I have not bought hardly anything for a year, I bought things like gorgeous aromatherapy oils for the bath and some skin care and I used my birthday money to pay it.
I felt a bit guilty for doing it too, but I figured I haven't bought anything and I've been trying to work on myself.
The weirdest feeling was I did feel the guilt after and usually I wouldn't have given it a thought, which is what got me into debt in the first place.
Since working on myself, also my dad passing away so young, I figured I don't need "things" and my birthday last week, I was able to use that money, but I felt more in control...if that makes sense.
I've been using PAD for a bit and this has been a bit of fun thing for me instead.
My dad would have been very very proud of me, difficult time to even talk about him, but he asked me this.....
If you found out you were terminal, what would you do with your life, what would you do to spend the time.
My answer was, get out of debt as quickly as I can, not have the extension planned, amongst other things.
His answer was..... Why wait till you were terminal..... So, with that, I now have worked hard to clear the debts, to help my mum too, and focus on important things like my family. Now I'm not feeling stressed I feel I'm in a place of growth and I can tell you, that without the help on here I'm not sure where I'd be... Which I'm not even thinking about either.
So, yes my dad would be so pleased I'm doing what I'd said.
I would have liked to be debt free this year, but I think it's going to be next April now, but that's OK. Any sooner is a bonus, but if I hadn't started this, I would not have had the focus or control, today I do, so it's all good.
I'm working today at my casual job, 5 hours, I'm finishing at 3pm, the chicken is in the slow cooker, the veg has been prepped, I've cleaned and got the week ahead planned.
Working on debts, has also helped in all other areas too...
I can never thank this forum enough for allowing my very long emails, the advice I've had too. I find it hard to admit to friends and family my debts but the emotional stuff, but on here it's great that I can without judgement.
Have a lovely Sunday and a great week.
Xx LL

nsl101

Sounds like your dealing with what life deals you amazingly well, I am just starting my journey really but reading your diary is really helping me keep focused, thanks for sharing...

Lancashirelass1

Thank you for reaching out, it's really not been easy, but if my diary has helped you, then that has made me smile as this site is the only place I can be honest. I think I was just going round in circles before I started in 2017.there was a lot of work to be done on myself too, I literally spent money and never worried or bothered, however, the kick was really that I was paying loads out, with not much to show for it. In fact nothing to show. I was bored, I was lonely too, but equally quite stressed. I've had to do a lot of work on myself. However, now what I do is, focus on myself, my future self. The family holidays I'll be taking. I've had some blips on the way, but it's like anything I've focused again and got back on it.
There is a diary on here called pad, a payment a day, that's been a bit of a focus too. Any spare money is put straight into a debt and you log it. Taking the part time job was also required to pay it down quicker, but that was just sheer luck that I got that. I'm reducing my hours now, but it has helped me.
I have kept a spending diary, this has been my saviour, work out if need or want, it's on my phone now, but use one, but read it, see where the money is going, see what you care most about, which is what you're spending on, mine was material things by the way, my advice is, if you're starting out, be brutally honest with yourself, be honest on here, people on here are amazing.
Ask questions, you will get an answer.
Have blips, theyre ok, just be honest about it.... Get back on the debt recovery road again.
I don't know your situation as everyone are different, respectfully people on here are open to helping each other.
Every situation is personal to each of us.... But we're on here to save money, pay money, deal with debt letters.
Just keep chipping away at it.
Do it for yourself, your future self, and take small steps.
And....... Absolutely well done for starting your journey, once you get into it, take really small steps, you'll be fine. You'll even start to enjoy keeping money in your own pockets and not in the debt companies!!!
I'll check out your diary later, and support/hand hold on the way.
Have a great week!!

Lancashirelass1

Socajam wrote: »

Sorry about your Dad, he would be very proud of you.
Well done and congratulations.
Once you are debt free, start a life happens fund and an emergency fund.
Never forget where debt got you and where you never want to return ever again.
Glad to hear that you have learnt what is a "want" and what is a "need".

hi there and thank you. I have had to set aside some money for Christmas, but yes, I'll set something up for an emergency fund. I do have a 400.00 account.... Its just there, I've never touched, I used it last year for my car service, mot etc, but then put it back. However a good idea and I'll start something soon, not sure how much an emergency fund should be, but once I'm in a place to, I'll have a read on here to find out, however, it could be another goal to keep me going to get an emergency fund.
Thank you

Karonher

Good luck paying off the rest of the money. Most people say to get an emergency fund of £1000 so it will cover household issues that might crop up. It then goes on to 6 months worth of bills, but I imagine that will be when the debt has gone or is all on 0%.