LBM - 1 year on....

~evanesco~

Well all payments for this month have now been made and it's now officially one year since my LBM...:idea:

To be honest, I feel a bit let down by myself, I've paid off £1,726.21, sounds good? No, not to me, that's only £143.85 per month, haven't exactly stretched myself, have I?

I know I'm going to be debt-free in 6 months, that's a 95% certainty, but if I'd have applied true DFW values this year, I could have been DF by now.

Does it usually take this long to settle into a DFW way of life, I've only just managed to get my budget in order and manage my household finances in a DFW way....

We've had a full on budgeting month, this November, and December is going to be the same, normally an opportunity to splurge, but we've set ourself strict limits for everyone and most of the shopping is done. We're going to friends for xmas dinner, we've offered to help with costs, but have been told not to worry, it's their treat. So, I think things will be good again this month. It's been a struggle towards these past couple of weeks, which I wrote about in my DFW Diary, but that's sorted now. How's everyone else getting on?

markrussell78

I've only just started all this dfw milarky, and have a way to go yet. I know I can do this but it just does not seem to happen quick enough. Also starting near to xmas is not helping at all esp with children. I say that you have done well you have taken a decent amount of money off and dealing with the issues. It would be so much easier to stick your head in the sand and ignore it all. We all feel like doing that from time to time i'm sure!
So I say think about what position you will be in this time next year.
Well done!!

Sea78

Hi - yes it really does!

I started on the board over a year and a half ago, but it was only in march this year that it actually all came to a head and I realised I couldn't go on the way I was before - I had been taking bits and pieces of info as it suited me before , but now I know what i need to do to sort it all out!

I think you've done fabulously and remember, don't be hard on yourself - I bet you woul dhave gained a hell of a lot more debt if you'd not had your LBM last year!

Sea xx

~evanesco~

That's very true Sea, and to be honest, I haven't had the most pleasent of years really. We would most definately have had more debt if it wasn't for LBM. We have added to it throughout the year, and have now resolved to not add anymore, else it will just exteend our DFD. We've got some things on BNPL Sept 08, by which time we will be DF and pay them off in a chunk, instead of installments, I can honestly say I'm looking forward to next year. I should give myself a break, that's true, and I will, thanks.

hypno06

Hi evanesco!!

Remember that this is a journey for life, so with small steps you are more likely to stay headed in the right direction.

You are doing well, as you said you would have increased your debt in a normal "bad" year. As it is, you have ended the year with less debt than you started with, despite the difficulties.

Keep going, you are getting there x

Gemmzie

Sometimes it's the attitude not the amount. Learning to budget comfortably makes you less likely to get back into debt later. No sweat

Quincifer

I agree with everyone above, you've done really well to pay off that much even if it doesn't seem like alot to you and you should be proud. It definitely is all about the attitude, you're (hopefully) learning lifelong habits which will benefit you in the future.
x

moanymoany

Once you start living frugally it gets easier as time goes on. I certainly look at life and spending in a totally different way. The OS forum is a great inspiration and I reckon by reading the ideas on there I have saved £100 a month from an already pared down housekeeping budget.

If you've not looked at this forum I strongly recommend it.