Debt free before August 2023

savingholmes

Well done Sarah and Poppy. DR talks a lot about living pay check to pay check. It will be nice to have a decent EF - even the £1K we have now feels amazing.

Naomim

Poppy1984 said:

Ah yes it could be so easy to go a bit crazy and buy a load of treats (clothes are my Achilles heel lol) BUT that's what got me into this mess in the first place. Living beyond my means, trying to keep up with the Jones and robbing Peter to pay Paul several times over. I look back now and cannot believe how stupid and irresponsible I was. I think it was a combination of trying to give my son everything he needed, despite being a single parent and I also had a huge loss which I think sent me a bit off the rails. Anyway it is what it is really, I do feel shame about it but I'm sorting it now so what's done is done and I've learnt some massive life lessons along the way which I won't ever forget now. 

Poppy

This is the main thing, you have learnt some life lessons and it's great to know what got you into this mess.

I think we are all guilty of trying to keep up with the Jones' and that was certainly something I did.  Going to work part time after having the kids but still wanting to take them on holiday every year (because I never had holidays as a kid) and saying yes to them for everything because we all want to give our children more than we had.  Then there was my envy of other Mums at school driving their big cars and having their designer clothes and bags.  Took me a long time to realise they are all probably in debt some way, car loans, catalogue debt.  At least I have learnt that my car may be 11 years old but it's mine and I'm happy shopping in supermarkets for clothes.

Naomim

Poppy1984

@Sarahwithlove oh wow that's amazing!!! Well done you what a huge achievement 😁 I bet you can't wait! 

Poppy

Poppy1984

Hello diary 👋 
Just popping on to give a debt total update. My new debt total is £7,166 😁 and I've managed to knock another month off my dfd which is now July 2022 however I'm still aiming to over pay and hopefully be debt free by the end of 2021. 

I have to say now that the figures reducing I feel much more relaxed about it. Obviously it's still quite a high amount BUT compared to where I started it feels much more manageable. I am almost tempted to put the brakes on the overpayments and just let it run it's course until July 2022. However I think psychologically I will feel so much happier once it's fully gone. 

Poppy

Sarahwithlove

I think the feeling of knowing its gone will be worth making the overpayments. 

Naomim

It's great when you see your DFD moving in the right direction. I'd say keep up with the overpayments if you can. 

Brilliant job by the way 👌

Poppy1984

Thanks @Sarahwithlove and @Naomim

Im thrilled that the numbers are going in the right direction, I just need to keep up the momentum 

Poppy

savingholmes

Congratulations. You are doing so well. Keep up the debt repayments. Imagine what it will be like to have that amount of money spare each month to redirect to other things you want to do - once you reach freedom. 

FootyFanDan

Well done Poppy, those figures are amazing! Keep going. It must be such a relief to see the numbers going down. Great news on the DFD moving forward too you are doing so well x

MidsHollie

Well done Poppy, you are doing so well. I’m with you on the feeling anxious about being out of debt! But I keep having to reassure myself that we now know how to prioritise and how to live well within our means. We just need to learn how to be flexible in the future, and I think keeping a goal focussed attitude will be important. 

I think my first spend after beefing up my emergency fund will be fitted wardrobes. Hopefully by Christmas 2022!