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Debt free before August 2023
Comments
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Poppy you have done amazing so far. I know how badly you want to be debt free but as others have said being debt free at the sacrifice of your own sanity is not worth it, think back to when your debt free date was years away
- the work you have done will benefit you for the rest of your life, try not let the extra few months it will take to be debt free get you in a panic. 2 -
I agree with everyone, you have done so well! Circumstances are conspiring against you right now, but you aren’t letting them drag you backwards. It may have slowed you down, but it’s not stopping you and that’s amazing. You should be very proud of yourself.Not all who wander are lost - J.R.R.Tolkien
🌊 A smooth sea never made a skilled sailor 🌊
My WW and friends diary is here 😁 …
https://forums.moneysavingexpert.com/discussion/6259606/must-try-harder/p12 -
I agree you've made stunning progress. It's time to be kind to yourself and take things more slowly if you need to.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.3K Equity 36.55%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £30.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 35.5/£127.5K target 27.8% 14/11/25
(If took bigger lump sum = 62K or 48.6%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5.1K updated 14/11/251 -
Thank you @FootyFanDanFootyFanDan said:Poppy you have done amazing so far. I know how badly you want to be debt free but as others have said being debt free at the sacrifice of your own sanity is not worth it, think back to when your debt free date was years away - the work you have done will benefit you for the rest of your life, try not let the extra few months it will take to be debt free get you in a panic.
I'm going to try really hard not to let it get me stressed. I really hoped I'd be debt free at the end of the year but I know it would be such a stress to try and do that now with the drop in income. It's hard because I just want the debt gone and now that I can see the light at the end of the tunnel I'm getting so impatient.I'll get there though, and February will come around soon enough.Poppy
19-02-18 Total Debt £30,322
17-12-21 I'm Debt Free 🎉🎉🎉🎉1 -
Thank you @WinterWarriorWinterWarrior said:I agree with everyone, you have done so well! Circumstances are conspiring against you right now, but you aren’t letting them drag you backwards. It may have slowed you down, but it’s not stopping you and that’s amazing. You should be very proud of yourself.
it certainly does feel that way at the moment. I guess life's always full of these things I just need to be patient and I'll be free from debt in 4 months 🤞🤞🤞
Poppy 19-02-18 Total Debt £30,322
17-12-21 I'm Debt Free 🎉🎉🎉🎉1 -
Thank you @savingholmessavingholmes said:I agree you've made stunning progress. It's time to be kind to yourself and take things more slowly if you need to.
i know you're right abs I definitely need to take things slower (I just have the voice in the back of my head saying I need to pay it off by the end of the year)
My original debt free date was going to take 7 years, so In February it'll be 4 years I think that's still pretty good going.Poppy19-02-18 Total Debt £30,322
17-12-21 I'm Debt Free 🎉🎉🎉🎉2 -
Knocking 3 years off is amazingAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.3K Equity 36.55%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £30.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 35.5/£127.5K target 27.8% 14/11/25
(If took bigger lump sum = 62K or 48.6%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5.1K updated 14/11/252 -
Quick update, I managed an overpayment, and there is now 3 months remaining of my loan. Up to now my debt free date stands at 17th January 2022, i just can not wait 😁😁😁
Poppy 19-02-18 Total Debt £30,322
17-12-21 I'm Debt Free 🎉🎉🎉🎉3 -
Wow that's a big turnaround sounds amazingAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.3K Equity 36.55%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £30.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 35.5/£127.5K target 27.8% 14/11/25
(If took bigger lump sum = 62K or 48.6%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5.1K updated 14/11/251 -
Thank you @savingholmes I switched bank and got the switch bonus and I had some money saved up for my MOT which thankfully my car passed so I used that plus the bank switch and a bit of money saved from cutting the food budget as an overpayment.What a start to 2022 to become debt free 😁😁😁19-02-18 Total Debt £30,322
17-12-21 I'm Debt Free 🎉🎉🎉🎉1
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