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Debt Free by '23

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  • MidsHollie
    MidsHollie Posts: 292 Forumite
    100 Posts Second Anniversary Name Dropper
    Yes @Sarahwithlove, I definitely could make a veggie chilli and a good few chicken dishes with very little from the shops, which would probably be enough to last me a couple of weeks (with very little variety). Thank you.
    I’ve sent another £350 to the debt today, after sorting out my zero based budget for March. I’ve paid off just shy of 55% of my debt, over £18000 paid, with under £15000 left. It still feels a long way to go, but breaking it down in to three £5000 chunks feels really manageable. I can’t tell you how much I want this debt GONE!!!

    <a rel="nofollow" href="https://forums.moneysavingexpert.com/discussion/6086606/debt-free-by-23/p1">https://forums.moneysavingexpert.com/discussion/6086606/debt-free-by-23/p1</a>

    True LBM, December 2019 = £32934. Current Debt = £12762. 1% Challenge = 61.1%. #51 3-6 Month EF Challenge = £1200/£6000



  • MidsHollie
    MidsHollie Posts: 292 Forumite
    100 Posts Second Anniversary Name Dropper
    I’ve paid another £400 off my debt. 
    Not really sure how I’m doing in terms of spending etc as I’ve done a really and job of keeping track, abut I can’t have gone too far wrong. 
    Will spend some time next week doing a review of finances. 
    Most boring diary up date ever! 

    <a rel="nofollow" href="https://forums.moneysavingexpert.com/discussion/6086606/debt-free-by-23/p1">https://forums.moneysavingexpert.com/discussion/6086606/debt-free-by-23/p1</a>

    True LBM, December 2019 = £32934. Current Debt = £12762. 1% Challenge = 61.1%. #51 3-6 Month EF Challenge = £1200/£6000



  • mark55man
    mark55man Posts: 8,209 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Ha, that's not boring - pop over to mine if you want dull :smile:

    I think I saw you in an ice cream parlour
    Drinking milk shakes, cold and long
    Smiling and waving and looking so fine
  • MidsHollie
    MidsHollie Posts: 292 Forumite
    100 Posts Second Anniversary Name Dropper
    edited 17 June 2022 at 8:44PM
    Well, it has been a while since I posted.

    Do you want the good news or the.... good news?!

    I am now debt free! At some point in April I decided I was going to use the bulk of my emergency fund and sinking funds to pay the last of my debt. Whilst paying the debt, I was also putting £100 per month in to a regular saver for 2 years.
    Since then I have been rebuilding these funds, and now have about £1k in my emergency fund. 
    I'm getting in to the swing of budgeting post debt, but it is so hard to decide what to focus on. With debt it was easy - save a little and throw the rest to debt. Now I've got all sorts of things I want to work on: saving, investing, paying off the mortgage, spending on things that mean a lot to me (travels and home).... so many things to think about now!

    I don't really know what to say. I was just keen to update that I am now debt free. No lottery wins. No inheritance. No extravagant gifts. Just focusing on paying off the debt, month in, month out. 

    Almost £33k of debt. 2.5 years. At times it felt like the longest time. But in others it feels like it has flown. 

    Edit: In the excitement of this post, I completely forgot to mention that I still owe the help to buy equity loan on the house, but that is still within the interest free period, so lets not talk about that this year!!!

    https://forums.moneysavingexpert.com/discussion/6086606/debt-free-by-23/p1

    True LBM, December 2019 = £32934. Current Debt = £12762. 1% Challenge = 61.1%. #51 3-6 Month EF Challenge = £1200/£6000



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