It's time to begin.....

edited 11 September at 11:32PM in Debt Free Diaries
712 replies 53.6K views
KakisteKakiste Forumite
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edited 11 September at 11:32PM in Debt Free Diaries
So I'm 15 months in to my journey to becoming debt free and after reading loads of the diaries for inspiration across the last year and a bit, I've decided to start my own. 

 I hugely messed up a few years ago by not saving up anything (putting no thought into anything) for my wedding or maternity leave and went into it with no savings and at the end of my overdraft and ended up in a huge pit of debt. My monthly outgoings remained the same as my wages reduced to SMP and then I ended up taking out credit cards, loans and the dreaded consolation loan in an attempt to keep my lifestyle the same and it span out of control

I think at the time I was burying my head in the sand so much and just kept working towards "When I go back to work I'll pay it all back...." but then hadn't realised (again total lack of preparedness) that my childcare for 40 hours a week would be sky high and then I embarked on paying £680 a month in childcare for the next 2 years until the free 30 hours kicked in when she was 3. 

By that time I had run up astronomical debts. Somehow during all of this I kept the extent of my debt concealed from my husband due to fear of his reaction given our relationship was fairly rocky at the time, he also refused to redistribute how we shared money during maternity leave which meant I had to continue to pay £600+ of bills that I had no income to cover so covered them on credit.
He found out (by total accident) in February last year and this forced it out into the open and made me able to lay bare all I owed and start planning a way out the debt. 

So I started a DMP a while back and I've worked out quite a strict SOA with Stepchange and by a lot of cut backs, an incredibly frugal household food budget of £30 a week (hard going but i've managed to stick to this for 15 months :) ) as well as doing a lot of free stuff for entertainment rather than paying

I've so far in 15 months; paid back over £15k -with quite a lot left to go. 
  
After all of that in May 2020 I'm left with three main debts;
£17k- My DMP and 11.5k to relatives.

So a long way to go; £28,417 in fact. However it's all moving in the right direction. A new shiny bank account with 'pots' for everything, no overdraft so all the money there is mine, a new job which I love and an emergency fund up and running that has been built up and then used a couple of times (new washing machine, car MOT, dental treatments) and kept me from putting anything else on credit. I'm feeling positive about the next 15 months. :) 

Bottom line; 
£37,280 paid off 
£11,901 left to go. 
«13456772

Replies

  • edited 11 September at 11:35PM
    KakisteKakiste Forumite
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    edited 11 September at 11:35PM
    So a nice NSD today. As part of our £30 week shopping budget I've started picking up 2 frozen pizzas so that way £2.50 spent as part of food shopping sits in the freezer until we really fancy a quick and unhealthy tea and saves us £15 extra outlay. Worked well tonight and only a 17 minute wait time! :tongue:
    Last day of half term tomorrow so need to grab some popcorn on way into work tomorrow as a reward for my form
    Bottom line; 
    £37,280 paid off 
    £11,901 left to go. 
  • CreditCardJunkieCreditCardJunkie Forumite
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    Just wanted to say hello, you've done amazing so far! Keep up the momentum! 
    Debt Free as of December 2020 👏
  • daniellemairedaniellemaire Forumite
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    Wow, this is so inspirational! 
    I'm a few weeks into my journey of becoming debt free, currently £181k in debt (which includes my £124k mortage).  
    I'll be following your journey :) 
    Follow my debt free diary here. 
    Debt to start with: £182963.42 
    Paid off so far: 1706.83 
    Total outstanding: 181256.60
  • edited 11 September at 11:36PM
    KakisteKakiste Forumite
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    edited 11 September at 11:36PM
    Thanks both- :) It was really uplifting to figure out how much I've paid back whilst writing the entry as sometimes I have days where I still feel like I've made no progress. How do I follow other people's diaries? 

    Spent £2 on way to work on the popcorn and we all watched a car refurbishment program on Netflix instead of doing work. It's the last day of half term and they've all worked really hard. Chuffed with them. :s:smile: 

    I was immediately ambushed in the staffroom this morning for two collections which is another £8 gone. £3 to a collection for one of the TAs big birthdays. Then £5 for a retirement present for another colleague. I've only been at this school since September but I was in my previous school for 10 years and over half the staff team are people who 'defected' down the road across the last few years. My previous school was horrible- properly ground me down so coming to a lovely school filled with friends I'd already worked with for years was like coming home. :smile:


    Bottom line; 
    £37,280 paid off 
    £11,901 left to go. 
  • edited 22 May 2020 at 2:59PM
    joedenisejoedenise Forumite
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    edited 22 May 2020 at 2:59PM
    To follow a thread go to the top of the page and your'll see a box on the left saying Bookmark, just click on it.  When you want to see the thread's you've bookmarked at the top on the right you'll see a box headed Bookmarks and there will be a list of the threads you've bookmarked.

    I've bookmarked your thread to follow!

    Hope that makes sense!

  • KakisteKakiste Forumite
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    It does. Thank you for explaining. :smile:
    Chicken and chips for dinner tonight- using up some of the freezer stash. 
    Bottom line; 
    £37,280 paid off 
    £11,901 left to go. 
  • edited 11 September at 11:36PM
    KakisteKakiste Forumite
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    edited 11 September at 11:36PM
    It's trés windy here this morning
    Off to Aldi in a bit for shopping. 
    Bottom line; 
    £37,280 paid off 
    £11,901 left to go. 
  • joedenisejoedenise Forumite
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    Same here on the South East coast but great for drying the washing!
  • KakisteKakiste Forumite
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    See I've hung ours up in the conservatory as the sea is about a mile away over flat fields and the wind is raging. I'm pretty sure I would have lost some clothes if they'd gone outside. 
    Bottom line; 
    £37,280 paid off 
    £11,901 left to go. 
  • MumoffourkidsMumoffourkids Forumite
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    I was going to dry my washing outside on the line but we’ve just had a heavy shower here and I don’t trust the weather not to shower again. 
    Emergency fund £257.38/£1000
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