My journey is over after 20+ years

[Deleted User] · 16 June 2020 at 11:30AM

2 years ago, I decided that it was time we made a concerted effort to pay off our debts. CC. and bank loan. So everything was cut to the bone, monthly menu made up from what was in the freezer and cupboard. Every little bit of extra money went in overpayments to the loan and the card. It took me over 12 months, but managed it in the end and saved a load of interest on the loan. Once the loan was paid off I opened a savings account and started working out how much I needed each month to service the monthly bills and payment for the cleaner and the grass cutting, I allowed £60 a week for groceries and then looked to see what was left over, I kept back 10% of what was left and the rest went into a savings account. I was building up an emergency account and at the same time, paid out for funeral plans and also powers of attorney for us both. I also paid the credit card 'in full' each month. To date I am building the emergency account up to £10,000. Once it reaches that amount I will look at a decent holiday for us, we have had to cancel the two holidays I had booked for this year thanks to the virus and both of us being classed as vulnerable. My grocery bill has jumped as we have to order on line to get deliveries, Aldi, where I usually shop, does not deliver. I was shocked at the difference in cost, roughly 20% more per 2 week period. We are lucky that we both have extra pensions, not that they amount to much, but its better than a slap in the face with a wet kipper.
At one point our debt was over £20,000, not a lot to some people but it was to us, I look carefully at what we spend, we both have pocket money each month to spend on what we want.........its mostly spent on holiday, the garden or in my case my hobby.

Kakiste · 16 June 2020 at 11:46AM

Congratulations! I'm still ploughing through paying off my debt so I really look forward to one day being in your position. Where would you most like to go on holiday once you reach your £10,000 savings target?

[Deleted User] · 16 June 2020 at 1:43PM

Unfortunately it will not be where we really want to be...... in France, we are now too old and ill to travel there anymore. We had wanted to live there but for us it never worked out. It could be anywhere in this country, cornwall, Scotland, the lake district or even the north east of England. We will decide when we have reached out goal.