Reflecting on my first DFW year

Wannabesaver_4

Hi All -

Just sat here reflecting on my first DFW year (entered a DMP with CCCS last Oct) and giving myself and OH a pat on the back. Last Oct we owed £50K unsecured and secured and i hated the post, phone calls and generally waking up. BUT after contacting CCCS and working out a budget things began to fall into place. Then we made the decision to sell our house and use the money to clear some of the debts. I am proud to say we now owe £11,854 :j and that will be gone 16 months time. I think mentally its amazing that we now "only" owe £11K which seems far more managable compared to £50K.

I wanted to say to anyone that you can do it, it takes time and can be tough but it is SO worth it. Recognise your small achievements because they will add up to something to be very proud of. In 16 months time i will posting on here and sayin "Debt Free!" a for the first time it doesnt seem like a dream.. it will actually happen.

So join this thread and think of the one thing you are proud of yourself for this year... it can be easy to criticise oursleves but what have you done to make you think " yeah i have changed and i am on my way!" :T

sammiboo

well done - thats a massive drop in debt!!!

My debt at its highest was £15,200 (see sig) + and now stands at less than 3K (once all due payments have come out)

It doesnt sound a lot but my wages are 14k gross annual - and to drop by 12k in less than 2 years isnt bad going reall

I am hoping I will be debt free at some point next year, in the new year i should have paid off my virgin.

I have recently bought a house - (last month) so my debt reduction will be slower than it has been now I have more commitments.

I am proud that i am a home owner, when my debt was that high i couldnt imagine ever owning a house

WesternExpress

Well done, it sounds amazing. Hope next year treats you as well!

painted_lady

Well done to both previous posters. I havent got my figures at hand, but only have £900 of personal debt now (although business has debts, but running at a profit), prob paid off around £8000 this year.

themaccas

Well done to you both too I totally agree with everything you have said OP, it'snot easy and this month is worse than most although the summer is pretty bad too when everyone is going on their holidays!
We've paid off over £40,000 of debt since Jan 2006 because we borrowed an additional £8000 in the summer when we moved house. We can't believe how near we are to the end but the debt repayment has been slowing down recently:rolleyes: