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The end of the road is in sight just the last stretch to go
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Agentmomo
Posts: 109 Forumite
I have been on this site for so many years and have learnt a lot, yet I have never set up my own diary. Here it is!
I cannot actually wait to be debt free and post in that thread, nearly there but not quite. Tonight was quite momentous for me. After taking advice on here about a CC that was due to expire on the 0% deal. I thought to use my savings to pay the final balance as I'm now at the stage where I hate to see any unnecessary charges and even the thought of a low % fee for yet another balance transfer, well, I simply didn't want that added debt. I knew this deal was coming to an end and when I saw the £10.73 interest on this CC for the month of March, I took the plunge and paid the £1483.59 outstanding balance. This is a huge step for me, my journey with money and debt has not been great over the past circa 30 years....
Please allow me to explain my journey.
It all first started with my very first bank loan, around £500 in my late teens and then during the 90's I racked up a huge amount of debt on Credit cards and store cards, still in my 20's then. Store cards in particular I naively saw as "free money." After meeting my Ex husband (who was in significant debt when I met him) this just escalated, we lived a lifestyle we simply could not afford. By the time we split I was in personal debt to the tune of £30k.
You would have thought that I would have learned my lesson then, yes? But no, I had many sod it moments in particular, "stick that holiday on the CC!" At the very worst point, I was circa £50k in debt and almost lost my house due to a secured loan.
Those that have been on or seen and advised similar journeys to myself will no doubt have either been in my position or warned others of it. I was in that position. The minimum payments on the loans and CC's becoming too much, taking out secured loans for breathing space. I've made that mistake twice!
What changed for me was a complete reality check, I'm not debt free yet, I have one CC left (0% until March 2022) with a current outstanding balance of £4123 which means I need to pay around £375 per month before that deal ends.
I can do this....
I can finally see the light at the end of the tunnel
I cannot actually wait to be debt free and post in that thread, nearly there but not quite. Tonight was quite momentous for me. After taking advice on here about a CC that was due to expire on the 0% deal. I thought to use my savings to pay the final balance as I'm now at the stage where I hate to see any unnecessary charges and even the thought of a low % fee for yet another balance transfer, well, I simply didn't want that added debt. I knew this deal was coming to an end and when I saw the £10.73 interest on this CC for the month of March, I took the plunge and paid the £1483.59 outstanding balance. This is a huge step for me, my journey with money and debt has not been great over the past circa 30 years....
Please allow me to explain my journey.
It all first started with my very first bank loan, around £500 in my late teens and then during the 90's I racked up a huge amount of debt on Credit cards and store cards, still in my 20's then. Store cards in particular I naively saw as "free money." After meeting my Ex husband (who was in significant debt when I met him) this just escalated, we lived a lifestyle we simply could not afford. By the time we split I was in personal debt to the tune of £30k.
You would have thought that I would have learned my lesson then, yes? But no, I had many sod it moments in particular, "stick that holiday on the CC!" At the very worst point, I was circa £50k in debt and almost lost my house due to a secured loan.
Those that have been on or seen and advised similar journeys to myself will no doubt have either been in my position or warned others of it. I was in that position. The minimum payments on the loans and CC's becoming too much, taking out secured loans for breathing space. I've made that mistake twice!
What changed for me was a complete reality check, I'm not debt free yet, I have one CC left (0% until March 2022) with a current outstanding balance of £4123 which means I need to pay around £375 per month before that deal ends.
I can do this....
I can finally see the light at the end of the tunnel
2
Comments
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Well done on getting to where you are from where you have been , we have all been up and down on the debt rollercoaster on here. At least now you have it all on 0% now so get the satisfaction of all your payments going straight to reducing the debt, good luck won't be long now !!1
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My remaining credit card debt is now in the £3000's not the £4,000's. It's a small step but it means so much to me. On the road to debt free, Next step, the £2000's....Almost there0
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