Finally debt free

Liam1234567

Hi all,

First time poster, long time lurker.

One year ago today I visited these forums for the first time as I finally felt overwhelmed by my debts of around £9k (loan and credit cards). I make a decent living as a single person (50k per year) but was in that awful habit of somehow “mysteriously” always being broke and having no savings to speak of in my late thirties. It wasn’t mysterious at all, it was stupidity and being irresponsible with money. 

I resolved to get a grip, get on a budget and be debt free within 1 year. Thirty mins ago I made the final payment on the last debt. It’s been a lean year of throwing absolutely everything at that debt, but I am now debt free (apart from the mortgage) and can finally focus on now increasing pension contributions and saving/investing. 

This is basically to remind myself how this moment feels. Release, joy, after years of debt. This is my reminder if I waver again or become complacent that I do not ever want a return to those feelings. 

I’ve loved reading everyone’s diaries and they’ve helped keep me motivated, especially when initially breaking my poor money habits. I hope this too will help some folk. Get a budget done every month, stick to it, live well within your means and get that awful burden of debt out of your life.