What is Your Why ?

robbo_c

I became a DFW because I was 23 and the constant letters saying I'd missed payments scared me and upset me so much and owing £15k meant that at that point I owed more money than I earned in a year which was really daunting!

I've now only go £3k left and have found a new burst of enthusiasm and have doubled all of my payments, making huge sacrifices elsewhere so that it's all paid off by October next year, if not before. Knowing that I'll be debt free is now my motivation, knowing I'll be a few hundred pounds better off every month also helps!

englishmac

Put quite simply we overcooked it and now we are paying for it. Unable to gain much advantage from the majority of the tips as we're not in a position to do much other than claim the freebies. We have slashed our outgoings and increased our income by 50% but it will be a long haul back. Its a struggle to eat and have enough left for petrol (for work of course!) by the end of the month.

But the site is so much more than money tips. I log on every week just to get a boost to lift me and keep me going. The community spirit is an inspiration. At one time I would have bought the expensive coffees when I was on a downer, reasoning it wouldn't make much difference anyway. Now I remember the difference being positive and self-detmined has had on so many MSEers. With that support behind me I have made a difference myself. I come away from the site each week with renewed detemination and one main thought: We will be debt free one day. I actually believe it.

esthomizzy

I'm an MFW and have been hovering on here for a year or two. At the start of 2007 myself and my ex owed 133k on a 350k flat and I'd got the term down to 14 remaining years (I organised the financial stuff). Then we broke up this year and buying him out has almost bankrupted me. I now really need all the cutting back advice which I was taking as peicemeal before. I'm partly leading an MSE lifestyle because I want to live within my means and not resort to digging into my savings. I'm on a 25 year term now and I feel I'm rather over exposed debtwise so although it's not that much fun not having as much ready cash as I was previously used to I'm overpaying to the extent of making it a 19 years remaining term. I really want to keep this up as this makes my end date when I'm 48 which is still young enough for me to have options that don't rely on a massive income (I'm not absolutely sure what they are yet but I want to have them).

redcurlypanda

My Why is because every little helps.

Unfortunately I have little help and advice to offer people who are struggling with debt, thankfully it is a situation I have not been in. I was always brought up to save and as a child my pocket money was divided into 25p per week to spend and 15p per week to save (I'm 38 now!). I loved nothing better than watching my savings grow in my account and usually ended up saving most of my 'spending money' as well. This helped me to be in the position to buy my own property for cash when I was 31 (I only started work at the age of 21 having struggled to get a job for 3 years after leaving school). Then at the age of 35 I was made redundant twice in one year and have not yet found a suitable job since, as I have a disability which limits a lot of what I can do. Maybe I am one of those people who use this site to help myself but surely that is what we are all doing.

Anyway I'd like to take this opportunity to thank everyone who posts all the useful information and to give the only piece of advice I can and that is:

Saving is a way of life, so whilst all the adults are sorting out their finances how about encouraging the next generation to start saving now.

Merry Christmas & A Happy New Year To You All

Best Wishes

RCP

RoxieW

http://www.rightmove.co.uk/viewdetails-16307914.rsp?pa_n=1&tr_t=buy

this is my why - a good 100K over our budget (and i very much doubt it will still be on the market when we can afford it) but I'm aiming for the 'forever' dream house before I'm 30 (in 5 years!). We want to be settled with our beautiful boys in the house that will see them through their teens.

moanymoany

I discovered MSE when we realised our endowment's weren't going to pay the mortgage. Even after claiming, we had a big gap. Our mortgage deal at that time said we could pay an extra £500 a month. DH said it couldn't be done. At that time we used £550 a month on food shopping and petrol - often we spent more than this! oops

We decided to try paying the £500 and live on what was left. At first it was one hell of a struggle - a year later we were paying the £500 and saving some extra towards the time the deal ended and we could pay any lump sum. The mortgage was paid last year with some over and we are now saving for our retirement.

The biggest help in moneysaving has been the OS threads. They are very supportive and full of moneysaving ideas. Well worth a visit if any DFW's haven't been there so far.

skintscotslass

sammiboo wrote: »

For me is I dont want to ever be in a position where I am constantly worrying about money. I dont want to be in a situation where I am in tears again feeling sick that i cant cope with my debts.

Now doing things the DFW way is really addictive and I look forward to each debt being paid off with excitment

I know i will never be rich but I want to enjoy life not worry about it :beer:

Thats exactly the same as me. I cant believe the change in me in less than 3 months. I'm not contantly feeling sick and bursting into tears. I like my life now!

mogwai

To not have to keep track of all my payments, and debts. To plan useful and worthwhile things to do with my money, rather than which credit card is the best one to pay off first!!

CHEAP_AS_CHIPS_4

RoxieW wrote: »

http://www.rightmove.co.uk/viewdetails-16307914.rsp?pa_n=1&tr_t=buy

this is my why - a good 100K over our budget (and i very much doubt it will still be on the market when we can afford it) but I'm aiming for the 'forever' dream house before I'm 30 (in 5 years!). We want to be settled with our beautiful boys in the house that will see them through their teens.

i want that one:drool: (drooling!!!)

same reason we need a bigger house and if we had been sensible that it was we would have now.

chevalier

my why is to keep me on the straight and narrow, to focus on the difference between want and need. And because this is such a supportive community too.
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