What is Your Why ?

slowlyfading

I found this site after searching for somewhere that would help with budgeting - being at uni and handling my own money wasn't as easy as I thought it would be! I love this site, and all the people on it, and have learnt a great deal along the way. I now know where every penny of my budget is, where it goes from day to day, and that I hope I'll be able to do it when I get a proper paycheck whenever that might be.
I graduate in June 2008, and I'm hoping that I'll be able to manage on whatever income I find myself getting, whether its a lot or a little, and be money savvy. I hope that I can buy things without needing a credit card - and you lovely people have taught me so much. I'll be here for a long time to come I think!
sf

doodledo_2

My why is definately my daughter.

I am fed up with living payday to payday and working towards the day I am debt free and don't have to constantly worry if we have enough cash.

sophiesmum_2

I just want to be able to have a good quality of life whilst living within my means. That means getting the best value out of every penny I earn, not wasting money on unnecessary stuff - but still enjoying life.
I have picked up lots of tips from mse on how to get the best deals, 0% interest, using quidco,pigsback, taking advantage of loyalty schemes, shopping around and oldstyling:D
I have a relatively low income but doing all of this means I can have the lifestyle of someone earning much more:j.
Once you do all this you realise that it gets quite addictive and you also realise how much money you used to waste on interest payments, takeaways and unnecessary stuff which just clutters up your home and life.

Butterfly

I am a DFW because 5 years ago I got myself in to £10k worth of debt at the ripe age of 30 years old. I was living deep in an overdraft, with a personal loan and credit card all with the same bank (Lloyds TSB), all at ridiculously high interest. I had to educate myself about credit reports, interest rates, personal loans, debt problems and the electorall roll. Being in debt has made me feel rubbish about myself in the past as I felt out of control. It was a horrible, dark cloud over my head. Now I am in control of my debt and my spending and I am looking forward to my DFD next year. I'm going to celebrate by drinking an expensive bottle of champagne in the bath by myself. I cannot wait!! I read MSE because it inspires me and also if I'm honest it makes me feel better, because I know my situation could be alot worse than it is. I look forward to receiving my monthly salary next year and seeing none of it going to pay a debt. I promise myself that I will not get myself in to this kind of a pickle ever again! x

tryingtodobetter

I originally came here looking for help about our debt of £16000, we have now paid this off :j but i continue to visit the site to help us on our quest to save for our new life in New Zealand.

duchy

Many thanks to everyone who has replied. It has made facinating reading and I know it isn't an "easy" topic

beemuzed

I found the site on the recommendation of a friend - really looking for bargains. Then realised that, despite having a pretty good lifestyle we owed rather a lot....and I'm due to retire in December 2008. The pension will be fine, and travel, etc. is on the cards - but not if I still have debts to fund. So, by September 2008, with the help of all the good folks on here, I aim to be debt free so that when I do stop work I won't still be owing money.
Brilliant site, fantastic people. Thanks.

marksandsparksgal

I am lucky to be in the position that my debt is negligable. I have £800 in a 0% overdraft (which I am aiming to pay the bulk of via Quidco etc by when I graduate in June '09), and about £7000 in a student loan which I want to let expire over time. I am also lucky in that I have inherited about £20k so in theory could pay these off but I'd rather let it sit in the savings a/c for when I eventually look to buy a place.

As my sig says I'm on a year out in Berlin this year for my degree, and in part my MSE ways are because it's the first time I've ever really been completely on my own. In this I mean that before I was living at home and working part time, and earning more than enough to cover my outgoings etc, whearas now everything is completely off my own back. So by being MSE I can do my year out, have fun but not muck it all up.

Also, the price of property and actually, everything in general scares the hell out of me, so I need to make good habits now, before I move out properly and it all goes horribly wrong. This site, and especially this board really help when I have a day and think "oh sod it put it on the credit cards", as I see what could happen if I did!

So thank you to all those that are so honest with their diaries and threads. You all rock!

Ibex

Great thread, I have been DFW since July 2006, for a couple of reasons - mainly so that I can paid back all my debts now about 24K but 36K at start . The shock :eek: of adding up my debts and the realisation that I was paying £700 per month in interest payments alone per month was a real light bulb moment. The other reason is I will be 50 next year I certainly feel I should be working towards a finacially secure retirement.

ps I'm not a newbie as now posting under a new alias my previous ID was a bit to easily traced back to me and I don't want my mates and family to find out.

fc123

I wish I'd known about sites like this 4 years ago. We had got ourselves debt free for some time and were coasting along....but then we took a businesss risk using credit available to us (a LOT! :eek: ).....Now we have hindsight!

I find all the tales, tips and information incredibly useful and supportive.

I learnt all about about COMPOUND INTEREST this January whilst reclaiming bank charges....I cannot belive how we got sucked into the whole debt trap so easily and deeply.

The aim is to get rid of the debt by end 2008 and plough EVERY spare penny (and there will be loads as have given up all the silly things that add up to so much through the year) into the mortgage....or if we sell our house.....add to the fund.

The aim is to own a home outright before last child gets to 18! (5 yrs time).

Then have savings so we then can have more choices.:D