Almost at the finish line (original post closed)

ftbwannabe · 7 August 2021 at 8:43AM

Hello, it's been so long since I was here last that my original diary has been closed, oh dear! Well, that's how long it blimmin well takes to clear debts 😁

I wanted to update here that I've nearly done it. 2 more payments to go and I will be debt-free. I'm weirdly nervous! It's still hard!

This community & keeping my diary was a huge help when I started to pay my debts down. Here's the diary I kept (I wish I'd known it would get closed! :-( ) https://forums.moneysavingexpert.com/discussion/5875944/i-hope-i-can-do-this/p1

In that first post I was £17,204 in debt, and I think it was about 700 higher actually because I also had an overdraft back then. I was vibrating with nerves & guilt, & the size of my debt seemed impossible to clear. Being in debt was part of my identity. I thought I'd never get a mortgage because I was so in debt & incapable of saving.

Today (exactly 3 years this week later!) I owe £1,499 on one card & am scheduled to make my last payment in October this year, with enough cash on hand for a small EF. All my other cards are closed, I haven't had an overdraft since 2018, and I got that mortgage, & a remortgage at a lower rate 2 years later :-)

You know what? I was scheduled to have paid this card off by now but in the last 2 months my spending has crept up again. I'm at the last hurdle & self sabotage is creeping in. I'm buying stuff I don't need & ordering takeaways, my grocery bill has been massive.

It's partly the pandemic ('i'm scared/bored/so need treats' and 'better get food in just in case' but I can tell it's also my brain kicking off out of some kind of weird fear. Change is scaring my brain & bank card into old habits. Aren't humans weird?!

But I'm gonna do it, just got to grit my teeth & block Amazon & delete Apple Pay & do some pantry-shopping & stick to my budget*.

(*YNAB saved my life, thank god I found it).

Thanks to everyone (if you're still around) for the support. I am not exaggerating when I say spelling out my debts here & brainstorming how to clear them gave me a clarity & focus I couldn't have got this far without.

If you're wavering about starting a diary or making a SOA, I say jump in now. Start a diary, start tracking your spending, get one of those things where you colour in every £50 you chip off your debts. And go support someone else's diary. It makes a difference being seen & understood. I hope it's as helpful & supportive a tool as it was for me.

vampirotoothus · 7 August 2021 at 10:17AM

Well done on how far you have come and for re-focusing for the last bit. It will soon be gone and you will be debt free. V:)

ftbwannabe · 7 August 2021 at 11:17AM

Thank you 😊. Just gotta get through this last bit 🤞

ftbwannabe · 30 July at 10:38AM

Wow, did I never post here again? No debt-free online party for one? Because, I made it! I was debt-free that year (a month earlier than planned, if i remember rightly) and have stayed debt free ever since. I still credit (ha) this forum & my debt-free diary with being the main force to keep me going. The accountability, and the support, and the place to figure things out. If anyone reading this is on the journey to debt-free and feeling tired or hopeless or ashamed or stressed or angry or scared, I know how you felt and you can do it! Just keep going. Some days will be crap, but eventually you'll get there and the power of knowing yourself (your triggers, and your strengths) will stay with you long after the cards are gone.

Back here today because I want to discover the frugal mindset again. I'm not in debt, I have a 3 month Emergency Fund, and I'm making extra pension payments. All good. But I want to spend a couple of months (or more) seeing how much I can cut back & save if I tighten my belt again. I've got lazy about spending and, just because it's not getting me into debt, doesn't mean I couldn't be doing better things with that money. I want to invest it, either towards earlier/semi retirement or for spending it on something big - not fritter it.

I still use Monzo & YNAB, which means I have 7 years (can't believe it's been 7 years since my first post here!) insigh into my spending. I should be able to save at least £500pm without mega scrimping. How much can I save with some medium scrimping, and saying no to unplanned purchases? WIsh me luck. and good luck to YOU.

Debtfree2026 · 30 July at 2:10PM

This is inspirational! I am due to pay off credit card next summer and loan the year after - hoping to get these down sooner off course! I can't wait until I'm writing on my diary, saying I'm debt free! I can't imagine how liberating it must feel!