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Debt and Budget (Reset) plan

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  • SusieT
    SusieT Posts: 1,267 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Congratulations on being debt free, it is a great feeling to finally get a nil balance. It is a shameyou are ending this diary, as some people like to see what happens after debt freedom, but good luck with the savings and reaching your totals, it is the start to a completely new life for you :D 
    Credit card debt - NIL
    Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
    Mortgage 64,513/100,000 End Nov 2035
    2022 all rolling into new mortgage + extra to finish house. 125,000 End 2036
  • shell16
    shell16 Posts: 1,354 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    SusieT said:
    Congratulations on being debt free, it is a great feeling to finally get a nil balance. It is a shameyou are ending this diary, as some people like to see what happens after debt freedom, but good luck with the savings and reaching your totals, it is the start to a completely new life for you :D 
    Thanks @SusieT, I have provided a link above with my diary going forwards.
    Shell x
                                                                                             

     Debt Free - 04/03/23.  Total LBM August 2021 £15410.70

  • Keedie
    Keedie Posts: 2,847 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Combo Breaker
    Ahh bless you and thank you for the notable mention which is very kind of you. I don't think you'll ever realise how much you've helped and inspired me so thank you and I have subscribed to your new diary.
    Debt Free Diary:- The Mental Debt Struggle
    (Original Debt on 15/07/2016 was £33,056.76) 🙈 but Debt Free on 09/02/2025 🎉
    2025 SAVINGS: Emergency Fund (£604.30/£5,000) 12.09% saved
    2025 CHALLENGES: #16 Sealed Pot Challenge ~ 18 || #9 50 Envelope Challenge 22/50
  • EssexHebridean
    EssexHebridean Posts: 24,424 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Oh my word just LOOK WHAT I MISSED!! Congratulations Shell - it's been an absolute pleasure watching your journey from the start, past the enormous bump in the road, turning the corner and now reaching the first destination.. "Why the first?" I hear you ask? Well because you've now learned the lessons, gained the skills and acquired the understanding to move onwards - to savings, maybe to a mortgage cleared early, to the ability to use credit to your advantage but not let it get the better of you - and all of those things mean that you will have the financial freedom to get to the other destinations that await. 

    Well done you! (I hope you have posted in the roll of honour?!) 
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
    Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
    £100k barrier broken 1/4/25
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    she/her
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