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24 months to debt freedom

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  • EssexHebridean
    EssexHebridean Posts: 21,706 Forumite
    Name Dropper First Anniversary Photogenic First Post
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    You will learn to trust the process a bit more with budgeting and saving as time goes on - however, in my experience you do still have wobbles in spite of how long you've done it for so don't be surprised if it takes a while! 
    🎉 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
    SOA CALCULATOR (for DFW newbies): SOA Calculator
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  • CL21
    CL21 Posts: 253 Forumite
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    edited 24 March 2023 at 2:53PM
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    Just checking in on payday! Updated my signature - although not paid as much off as usual, I’ve managed more than the minimums and got myself into the next number bracket down. This month I have:-

    Holiday in Lanzarote for ten days - all inclusive so limited spending required
    Deposit to be paid for a summer residential - £125
    Car tax - £180
    Ground rent - solicitor hasn’t sent a bill for last few years (Covid?) so three years are due together - £87.50
    Radiators finally changed but boiler blew up when they turned it back on (it’s about 12 years old!) so agreed to pay half to replace the part needed. Note to self - set up a boiler replacement pot! - £1950 (£1800 saved up already)

    Would also like to book the ferry for summer but think this will now be too much of a stretch. Will see how much I spend on holiday. 

    Anyway, I’m happy with the progress so far - almost 10% of the debt paid off. 

    Onwards and upwards! 
    Credit Card 1 - £6249.99 £4,900
    Credit Card 2 - £13,481.47 £12,985

    Total debt - £19,731.46 £17,885

    Emergency fund £930
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