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So close to debt freedom... preparing for what's next



  • Strether2020Strether2020 Forumite
    38 Posts
    10 Posts Name Dropper
    I've been quiet on these boards recently, but I wanted to come back on to say that I have managed to pay off the final amount on my HSBC credit card this week - so I have now paid off all my debts! Just over three years since my LBM, when I had £18,500 of debt. It's just sinking in... what I'm most proud of is the way I got here through lots and lots of small steps. All those little payments - sometimes just a few pence! - to help keep thing moving in the right direction. They really do all add up! 

    I think I've been in debt - in problem debt, because I felt out of control throughout - since I was eighteen and first got an overdraft on my student account. So it's about twenty-five years. My challenge now is to avoid slipping back in debt (at least for silly reasons - there may be times when I need to borrow for reasons out of my control!). I have to say, the feeling of knowing what my money's doing, the feeling now that I'm not afraid of my credit card bills, my overdraft, my personal loan, is quite amazing. It's my dearest wish that everyone on these boards who is also on this journey gets to this point too. You are all so inspiring.  

    Can't quite believe it's happened!!
  • AllNightDinerAllNightDiner Forumite
    223 Posts
    100 Posts First Anniversary Name Dropper
    That’s amazing - congratulations and well done! Such an inspiring story :-)
  • joedenisejoedenise Forumite
    15.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Congratulations and well done.  I paid off the last of my mortgage a few years ago by making loads of very small payments!  Anything from 5p to 99p or on the very rare occasions nearer to £5 but certainly nothing bigger than that!

    Now to stick with being debt free and using a CC sensibly.  I use mine for everything and then pay it off at the end of the month.  I use it to collect the loyalty points which then get used to buy Eurotunnel tickets for our holidays in France.

  • sunshine_raincloudsunshine_raincloud Forumite
    446 Posts
    100 Posts First Anniversary Debt-free and Proud! Name Dropper
    Only just found your diary but I just wanted to say congratulations on being debt free and what a massive inspiration!
    Debt free November 2022 

    EF £2690/£6000 44%
    Additional house deposit fund £2053/£15000 13%
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