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MrsPanscrubs
Posts: 28 Forumite
Having received fantastic advice on my recent posts here, and reading many debt free diaries, I felt inspired to begun my own.
I have recently had my light bulb moment. Following the breakdown of my marriage, I ended up ignoring the debts for five years. I have had the war in my head about knowing what I need to face I finally, following advice from here, tackled my debts and am now on track with a monthly budgeting plan, (providing work remains in place during this shaky economic time) and with payday tomorrow, I have written everything down, prepared myself for a long month as payday is earlier. (Have read the December pay trap thread) I now have my next month's plan in place.
I earn £1257 (net a month) I have no rent or mortgage so I'm able to throw what I can extra outside of the payment arrangements made with Lowells. I have set a comfortable arrangement with them and any overtime I'm able to do, enables me to pay extra without any stress. My aim is to be debt free by April 2023 at the latest.
With all of that said, welcome to my diary. Today, I'm gardening, I have finished work until 27th. I live very rural, the nearest town is 10 miles away.
Looking forward to chatting and any advice is always welcome from knowledgeable people here.
I have recently had my light bulb moment. Following the breakdown of my marriage, I ended up ignoring the debts for five years. I have had the war in my head about knowing what I need to face I finally, following advice from here, tackled my debts and am now on track with a monthly budgeting plan, (providing work remains in place during this shaky economic time) and with payday tomorrow, I have written everything down, prepared myself for a long month as payday is earlier. (Have read the December pay trap thread) I now have my next month's plan in place.
I earn £1257 (net a month) I have no rent or mortgage so I'm able to throw what I can extra outside of the payment arrangements made with Lowells. I have set a comfortable arrangement with them and any overtime I'm able to do, enables me to pay extra without any stress. My aim is to be debt free by April 2023 at the latest.
With all of that said, welcome to my diary. Today, I'm gardening, I have finished work until 27th. I live very rural, the nearest town is 10 miles away.
Looking forward to chatting and any advice is always welcome from knowledgeable people here.
#19 on Pay ALL your debt off by Christmas 2022.
£6487.15 to pay.
£6487.15 to pay.
2
Comments
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I can't claim to be a knowledgeable person but I'm sure they will be along soon. I just wanted to say hello and welcome. I will be following your journey to debt free.
If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them
Emergency fund 100/1000
Buffer fund 0/100
Debt Free (again) 25/0720250 -
Hey 👋
I just wanted to wish you the best of luck on the journey to debt freedom0 -
Hello 👋
It is 8months since my husband left us in a big pile of financial mess. I am quite enjoying taking some accountability but the non-amicable divorce is pulling us down
Is Lowell’s a Debt Management Plan?
Total Debt May 21 £20,490.44 DEBT FREE DATE 29/7/22
Mortgage balance May 21 £177,096.19. Now £143,588.36
Mortgage free date. At start of sole mortgage = July 2042
2024 SAVINGS FOCUS - get rid of the car finance. £12,706.25 PAID OFF
2025 Savings Focus - 33.3/33.3/33.3 split; savings for house renovations (bathrooms/garden/kitchen; whichever collapses first), save for a family holiday (probably our last one!) and paydown/offset the mortgage. Total pot = £3275.880 -
The very best of luck with your new diary will be cheering you on x0
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Happy shiny new diary.
Keep posting.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0
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