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Taking charge of debt

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Comments

  • Four_Seasons
    Four_Seasons Posts: 919 Forumite
    Fifth Anniversary 500 Posts
    Congratulations!! You have done so well x
  • Snwps
    Snwps Posts: 230 Forumite
    Fourth Anniversary 100 Posts Debt-free and Proud! Photogenic
    Congratulations fantastic job well done. x 
    Original Debt £37,493.25 @ 25/05/2019 - Now £0 @ 24/02/2023 - £37,493.25 - 100% paid
  • satchmo1
    satchmo1 Posts: 3,260 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Congratulations! It must be such a weight off your mind to be debt free.  <3

    After Christmas it will be worth tasking yourself to build an emergency pot, and begin saving for Christmas 2023 
    What would you get if all you got was what you were thankful for?
  • shell16
    shell16 Posts: 1,354 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 25 November 2022 at 3:21PM
    Yay well done @sunshine_raincloud!  Im so very pleased for you and at such a great time of the year too!  To have cleared off within the year is an amazing achievement!

    What are your plans going forwards with all that spare cash? Take some time for you, I think you deserve a little treat to celebrate.  I look forward to reading your declaration on the Debt Free role of Honour!

    Shell x

                                                                                             

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

  • southern_chick
    southern_chick Posts: 548 Forumite
    Part of the Furniture 500 Posts Photogenic Name Dropper
    Amazing news. Well done. You’ve worked so hard to get here xx
    slowly working towards being MF one small over payment at a time :T
  • sunshine_raincloud
    sunshine_raincloud Posts: 487 Forumite
    100 Posts Second Anniversary Debt-free and Proud! Name Dropper
    Thank you so much everybody! Appreciate all of your kind words and advice! 

    It still doesn't feel completely real. Today the only thing I have done to celebrate is get myself a takeaway as a treat  :D My boyfriend is still away, and to be honest I never really spoke to him much about my debt other than he knew I was in the process of clearing it, and hadn't told anyone else, so it will just be me and the cat having a quiet evening. 

    This time last year I remember desperately wanting to improve my financial situation but not wanting to actually take any responsibility to make the necessary changes. Now I can feel proud that I have got myself to the point where my priority is saving for the future not paying off the past! Honestly I couldn't have done it without all of the wisdom from so many people on here so thank you to each and every person along the way :heart:

    I am so pleased that I found this forum and decided to take the plunge and tackle my debts!

    Debt free November 2022 


  • Makingabobor2
    Makingabobor2 Posts: 4,273 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    Well done. x
    Making the debt go down and savings go up

    LBM 2015 - debt £57K / Now £28,524....its going down

     Mortgage Free December 9th 2024!      18mths ahead of schedule.  Since 2022 we paid over £15K in OPs.

    Challenges

    EF #68  £550/£3000
    .

    Studies/surveys  September £12.02

    Decluttering items 1192/    2025
    Books read    16
    Jigsaws done  11

    My debt free diary...https://forums.moneysavingexpert.com/discussion/6396218/we-will-get-this-debt-d£own-the-savings-up


  • savingholmes
    savingholmes Posts: 29,032 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Congratulations
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.6K Net savings after CCs 14/8/25
    3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
    (If took bigger lump sum = 53.3K or 41.8%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
    (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £4.8K updated 29/7/25
  • lucielle
    lucielle Posts: 11,531 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Brilliant!!! Go girl
     L
    Total Debt Dec 07 £59875.83 Overdrafts £2900,New Debt Figure ZERO !!!!!!:j 08/06/2013
    Lucielle's Daring Debt Free Journey
    DFD Before we Die!!!! Long Haul Supporter #124
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