end of year thoughts and target

angelavdavis

Hi all,

I started the year with about £13k worth of debt which I had built up through funding my MBA and juggling credit cards and have since repaid this through changing jobs and reducing outgoings drastically.

After paying off my debt, I got married (MSE wedding of course!) and we had a fabulous honeymoon which cost twice the cost of the wedding (but which I got lots of quidco cashback and used my cashback credit card to pay for - so saved us over £300 total in cashback!)

Finally, I have stuck to my MSE ways and used the savings to reduce my mortgage by £5,000 to date and my plan for 2008 is to continue overpaying this with a view to clearing it hopefully within 3 years.

I intend to do this through the increased income, continued monitoring and minimalisation of the outgoings, continued use of cashback sites/ccs, using vouchers to best effect (Tesco, etc), selling unwanted stuff, Old style challenges, shopping around, etc.

I think setting yourself a target is definitely the way to go and lots of people on here offer so much support, should you find your motivating waning!

Have a great Christmas everyone!

nicola1982_2

This last year I managed to get my finances in order so that I could live comfortably. Next year I'm living on a reduced income so I'll need to review my finances again. I want to get to Christmas without using a credit card for gifts, I want to be able to put money in my baby's trust fund and I want to enjoy a break in the UK. Towards the end of the year I'm going to start making larger payments back into my debt.

Little_Pickle

Great thread!

I've learned a lot of money lessons this year thanks to Martin and everyone here.

I learned that it is possible to budget without changing your life massively, and what's more, it's a thrill to come within your budget, even by a few pence.

I learned that I have lived a throw away life and can get by without the things I would have normally have not even thought twice about spending on.

I've found many, many fantastic challenges and tips on this site which have helped to keep me motivated and focused.

I've found that no longer burying your head in the sand and dealing with the problems you have provide a much better night's sleep!

More than anything else, I have discovered that I am NOT alone, that there are many, many people here, giving advice, in the same position as me, who are so wonderful and instrumental in all of us overcoming our debts and wihtout them, by journey would have been a much tougher and lonelier one.

So for all the love and support I have got from you all, I thank you from the bottom of my heart!

Next year, I aim to be debt free (by March / April) and start saving for a house.

LP
xox