Debt free and staying that way while I re-evaluate life and keep blood sugar levels down

edited 30 March at 12:52PM in Debt free diaries
145 replies 8K views
Humdinger1Humdinger1 Forumite
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edited 30 March at 12:52PM in Debt free diaries
Well dear debt-free aficionados, after reading and commenting on so many diaries on this board, I am launching myself into the abyss! Although debt-free now, you do all feel like my tribe because over 3-5 years several years ago, I did manage off £140k.  Yup, that's right; no need to clean your specs though please feel free to shake your heads in sheer disbelief at the scale of my folly.  All I can say is: that was the size of the lesson I needed.  Drawing on the example of @foxgloves, I will intersperse this diary with horrifying tales of previous spendiness, which may politely be described as magical thinking; or putting it another way, delusions of grandeur; or possibly being so far up my own j*cksie that it's a wonder I found my way out without the help of mountain rescue.  I will be back shortly with further and better particulars but just wanted to make a start.  Thanks to all readers/commentors and a happy new year to us all! Love Humdinger xx 


  • enthusiasticsaverenthusiasticsaver Forumite, Ambassador
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    Great achievement on paying off so much @Humdinger1 and to staying debt free and mortgage free. 

    Look forward to following your diary. 
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected] All views are my own and not the official line of MoneySavingExpert.
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  • jwiljwil Forumite
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    Happy new diary :)
    "If you can dream it, you can do it". Walt Disney
  • Sunshine_girl2Sunshine_girl2 Forumite
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    foxgloves said:
    Hi Humdinger1 - Great to see you've started a diary. We all share & learn from each other on here & you have clearly got an epic debt-busting saga to tell, having managed to clear such a high proportion of debt. As @Blackcats said, I'm sure I will have engaged in much of the same cash-spraying activity back in the day, despite working in a very different sector. It is interesting to note that you & I are the same age.....I think it would be very interesting to do a study on the trajectory of the personal finances of people born in the mid-1960s. My theory (which may be rubbish, but bear with me.....) is that we were born to parents who lived through the war as children, & very much in the shadow of wartime austerity afterwards, in the 1950s. So many of us probably had parents who were pretty careful, didn't use credit (mine had a mortgage & one car loan that I know of in their entire lives) & believed in saving for things. My Mum & Nana were very scathing about buying things on the 'never-never', when people would end up still paying for stuff which would already be nearly worn out. Now, we were a middle-class family & I didn't go without anything, but that post-war, savings good, credit bad, living withing one's means culture was very much in evidence. So given that background culture, us 1960s-born teens go off to university or whatever in the 1980s, & feel we have been let off the leash financially.........& that coincides with the start of the credit boom. An overdraft at first for me (one which lasted over 23 years), then a loan, then came the credit card, the car finance........the amount one could borrow if in full time employment seemed limitless. It felt modern, the solution to so many things, very different to the attitude to money my parents had grown up with. I'd love to know whether there is a correlation between poor money control & being born in the 1960s. Maybe every decade has its own debt-trapping - perhaps those born in the 1970s & 80s borrowed more than us because we had already laid the path for them, normalised consumer debt, I don't know. For younger generations, there is a very real problem of needing two incomes to facilitate paying a mortgage or uncontrolled private rentals - that doesn't make debt any better or desirable, & it doesn't mean that people don't still waste money, but I can understand how difficulties could soon arise having lost an income when two are required to pay the sort of monthly rents or mortgage payments I certainly never had to pay.
    There is probably a strong element of confirmatory bias in my theory, but I regularly read past spendy/debt tales on these forums, think "Oh my goodness, that was exactly me!", then discover the writer is of a very similar age. 
    Anyway, I shall enjoy reading your money-wise diary, @Humdinger1.
    F x

    Oh gosh foxgloves I think you are spot on. 
    Humdingef lovely to see your own diary , will be following . 
    Debt free April 26th 2021

  • Seasidegal58Seasidegal58 Forumite
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    Hi @Humdinger1 - have subscribed and looking forward to reading your diary!😀👍
    Finally Debt Free! - July 2016 🌟
    Finished Emergency Fund- £10,000 April 2017
    RETIRED: MAY 2021!!!!😀🎆
    My diary: “Seasidegal's Scrimpy Retirement Diary!”
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