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Debt free and staying that way while I re-evaluate life and keep blood sugar levels down
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So, riffling through ancient bank statements to see if I can find evidence that might enable me to claim compensation for secret commission on old car loan. Not found anything yet (we're talking 2007-2011, back when dinosaurs roamed the earth!) What I have found however is shocking evidence of my cavalier attitude to spending, debt, overdrafts exceeded with horrific penalties, loans, credit cards...the list goes on and on. I didn't fully realise what a colossal lightbulb moment I had. The sad thing is that at times, there are plainly big credits but did I seize the moment, clear debts and get my feet on the ground? No I did not! Not on your Nelly. Ah well, these days I'm grounded and sensible. Looking through old statements made me realise from my very different vantage point just how close I was to never coming back to reality. Love to all Humdinger xx9
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So pleased for you on the new project.
I'm with you on the regret of past financial mistakes.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £167.4K Equity 38% 3/4/26
2) £2.1K Net savings after CCs 14/5/26 (but owed £1.3K) so £3.4K
3) Mortgage neutral by 06/30 (AVC £42.2K + Lump Sums DB £4.6K + (25% of SIPP 1.4K) = 48.2K of £127.5K target 37.8% 24/5/26 (If took bigger lump sum = 70.1K or 55%)
4) FI Age 60 income target min £17.1/30K 57% (may need more) If bigger lump sum £15.8/30K 52.67%
5) SIPP £5.6K updated 16/5/263 -
We can’t change the past. I have certainly been there.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*** in ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan. 19months left.4 -
How right you are @beanielou! Just...what WAS I thinking, if you can even call it that. Looking back makes me so profoundly grateful that I'm out of that mode and into conscious spending only. Love Humdinger xxbeanielou said:We can’t change the past. I have certainly been there.3 -
Me too, @Humdinger1. Nothing could entice me into a re-run of the Spendy Years.
F2026's challenges: 1) To rebuild our Emergency Fund to at least £5k.
2) To read 50 books (12/50) 3) The Re-Shrinking of Foxgloves 8.1kg/30kg
Remember....if you have to put it on a credit card, extend your overdraft or take out a loan to buy whatever it is, you probably can't afford it, as that's not your money, it's somebody else's!4 -
I was there on the oblivious spending … But this stuff was never talked about then, so there was nothing to offset the never ending deluge of sales adverts for ‘stuff’ and consumption, which became ever more sophisticated and insidious …
I have a rule about hindsight: I’m allowed to learn from it, but not beat myself up about it. If I make the same mistake twice though … 😉
KKAs at 21.05.26:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £215,607
- OPs to mortgage = £18,925 Estd. interest saved = £9,670 to date
c. 16 months reduction in term
Fixed rate 3.85% ends October 2030
Read 35 books of target 52 in 2026 as @ 24th May.
Produce tracker: £119 of £400 in 2026
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.6 -
Yes @KajiKita I totally agree. The saying 'but that was a different country; and besides the wench is dead' was going through my mind. My LBM really was a rebirth and I'm so grateful I had it. Love Humdinger xx9
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Profound. If we could relive moments with the wisdom we gained from the disasters how different would the outcomes be.
And yet, for me, I feel that the person I am today grew out of the disasters. I like @KajiKita approach, learn from mistakes, don't beat myself up and just don't make the same mistake again!Made it to mortgage free but what a muddle that became
In the event the proverbial hits the fan then co-habitees are better stashing their cash than being mortgage free !!6 -
This, this, this! 🤩Watty1 said:Profound. If we could relive moments with the wisdom we gained from the disasters how different would the outcomes be.
And yet, for me, I feel that the person I am today grew out of the disasters.
I sometimes think, if only I hadn’t gone to that university (miserable experience), met that horrible relationship, had that stress caused health issue etc etc …But then I realise I wouldn’t be the person that I am now, that I rather like and quite respect … And I definitely would not have met Mr KK and had this whole mad adventure with him 😊❤️
KKAs at 21.05.26:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £215,607
- OPs to mortgage = £18,925 Estd. interest saved = £9,670 to date
c. 16 months reduction in term
Fixed rate 3.85% ends October 2030
Read 35 books of target 52 in 2026 as @ 24th May.
Produce tracker: £119 of £400 in 2026
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.5 -
So pleased about your new work project!
On the regret I think most of us on here have spent mindlessly before seeing the light - its why many of us are here- to encourage each other and motivate ourselves to get even clearer on what a fabulous frugal life means to each of us.DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest6
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