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Debt free March 2026
RS156
Posts: 7 Forumite
2 years and 7 months!
I started 4 months ago and have cleared 12% of my debts.
Debt free for me doesn't include the mortgage - that will be step 2 😜 credit cards is step 1 which is in progress.
I downloaded 'debt payoff planner' (android app) in March and I really like it. It tells me how much to pay to each account every month, and sets out goals along the way (I.E. when a certain debt is cleared).
This isn't very exciting so I'm not sure anyone will find or read this, but that's OK. It's just a bit of personal accountability.
I get really excited each month when I get paid and go on and clear around £500 of debt each month.
Onwards and upwards!
Currently cleared £2022/£16700.
I started 4 months ago and have cleared 12% of my debts.
Debt free for me doesn't include the mortgage - that will be step 2 😜 credit cards is step 1 which is in progress.
I downloaded 'debt payoff planner' (android app) in March and I really like it. It tells me how much to pay to each account every month, and sets out goals along the way (I.E. when a certain debt is cleared).
This isn't very exciting so I'm not sure anyone will find or read this, but that's OK. It's just a bit of personal accountability.
I get really excited each month when I get paid and go on and clear around £500 of debt each month.
Onwards and upwards!
Currently cleared £2022/£16700.
3
Comments
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The app sounds interesting and paying off 12% in 4 months is awesome. That presumably means 36% over the year. Is your budget under control and do you have emergency savings ?I look forward to seeing your progress.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 forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
Save £12k in 2026 Challenge £12000/£2000
365 day 1p Challenge 2026 £667.95/£110
Click on this link for a Statement of Accounts that can be posted on the DebtFree Wannabe board: https://lemonfool.co.uk/financecalculators/soa.php2 -
I'm fairly happy budget wise that I have enough to do the things I want each month and buy things for the family or house if we need them. We've got a trip coming up at the end of the year which is very exciting and falls within the budget (putting a couple of hundred away each month already).enthusiasticsaver said:The app sounds interesting and paying off 12% in 4 months is awesome. That presumably means 36% over the year. Is your budget under control and do you have emergency savings ?I look forward to seeing your progress.
Must be around the 36%, and the app says March 2026 I'll be clear.
If I was in a pinch I've got 3k that is my daughters (from me, she's only young so doesn't need it yet) that I could use and replace if something bad happened 🙈 technically it's my money, but I want the savings for her future.
Once I've cleared my cards I'd really like to have 2k at least in my own savings for a rainy day 🤞🏼 and then I'll start overpaying the mortgage!0 -
You are doing well. Another vote here from the app. Really handy to use to project how paying extra makes the differenceJan 18 Joint debts 35,213
Mortgage Jan 18- 77224 Jan 26- just under 64k
June 25 Debts in my name were £5170. Now 5178 (Jan 26)
DH debts ?? at a guess £15k1 -
14.8% now 🙌🏼 slowly but surely!0
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