Hopefully debt free before Mortgage renewal in June 2026

Cara_

Congratulations. You've been so committed to paying off your debt and I agree with debtfreewannabe321 that you can achieve anything you set your mind to.

daisy_1571

fantastic news to read yesterday.  Very well done this year tezza,  you really have put your mind to it and stuck with it this whole year. 

You know now that if you keep to this by this time next year you will have £6500 in your bank accounts.   More than enough to plan your holiday, keep your car on the road and give yourself a bit slack on the monthly amounts you spend on food etc.

Start a regular monthly saver in January,  you will get ones around 5% and the more you load in during the first couple of months the longer it has to gather the interest.  Do it as close to the 1st as you can to maximise the interest.   In January next year you'll have £2400 plus about £80 interest if you go for £200, some allow 250 or 300 a month.  Its a good way to save for a specific thing in 2027 or longer term general savings.  (Saving a monthly amount towards known monthly cost like car tax or house insurance isn't 'savings' thats just your working money,  as you know that in June, or whichever month, you'll have to spend it).  Make interest really work FOR you from now on.

I completely agree with you about exercise for the sake of it, jeezo what a waste of time, drive to the gym, walk on a treadmill, drive home 😆 but you will find exercises designed for 'fit for life' or something like that.  So lifting anything is so you can carry messages home in later life, squats are so you can get up if you slip or fall down a few stairs etc.  I find that a more useful mindset.

Dxxx

Sarahwithlove

Congratulations on being debt free you've done great with it. 

Personally if you can get a rate under 3.5 I'd fix for 5 years for the security but that's just me. You have time to decide and even if you choose one before you can keep changing right up until last minute. 

Sun_Addict

Well done getting debt free, amazing achievement. Exercise wise do something you enjoy whatever that may be. Plenty of free workout videos on UTube and FitOn is a great free exercise app with something for everyone at all levels. And it’s never too late, I have friends who didn’t start exercising until their late 60s. 

Tezzadp

Todays daily payment = ZERO !!!! 😆🤣🤣🤣🥳

Thank you all for you lovely comments, i love taking time to read them all. I hope you all had a fantastic Christmas. 

Tezzadp

                        

Sun_Addict

Tezzadp said:

Todays daily payment = ZERO !!!! 😆🤣🤣🤣🥳

Thank you all for you lovely comments, i love taking time to read them all. I hope you all had a fantastic Christmas. 

This is spot on. Although I think you have had a major achievement this year. We’ll let you off if you brag about it 🤣

Tezzadp

          

oceanspirit

Congratulations on paying off your debt.  I wish you all the best for 2026 and hope you will continue to post the next stage of your debt busting (the family loan), mortgage renewal and savings journey.

Spendless

Well done Tezz. Does your family member want the loan back in 1 lump sum? Understandable if they do, but if they are ok with waiting you could do  this up over the next 2 years. That would give you some breathing space to build your emergency savings back up, create pots for the big ticket bills (eg insurance) and deal with the mortgage renewal.