I just wanted to say how proud of us I am.

petecov4

We had massive debts - about 60K around 2.5 years ago - Managed to get it all but 3K on 0% interest free for 30-36 months and now we are down to 6K with 18 months to go.. Paying off about 2.5-3K a month so won't be long. We are not struggling either - suprised how much we have to clear the bills and I even manage to still put some away every month, which means the next payment is more.

Going to be a lovely xmas for a change! We will be done November.

This is just a place for me to come back to in the future - WELL DONE YOU!

tacpot12

Well done! Returning to relate the story of your success if so useful to others, and to help yourself see just how far you have come.

I'm so glad you are finding that you can even save more money. Once you have cleared your debt, your discipline will make it easier to save for emergencies, save for inevitable expenses like a new boiler or sofa, and plan for your retirements.

Best wishes for the future!

RAS

Well done indeed.

Amongst other things your experience shows that there are so many ways to tackle debt and what works for one family might work for another, or they might need a different strategy because the second family has different issues to face.

But being able to read about the full gamut helps people understand options.

One suggestion, maybe link to your first post here?

VAP_Driver

Well done, a lot of hard work and self-reflection to get to where you are, I’m sure. But the positive effects will last far longer after the last penny has been paid back.

It’s a really good feeling watching the numbers come down month after month, especially when the end is in sight. But what’s even better is watching the numbers go up in savings, once you’re debt-free and yet still applying the lessons and the attitude to money and debt that you’ve developed.

I’m pleased you’ve taken the time to pat yourself on the back- and so you should!

petecov4

https://forums.moneysavingexpert.com/discussion/comment/82106064#Comment_82106064

Thank you.

Sorry I don't have an original post. I've been doing it all offline for years. Maybe I did it wrong.

petecov4

Thank you.

Down another 4K since I posted that. We will be clear by the middle of September. Nothing else after that we oen the home and will probably save up for a Motorhome to do some old age adventures in!

Fabulous50

Da iawn / Well done ! What an achievement.

petecov4

https://forums.moneysavingexpert.com/discussion/comment/82118636#Comment_82118636

Thank you!

petecov4

So here is a question. I'm actually in this situation right now.

I have 3 cards left - all are on interest free - do I pay it down in order of amount? Or date 0% is due to end? Or just throw a lot on any one? Or chill out and have a bit of a good month?

RAS

Pay slightly more on the minimum longer date cards and then hammer the one finishing soonest. Providing of course that there's enough time to clear either of the longer date ones if the future APR is vicious.

With all three accounts reducing, your credit records looks better.

petecov4

https://forums.moneysavingexpert.com/discussion/comment/82122327#Comment_82122327

Thanks.

One is next March, one is next September and one is July 2028.

The one for 2028 has the highest balance - and the interest would be 21% when it comes off.

I shifted 14K of 30% interest to that one a year ago - so I did well there I think.