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A note to fellow debt free wannabe's!
afield23
Posts: 16 Forumite
Just been reading through some of these threads and as a fellow person in debt I thought i would mention that debt free can be achieved!
I owed £20k when i was 22 and really had a tough time. I remember thinking I would be OK because I was coping fine paying back minimum payments and still had money to play with. The biggest problem was not thinking ahead. A year later i met my new gf and we soon moved in together.
I started to struggle with money and had to sell my much loved car. I have never had my own car since, and cycle everywhere. I'm much healthier and when i hear people moaning about car repairs, petrol costs etc i realize i'm the winner! I consolidated my loans and credit cards and made a real effort to pay off my debt.
I'm not going to lie i did get tempted with my clean credit card and it slowly crept back on top of the other debt. The final result was i estimate about £22k maybe more.
I now owe about £6k but by really focusing and cutting out the temptations it should be gone within a year. This time next year i will be debt free, and next summer we plan on going to Australia using real hard cash rather than credit!! I am really looking forward to that feeling.
What i'm trying to say is, if you think ahead it can help to put things into perspective, it will give you a goal to go for and it will make you realise how fast time really flies. When you think back and see how quick a year goes, making cut backs and living on bare minimums makes ALL the difference. This time next year i will be back to prove it is possible.
Another important note.
Don't bottle it up. I did many times and it really makes you feel like crap, and it usually ends up hurting the people around you. Be happy, it's only money, life is precious and fun doesn't cost money!!
I owed £20k when i was 22 and really had a tough time. I remember thinking I would be OK because I was coping fine paying back minimum payments and still had money to play with. The biggest problem was not thinking ahead. A year later i met my new gf and we soon moved in together.
I started to struggle with money and had to sell my much loved car. I have never had my own car since, and cycle everywhere. I'm much healthier and when i hear people moaning about car repairs, petrol costs etc i realize i'm the winner! I consolidated my loans and credit cards and made a real effort to pay off my debt.
I'm not going to lie i did get tempted with my clean credit card and it slowly crept back on top of the other debt. The final result was i estimate about £22k maybe more.
I now owe about £6k but by really focusing and cutting out the temptations it should be gone within a year. This time next year i will be debt free, and next summer we plan on going to Australia using real hard cash rather than credit!! I am really looking forward to that feeling.
What i'm trying to say is, if you think ahead it can help to put things into perspective, it will give you a goal to go for and it will make you realise how fast time really flies. When you think back and see how quick a year goes, making cut backs and living on bare minimums makes ALL the difference. This time next year i will be back to prove it is possible.
Another important note.
Don't bottle it up. I did many times and it really makes you feel like crap, and it usually ends up hurting the people around you. Be happy, it's only money, life is precious and fun doesn't cost money!!
:beer:
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Comments
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You have done well
Hope you achieve your goal of DF by the end of the yearI 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*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
Well done you!! So happy for u!!
I looking forward 2 being DF 2 xDebt Nerd No : - 882
"Proud to be dealing with my debt" :money:0 -
Wow you have done really well, to pay all that off.
Best wishes
Ally xOfficial DMP Mutual Support Club Member No 300 -
well done on your achievements:D£2 savers club 2025 #40
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Lovely post, afield, thanks and well done.Total debt: 1 January 2007 £[strike]49,387.79[/strike] 1 January 2012 £[STRIKE]19,312.85[/STRIKE] 1 August 2012 £11,517.620
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Well done!! I've got the same ambition for Australia in January 09, although like you say, blinkin' car repairs, MOT and service to be done since then so who knows if it's just a pipe dream for me.Almost debt-free, but certainly even with the Banks!0
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well done you! Keep up the good work & you'll be there in no time!Nerd no 109 Long haulers supporters DFW #1! Even in the darkest moments, love and hope are always possible.0
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There must be something about being debt free & Australia, cos that's where I plan to go when I've paid everything off, hopefully in around 2 years or so.
However, if I wait for about 5 years, I will have enough airmiles (20,000) for 2 free flights to Sydney. That will be the total price, as they've stopped adding on taxes & charges etc now. That seems pretty DFW to me.
Oh, & well done afield23.Donedoingdebt Lightbulb moment January 2000. Debt at highest approx £102,000. Debt now (October 2009 - absolutely fork all!!!):beer:
CSA case closed on 02/09/10 :beer::beer:0 -
Some wise words and a salutatory shot across the bow for us all. Well doneThis is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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