Mizmir's determined to get there diary

in Debt Free Diaries
1.2K replies 29K views
Apologies for yet another DFW diary but I really need somewhere to keep me going and focused - and I can't hijack Hypno's any more! (Though will still be there regularly for inspiration).

First the confession - I have been in debt for most of my adult life. Started with having to move for work with about £8K negative equity in the 1990s and has built into more of a way of life.

But I have reached my limit on it. I am in a well paid job (policy in adult education field) as is OH and we have an embarrassingly good joint income (will do a new SOA tomorrow - have a day off and am going to set everything in order for our new regime). But we are also badly in debt in spite of paying it all off a couple of years ago. I haven't calculated the final figure yet (another job tomorrow) but I know it is over 20K.

Work is well paid but terribly stressful - no end to hours, working many evenings and weekends etc. and in the last year I have been scarily close to "the edge" - I can't keep it long term. So I am working on an alternative - in animal training- which I have been doing for years as a part time voluntary activity and which is my passion. It is starting to look viable as a business but it is never going to generate the income I am currently on. So we really need to become debt free and reduce our outgoings. My OH is very supportive in this and I have set myself a goal of a year in which to reduce my current contract to part-time and two years to go the whole way.

So I also need to be debt free within a year and save a cushion to allow me to go self employed full time securely - so my goal is to save/make £50K over the next two years. I will need all the help I can get!

First steps: new SOA, new budget, new snowball. Then I will be going to the comparison sites and checking all our current costs to see what savings we can make. We are going to try for a store cupboard month. And I am rounding up all I can for eBay, Amazon, car boots. More tomorrow then.
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Replies

  • mizmirmizmir Forumite
    3.7K Posts
    Debt-free and Proud!
    Ok refreshed from a good night's sleep and raring to go. Jobs for today (off work):
    • New SOA
    • New budget
    • Check comparison sites
    • Check 0% credit cards
    • Plan meals
    • Find eBay stuff
    • Mow lawn!

    Better get on - more later.
  • paniapania Forumite
    8.3K Posts
    ✭✭✭✭
    WOOOO Mizmir's got a diary!!! canine training is the field i sm moving into also! maybe we can chat for inspiration on the way.

    Happy new diary and enjoy your debt free journey!!
    debt @05/11/11 £12210.63!! slowly chipping away!!
    :heart2:impossible is nothing.:heart2:
  • REDMADCURLSREDMADCURLS Forumite
    3.8K Posts
    ✭✭✭✭
    The very best of luck mizmir I too would love to be self employed and I have an idea but as you say the lack of security etc etc.
    Look forward to keeping up with your diary

    RMC
    LBM Feb 2010 £62,700 Total Debt Jan 11 [STRIKE]£49,403.84[/STRIKE] £47,530.32.
    (CC/LOAN = [STRIKE]36,378.98[/STRIKE] 35668.47. O/D = [STRIKE]1255.32[/STRIKE] 1212.35/[STRIKE]1999.78[/STRIKE] 1934.52, BUS = [STRIKE]9769.76[/STRIKE] 8714.98)
    Challenge = Debt at 31/01/12 = £25k. 2011 Payments = £1,944.19/£24,403.84

    There is no point in negative thought, it takes up time and energy which could be used in a positive, happy way!
  • mizmirmizmir Forumite
    3.7K Posts
    Debt-free and Proud!
    pania wrote: »
    WOOOO Mizmir's got a diary!!! canine training is the field i sm moving into also! maybe we can chat for inspiration on the way.

    Happy new diary and enjoy your debt free journey!!

    Wow - how exciting that you are also into dog training P. Definitely let's chat about it. Will PM you later if that is OK - don't want to say too much on the public board in case I become too identifiable - employers don't know about my plans and I suspect it would not go down well!! But would love to compare notes about what we are doing/planning. Talk later - am off to mow the lawn now in case it rains later!
  • mizmirmizmir Forumite
    3.7K Posts
    Debt-free and Proud!
    The very best of luck mizmir I too would love to be self employed and I have an idea but as you say the lack of security etc etc.
    Look forward to keeping up with your diary

    RMC

    Hi RMC - yes the insecurity worries me I have to admit. It helps to know that we have one salary coming but we also have big outgoings on mortgage etc (as SOA later will show) so I would need to make at least half of what I do now (if DF). I am lucky in that our organisation does allow fractional contracts so I can do the thing gradually and build it up. I am trying to put together a "portfolio" of related income generating stuff so that I am not solely reliant on one thing.

    The bottom line though is that I want to enjoy my life more than I am now. I have a fantastic partner and 3 fab dogs and an extended family and great friends all of whom I would like to spend more time with. I am conscious that I am in a stressful job which doesn't give much time for physical exercise - I eat bad stuff on the hoof far too often - ie. am not doing my long term health any good. And I can't pretend I am 20 anymore and can get away with self-abuse!! :rotfl::rotfl::rotfl:

    Heard someone say the other day that managing time and spending it wisely was the most important priority - even over money - because though money could always be earned again - you can never get your time back. The guy who said that is dying of cancer in his early 40s. Sobering.

    So I have to make this happen - and first things first the debt has to go!

    But the grass seems to be getting longer even as we speak so off to do that then back to my SOA. :)
  • The_DragonThe_Dragon Forumite
    9.7K Posts
    mizmir wrote: »
    Apologies for yet another DFW diary but I really need somewhere to keep me going and focused - and I can't hijack Hypno's any more! (Though will still be there regularly for inspiration).

    First the confession - I have been in debt for most of my adult life. Started with having to move for work with about £8K negative equity in the 1990s and has built into more of a way of life.

    But I have reached my limit on it. I am in a well paid job (policy in adult education field) as is OH and we have an embarrassingly good joint income (will do a new SOA tomorrow - have a day off and am going to set everything in order for our new regime). But we are also badly in debt in spite of paying it all off a couple of years ago. I haven't calculated the final figure yet (another job tomorrow) but I know it is over 20K.

    Work is well paid but terribly stressful - no end to hours, working many evenings and weekends etc. and in the last year I have been scarily close to "the edge" - I can't keep it long term. So I am working on an alternative - in animal training- which I have been doing for years as a part time voluntary activity and which is my passion. It is starting to look viable as a business but it is never going to generate the income I am currently on. So we really need to become debt free and reduce our outgoings. My OH is very supportive in this and I have set myself a goal of a year in which to reduce my current contract to part-time and two years to go the whole way.

    So I also need to be debt free within a year and save a cushion to allow me to go self employed full time securely - so my goal is to save/make £50K over the next two years. I will need all the help I can get!

    First steps: new SOA, new budget, new snowball. Then I will be going to the comparison sites and checking all our current costs to see what savings we can make. We are going to try for a store cupboard month. And I am rounding up all I can for eBay, Amazon, car boots. More tomorrow then.

    Well done mizmir! I also got into debt with negative equity but cleared that 6 years ago - now I just have a CC to clear which I would like to do within a year!

    Best of luck with the debt busting AND with hopefully becoming self employed!
    Do not meddle in the affairs of Dragons, for thou art crunchy and good with catsup :D
    NSD 15/20, OS WL 21-6 (4) :(C.R.A.P R.O.L.L.Z #44 Twisted Firestarter, VSP #57 - £39.43
    :p Every Penny's a Prisoner :p
  • takataka Forumite
    3.5K Posts
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    ✭✭✭✭
    Good luck Mizmir!
    Mortgage free as of 12/08/20!
    MFiT-5 no 45
    You can't fly with one foot on the ground!
  • mizmirmizmir Forumite
    3.7K Posts
    Debt-free and Proud!
    Well done Dragon on clearing so much of your debt - and good luck with the last bit - am sure you will get there.

    Well have mowed the front lawn (as best you can when it is a foot long in places! :o) so the neighbours won't hate us anymore (everyone around here is retired and spends all their time tending their gardens so we are something of a disappointment in that department). Will do the back later but that is less of a problem as noone can really see it and the dogs have worn half of it down to earth anyway!).

    Now tackling the SOA. Have gathered all my financial documents together and am ready to go. Wish me luck. Be back later with the damage.
  • mizmirmizmir Forumite
    3.7K Posts
    Debt-free and Proud!
    taka wrote: »
    Good luck Mizmir!

    Thanks Taka - will need it I think! :)
  • The_DragonThe_Dragon Forumite
    9.7K Posts
    mizmir wrote: »
    Well done Dragon on clearing so much of your debt - and good luck with the last bit - am sure you will get there.

    Well have mowed the front lawn (as best you can when it is a foot long in places! :o) so the neighbours won't hate us anymore (everyone around here is retired and spends all their time tending their gardens so we are something of a disappointment in that department). Will do the back later but that is less of a problem as noone can really see it and the dogs have worn half of it down to earth anyway!).

    Now tackling the SOA. Have gathered all my financial documents together and am ready to go. Wish me luck. Be back later with the damage.

    Thanks Mizmir and best of luck with the SOA!
    Do not meddle in the affairs of Dragons, for thou art crunchy and good with catsup :D
    NSD 15/20, OS WL 21-6 (4) :(C.R.A.P R.O.L.L.Z #44 Twisted Firestarter, VSP #57 - £39.43
    :p Every Penny's a Prisoner :p
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