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The Debt Free Roll Of Honour

edited 17 December 2018 at 1:03PM in Debt-Free Wannabe
1.9K replies 690.7K views
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  • Robi90Robi90 Forumite
    101 posts
    Debt-free and Proud!
    The date of your lightbulb moment

    Around summer 2017. I asked my bank to increase my overdraft and the customer advisor warned me about my spending which was always closed to the limit. I just knew I had to change how I managed my finances. I went on a free CAP money course which was so helpful. I

    Debts at their highest

    About £7000. (Mostly credit card debt but there was also a personal bank loan and an overdraft in there)

    Debt-Free Date

    29/04/19

    Your one pearl of wisdom.

    Adopt a strategy/plan for paying off your debt and just be consistent.


    Which forum threads helped you
    The challenges i.e Pay off all your debt by XMAS 2018/19 and 1 debt vs 100 days.

    I also used to lurk on this thread (debt free roll of honour) for motivation :A
    [STRIKE]£799 - FD Personal Loan[/STRIKE] :beer:[STRIKE]£500/ £500 FD Overdraft[/STRIKE] :beer: [STRIKE]£5700/£5700 MBNA credit card[/STRIKE]:beer:
  • beanieloubeanielou Forumite
    71.6K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    Robi90 wrote: »
    The date of your lightbulb moment

    Around summer 2017. I asked my bank to increase my overdraft and the customer advisor warned me about my spending which was always closed to the limit. I just knew I had to change how I managed my finances. I went on a free CAP money course which was so helpful. I

    Debts at their highest

    About £7000. (Mostly credit card debt but there was also a personal bank loan and an overdraft in there)

    Debt-Free Date

    29/04/19

    Your one pearl of wisdom.

    Adopt a strategy/plan for paying off your debt and just be consistent.


    Which forum threads helped you
    The challenges i.e Pay off all your debt by XMAS 2018/19 and 1 debt vs 100 days.

    I also used to lurk on this thread (debt free roll of honour) for motivation :A

    WEll done :)
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "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.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • edited 1 May 2019 at 9:12PM
    milannmilann Forumite
    3.9K posts
    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
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    edited 1 May 2019 at 9:12PM
    LBM - 2006 when critically ill in hospital - I was more worried about my debt (nobody knew about it) than being ill

    Debt free date - April 2019

    Debts at their highest - no idea - I couldn’t look - over £20,000

    Pearl of wisdom - don’t set unrealistic goals or compare yourself to others. I aimed to move in the right direction

    Which thread helped - debt free Wannabe and diaries. The encouragement on there really keeps you going. I followed Beanies advice and ‘kept plodding’ and ppi template letter - we got £8,000

    I was debt free a year ago and had a blip on a 1 off purchase but it’s for keeps this time:money::money::money::T:T
  • beanieloubeanielou Forumite
    71.6K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    milann wrote: »
    LBM - 2006 when critically ill in hospital - I was more worried about my debt (nobody knew about it) than being ill

    Debts at their highest - no idea - I couldn’t look - over £20,000

    Pearl of wisdom - don’t set unrealistic goals or compare yourself to others. I aimed to move in the right direction

    Which thread helped - debt free Wannabe and diaries. The encouragement on there really keeps you going. I followed Beanies advice and ‘kept plodding’ and ppi template letter - we got £8,000

    I was debt free a year ago and had a blip on a 1 off purchase but it’s for keeps this time:money::money::money::T:T

    Hurrah Millan:T:T:T:T:T:A
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "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.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • supersaver1000supersaver1000 Forumite
    2.5K posts
    Part of the Furniture 1,000 Posts Name Dropper Debt-free and Proud!
    ✭✭✭✭
    Robi90 wrote: »

    Your one pearl of wisdom.

    Adopt a strategy/plan for paying off your debt and just be consistent.

    That's hit the nail on the head for me! It's exhausting sometimes but the only way. Well done everyone!!!
    OSWL (start 13st) by 30Jun20 6/10
    £1/day Xmas'20-62 £214/£366 saved
    Grocery Challenge Jun £742/£320 spent
    Homeowner wannabe by July 2020 - WooHoo!!
    Starter Emergency Fund £1000/£1000 saved
  • GlendaSugarbeanGlendaSugarbean Forumite
    689 posts
    500 Posts First Anniversary Photogenic
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    LBM: I've had a few over the years. 2013 when I realised I was deep into my OD every month and was spending more than I earned. Got a 0% credit card to clear it, but then kept adding bits and pieces on. Jan 2018 we had notice to move from our rented house, were looking at a rent increase of over £200/month for a similar property and no savings. Thanks to help from family and a good hard look at the finances, we were able to buy a house, pay off the CC and start saving.

    Debt at its highest was close to
    £3000, but bounced around that level for years despite repayments. Windfalls came in but were frittered away :(.

    Paid off: February 2019 :)

    Pearl of wisdom: you aren't budgeting if you aren't tracking your spending! YNAB was a lifesaver. Also, Tilly tidying and making small payments to debts really adds up - I was able to repay my CC 3 months earlier than planned.

    Threads that helped you: the Ninja Saving Turtles, and lurking on others' diaries. Now I'm saving an EF, the 3-6 month EF challenge.
  • Lightbulb moment was September 2014, when our debt was at £40,000 :eek:. My husband and I spent money on our credit cards all the time when we were young and daft and the companies kept putting our limits up. We were ok for a while, but then a new baby and 2 redundancies in a year changed everything, and the party was over.

    Debt Free Date: Tuesday 7th May 2019. The weird thing is I thought I would be over the moon, but I am shellshocked and terrified. I have learned a lot of lessons, but I will always have to keep myself in check I think.

    Pearl of Wisdom: Ask for help, the sooner the better. Organisations such as Step Change and CAP have heard it all before. And remind yourself that even though you have made mistakes, at least you are doing something about it now.

    MSE is a great source of advice and support
    LBM: September 2014
    DMP Start: 1 December 2014 / 13 Creditors
    Debt: £39,464.86
    Current Debt: £0 - well ok I have a mortgage
    DFD: 7th May 2019
  • mumof3.12kindebtmumof3.12kindebt Forumite
    752 posts
    500 Posts Third Anniversary Name Dropper Combo Breaker
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    Light bulb moment October 2017
    Debt at highest £16,000
    Debt free November 2018

    Words of wisdom
    We did a no spend challenge. Basically only paying bills (which we cut down to essentiala only so no contract phones or subscriptions) and only buying essentials such as food and clothes that are needed. We also have 3 kids so had some school trips etc to pay for too.

    My one peice of advice is remember your why . Why are you doing it ? To help keep focused
    June 2017 £16,000 debt ~ Nov 2018 DEBT FREE
    June 2019 Homeowners ~ June 2019 mortgage £123,500.00
  • edited 26 May 2019 at 5:56AM
    debtfreeonedaydebtfreeoneday Forumite
    3.3K posts
    Part of the Furniture 1,000 Posts Name Dropper PPI Party Pooper
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    edited 26 May 2019 at 5:56AM
    Lighbulb moment - August 2008

    Debts at their highest - £64,346.53

    Debt free - February 2019!

    Pearly of wisdom - every single penny makes a difference, cashback sites, loyalty points, using vouchers and logging on here regularly to keep your motivation going.
    DFW (08/08) £64,346.53 Gone for good (02/19)
    MFW (01/15) £68,801.10
  • mumof3.12kindebtmumof3.12kindebt Forumite
    752 posts
    500 Posts Third Anniversary Name Dropper Combo Breaker
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    Can I be cheeky and ask if I can have a debt free and proud badge please :)
    June 2017 £16,000 debt ~ Nov 2018 DEBT FREE
    June 2019 Homeowners ~ June 2019 mortgage £123,500.00
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