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    • HairyHandofDartmoor
    • By HairyHandofDartmoor 24th Sep 17, 1:22 PM
    • 5,261Posts
    • 37,040Thanks
    HairyHandofDartmoor
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    • #1
    • 24th Sep 17, 1:22 PM
    Finally Debt Free After 34 Years, But Still Need to Live Frugally 24th Sep 17 at 1:22 PM
    My DH and I have been in debt for 34 Years, apart from brief periods, ever since I was offered my first credit card at the tender age of19.

    Our debts were caused by us being impulsive spenders and not being very skilled at budgeting or managing our money, so we know it is our own fault. We always believed that one day we would have more money, mysteriously, and that this would bail us out .

    Our full light bulb moment came when we realised, "What if we never have any more money than we do right now?"

    A couple of years ago we were coping with the minimum payments, but didn't have enough to overpay on any of them. We were forking out 1300 a month in minimum payments, and the interest alone was 1000 a month .

    But then in 2015 our small business started to bring in less, and a family bereavement, and illness affected our ability to work. We could no longer afford the minimum repayments and we were scared we would lose our home. We were stricken with stress and depression .

    Step Change shone a light in the darkness for us and they arranged for us to make token payments of 1 a month to our creditors. This saved our sanity and we were reassured that our home was unlikely to be taken from us.

    My DH recently turned 55 and drew out his pension so that we could make full and final offers to our creditors. All but one accepted an offer of 50% of what we owed (which is all we had to offer). We are continuing negotiations with the final creditor and hope to be debt free by Christmas .

    Being so close to being debt free has made me realise what a heavy burden the debts have been all these years, like living our lives wearing lead boots.

    Once we are debt free we will still need to live very frugally because we have no emergency fund or savings, and our income can be irregular. I hope that starting a diary will help to focus me on frugal living, avoid impulsive spends, and keep my spirits up. Because frugal living can be a lonely and isolating experience.

    This site and Step Change has helped me so much, and I hope that my diary will help to inspire others that it's never too late to change your life .
    Last edited by HairyHandofDartmoor; 18-11-2017 at 9:49 AM.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = 58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build Emergency Fund & Loss of Income Fund. Save for house repairs.
    "Tough times never last, but tough people do" - Robert H Schuller
Page 222
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 22nd Oct 18, 10:10 PM
    • 5,261 Posts
    • 37,040 Thanks
    HairyHandofDartmoor
    Thank you

    You're lucky that your DH is a good cook. He's a real treasure. If OH was responsible for cooking in this house we'd both starve. Just making toast for himself he ends up with the kitchen full of smoke and all the windows open. Goodness knows what would happen if he was having to cope with a full meal


    I like cooking so it works out OK and OH looks after my car seeing as apart from driving it and knowing how to put petrol in I haven't a clue about anything else that needs doing to it. I wouldn't have a clue how to change a wheel, that's why I'm in the AA. OH checks the tyre pressures, screenwash bottles etc for me every week. He sometimes washes the car for me although not all that often
    Originally posted by carbootcrazy
    DH only cooks on a Saturday night. I hate cooking, but I've always said if you don't like my cooking then feel free to take over .
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = 58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build Emergency Fund & Loss of Income Fund. Save for house repairs.
    "Tough times never last, but tough people do" - Robert H Schuller
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