When's your Debt Free Date?
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I'm aiming for December 31st 2017, although I'm hoping to buy a house this year but don't plan to count the mortgage in at the minute. Here's hoping by getting back into my MSE ways (I've been MIA for over a year) I can shave some time off that.LBM 03/07 £44k:eek: DFD 31/12/17 :A 12/17 £2545.50
Credit Card £2500.00 & Next £45.00
Savings = £81.21 & Help To Buy ISA = £4700.000 -
I was hoping for Oct 2017 but I've had to reduce payments so its JUly 2018 - but I'm working on it stillDebt -it's a fight that I'm winning, dealing with debt one day at a time.
Estimated DFD August 2018 - 2031 - now 2027 :T
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Good luck (and good debt busting!) everybody.
I'm hoping to be debt free by September 2014.0 -
My aim is February 20150
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i really do want to be debt free at some point in my life would be a nice feeling. a real struggle with OH but i am trying my best.
what is the best way to work out your debt free date? (thick question lol)
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My DFD is 25th December 2014
Debt: £36,464 :eek:
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what is the best way to work out your debt free date? (thick question lol)
Hi smiffy.
A lot of people calculate it on a snowball calculator (entering details of your debts and what you pay off them each month).
http://www.stoozing.com/calculator/snowball-calculator.php
Other people have it calculated on spreadsheets but the above is a good starting point.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
It "only" took me 10 years to realise that after all my outgoings (which include £450 of debt repayment) have gone, I could still have £1,000 left a month!! So I tried this month (January 2014) after having had my LBM on NYE! I'm glad to report that as of today: 27.01 I still have £1,031 left in my account! And will be paying a grand towards my debt at the end of January.
I've also transferred money from a CC to my OD, so no more paying interest for nothing there! Cannot guess for sure my DFD yet... but hoping to pay at least £390 regular debt repayment + £710 debt overpayment pcm!
Using Tixy's snowball calculator above, I should be debt free in about 2 years!! That is without counting my freelance business money, and any of my wine and art investments I may sell on top. Cheers!________________________________________________LBM 31/12/13: CC1 £11,000 | CC2 £6,330 | CC3 £3,400 | OD £4,000Total £24,7300 -
Just used the snowball calculator... mine is 25 months away, I feel very blueCC1 = [STRIKE]£10,323[/STRIKE] £8,200
CC2 = [STRIKE]£8,437[/STRIKE] £0
Loan = [STRIKE]£3200[/STRIKE] £0
Total = [STRIKE]£21,960[/STRIKE] £8,200
£10/day challenge: £100 -
Countingdownthedays mine too is roughly the same date as yours. Just look at it as 25 payments not 25 months. It doesn't sound as bad. Thats what I am doing.
Good luck with it0
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