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  • FIRST POST
    • MSE Martin
    • By MSE Martin 26th Oct 06, 4:03 PM
    • 8,111Posts
    • 42,248Thanks
    MSE Martin
    The Debt Free Roll Of Honour
    • #1
    • 26th Oct 06, 4:03 PM
    The Debt Free Roll Of Honour 26th Oct 06 at 4:03 PM
    Update Jan 2018. We started this Debt Free Roll of Honour back in 2006 and since then there have been some fabulously inspiring stories, which you'll see if you read below.

    To read the most recent debt-free announcements click the double arrow above to head to the last page of the discussion

    Back to Martin's original post...

    ---

    Welcome to the Debt-Free Roll of Honour.

    This is for Debt-Free Wannabees who are no longer Wannabees.

    Please report

    a. The date of your lightbulb moment
    b. Debts at their highest
    c. Debt-Free Date
    d. Your one perl of wisdom.
    e. Links to the MSE guides that helped you
    f. Which forum threads helped you
    g. And if you had a debt diary on the Debt-Free Wannabe board (DFW), a link to it

    And huge congratulations

    Martin

    PS Please no one else post - let's keep this a pure record of successes

    PPS Please come back to let us know Debt-free No Longer Wannabes - What they did next" discussion to tell us what you've been up to."



    Past Debt Free No Longer Wannabes (huge congratulations)

    2016 TOTAL: 85

    OxfordGirl, datlex, sentientpoet, austonic, muppets, NJS2016, Bipolar_debt, monz, ab_saver, Money_Muppet , retiredandskint, lambda, Princesssparkle, Onmyway2, Seasidegal58, QuietOne, Willowpop, daveg10, NewcastlePaul, eco farmer, SpekySquarehead, C&S, Gazza1964, naff123, pineconesjay, lsmcal1984, blu3sky, villemo84, mesci, Honeylife, Karma67, timefortea, chocoholic_chick, purpleposting4, dangerpowers, e4rub, starnac, Carviscocker, Fender4, dolly84, Brightspark87, hoglet121, Bored, devon-tony, mrsbee17, Tony_, stekka, Kate_fixing_it, Gladioli, HornetSaver, sistercas, Tiglath, moneycantbuyyouhappiness, RosaBernicia, Catwoman_2015, Baldybear, Muhren, please-let-me-be-lucky, gig11, skilly, heartbreak_star, Frith, CornishMaid, tizerbelle, Ronoir,
    takingcareofthepennies, Mysteek, Sillygal, laura84gr, medusasmummy, depressed_but_determined, Soph86, princess_pea, bookworm262, Hobbes1, glentoran99, NoStrangerToDebt, CapricornLass, Serafine, 2spicy, mc2705, AshB123, koselur, mothernerd, BrandNewStart[/SIZE][/B][/COLOR]

    2015 TOTAL: 115!!

    nannygladys, beckle_82, neuromancer, Alpedro, Aphidgirl, LotsToDo, stewby, Pepperoni, Squarehead76, nonnynonny, danant, DML1954, mrshughes86, Blinky2010s, Rachiedabbler70, Playing with Fire, katy_ann, lexbubbles, diamonds, andy1886, stiltoncheese, looby1975, shofer, Karb, kittypimms, Growurown, Want_to_be_free, crazy_cat_lady, David123456, FinallyGettingFree, malnuman, ShirePiskie, black cat, boring1, kremmen, BlueEyedGirl, antonia86, ice_babe, Apple Crumble, LittleDutchgirl, natsplatnat, her_welshness, dads_albums, supersavor, KONG, HomeAlone, kerryallc71, fredtheguava, xxxJOJOxxx, The Only Girl, uncreative, NeverAgain2, Penny Bridge, boot13t, lemanie, gree0115, cakeforbrains, hydrangea, Cynical Monkey, tripled, ShopaholicNumber1, Lwsi, CrazyKitten, Nargleblast, kirstle99, Polly Wolly Doodle, SMGee, D3P0, MissShoes, kb_soma, Chimping, StrawberryJam132, maria3104, happycrafter, bassitt74, Ratison, GingerFurball, Tammy2, NewlyFrugalMumof3, cottage_retreatist, boucho11, *zippy*, MNM2903, allydowd, joee, Zabki, 7roland8, naughtymonkey, babyplum, NorthernMonkey1, Time to face the music, melwright, Daerve, johnboyinsole, Ali-OK, thewalrussaid, kika, Skinnylatte, fevlo, Seanymph, Smedley, poohbear59, happybunny86, spot3, xxlouisexx56 , Idollic, hannah2010, MrWillyWonka, Getmeoutofdebt, powellypowelly, AlexLK, Laconic, cluckyhen, rising from the ashes, KirstyO

    2014 TOTAL: 92

    2013 TOTAL: 81


    This Forum tip was included in MoneySavingExpert.com's weekly email!
    Last edited by MSE Andrea; 12-01-2018 at 12:07 PM.
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.

    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.

    Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
Page 91
    • zippygeorgeandben
    • By zippygeorgeandben 1st Sep 18, 10:44 AM
    • 951 Posts
    • 1,303 Thanks
    zippygeorgeandben
    a. The date of your lightbulb moment

    1st September 2016 however I didn't know I needed a LBM until the first few posts from MSErs on my sticky, politely asking me to think about whether I really needed that consolidation loan. So actually maybe the LBM happened within the first two pages of my sticky, not sure which MSEr should get the actual credit though!

    b. Debts at their highest


    £19766.82 (however I will also add that I have paid off my student loans during this time also, which was £3856.72) so you could say the total debt was 23623.54.

    c. Debt free date

    31st August 2018

    d. Your one pearl of wisdom

    You must ensure that you track your spending EVERY SINGLE DAY. It's like dieting, if you take your eye off the ball and the bigger picture/long term goals, it is so easy to fall back into the cycle which brought you onto MSE in the first place.

    e. Links to the MSE guides that helped you

    N/A

    f. Which forum threads helped you

    DFW boards and loans - if anything just for a wake up call and realising that others were starting a journey of discovery and I was already on that road.

    g. And if you had a debt diary on the Debt-Free Wannabe board (DFW), a link to it

    I didn't have a diary but my sticky at the top of the loan board ended up kind of being my diary. It's just ironic that I wanted to be a DFW but didn't know at the time! (Hence it being on the loan thread, which is pretty funny actually!)
    Last edited by zippygeorgeandben; 01-09-2018 at 10:47 AM. Reason: Adding more information
    Savings End November 2018 £2267.13
    September 2018 £986.09
    October 2018 £1254.04
    November 2018 £27.00
    December 2018
    January 2019
    • Standingtall
    • By Standingtall 10th Sep 18, 12:51 PM
    • 577 Posts
    • 894 Thanks
    Standingtall
    Whoop whoop .... made it

    Answers
    LBM was back in 2012. I had been promoted at work and was told I was been flown out to Argentina in two days! I was struggling to work out how to pay for my expenses before I could claim them back! My credit cards were all full and, although I had a works Amex it did not work everywhere!
    My debts were around gbp19k
    I then contacted PayPlan who were recommended by a counselling line available through work. They set me up paying gbp100 per month to start. Debt free date was somewhere around 2025 (minimum). I kept this up and just increased around gbp20 a month. Then, due to a change in circumstance (remarried so two household incomes) I have been able to blast the debt this final year at gbp450 per month

    My pearl of wisdom is to allow yourself enough money to live. I will not lie when I say I exaggerated my expenses. I thought initially that I would be paying this back into retirement and there was no way I was going to have my time with my children spoilt. I massaged the figures shamelessly and justified doing so by knowing I could have gone for an IVA or full and final settlements rather than choosing to pay my debts in full. Remember a DMP is an informal agreement so you do have some leeway. I think my creditors accepted by plan simply because I always managed to increase it annually.

    The entire site has been my saviour and Martin Lewis my god.

    I do have a credit card now but the balance never exceeds my savings. I use it for the protection it provides rather than it making me itís prisoner.

    Good luck everyone xxxxxxxx

    ST xx
    LBM August 2011. DFD somewhere post 20252022
    Total debts October 2011 circa GBP 17,700 September 2018 GBP 0 DMP with Payplan
    What doesn't kill you makes you stronger
    • cookyy2k
    • By cookyy2k 24th Sep 18, 6:00 PM
    • 73 Posts
    • 67 Thanks
    cookyy2k
    Finally free!

    a. The date of your lightbulb moment
    Sometime in March 2013, when I realised I could not afford food and none of my "shift it around" tricks would work to stop the calls/letters anymore.

    b. Debts at their highest
    About £11k

    c. Debt-Free Date
    08/09/2018

    d. Your one pearl of wisdom.
    Stick to your budget no matter what is going on around you. Learn to say no to your mate's spontaneous invites to things like the pub where the budget gets blown.

    e. Links to the MSE guides that helped you
    None really, I just checked back often and read about other's journeys.

    f. Which forum threads helped you
    See above.

    g. And if you had a debt diary on the Debt-Free Wannabe board (DFW), a link to it
    I didn't.
    • BillEatsCrisps
    • By BillEatsCrisps 6th Oct 18, 2:53 PM
    • 16 Posts
    • 49 Thanks
    BillEatsCrisps
    I have paid my last credit card debt off today
    It does feel good!
    • csarina2
    • By csarina2 13th Oct 18, 7:12 PM
    • 2,367 Posts
    • 24,517 Thanks
    csarina2
    Cannot remember my exact LBM some years ago, decided about 2 years ago to start paying extra on my cc and a loan I had.....all clear by july 2017!!
    • CAPTAIN PLANET
    • By CAPTAIN PLANET 25th Oct 18, 11:50 AM
    • 2 Posts
    • 9 Thanks
    CAPTAIN PLANET
    I just want to say well done to everyone on here trying!

    Many of you are proving that it is possible with enough motivation to beat your debts and gain even more control over your finances!
    • Bacman
    • By Bacman 2nd Nov 18, 12:06 PM
    • 40 Posts
    • 46 Thanks
    Bacman
    My wife and I took out a mortgage in 1996 and I insisted with the bank to have the longest interest-only mortgage we could get. We couldn't make changes to the policy until after the first 5 years, on that day we went in and after saving very hard for 5 years managed to pay half of the mortgage amount so took out a repayment mortgage (longest term again to pay less interest per month) and ploughed everything we could into it. Bottom line is we paid off the mortgage in full on the house in 8.5 years from start. No luxuries, everything we earnt went into paying off the mortgage as it was cheapest overall to do that.

    We later sold our house and bought a flat which was far cheaper, meaning we could retire early.

    I also have gained over £80 on Checkoutsmart and have about half that on Topcashback.

    So kind moderators, could I please have the following badges please? Thanks very much!
    • The_Analyst
    • By The_Analyst 17th Nov 18, 8:57 AM
    • 70 Posts
    • 102 Thanks
    The_Analyst
    a.The date of your lightbulb moment
    Sometime around June 2011. We found out my wife was pregnant with an unplanned 3rd child. This threw me in to a blind panic as the previous 2 periods of maternity leave had stretched our creditworthiness (and available credit) to the absolute limit. By now we were only just treading water and the prospect of losing half of our income for 9 months meant losing our home would be a real possibility
    b. Debts at their highest
    £47,352.19
    c. Debt-Free Date
    16th November 2018
    d. Your one pearl of wisdom.
    Face up to it. Don't hide from your debt. As soon as you face up to it you are on the road to being debt free. It may feel like this day will never come but it will
    e. Links to the MSE guides that helped you
    Stupidly I didn't really use this board until I was close to the end.
    f. Which forum threads helped you
    'Debt-Free Wanabee'
    g. And if you had a debt diary on the Debt-Free Wannabe board (DFW), a link to it
    August 2011 - Total Debts - £47,352.12
    November 2018 - Total Debts - £0
    • The_Analyst
    • By The_Analyst 17th Nov 18, 8:59 AM
    • 70 Posts
    • 102 Thanks
    The_Analyst
    I was supposed to debt free on 1st Dec but my eagerness took over and decided to make my final payments to Idem and PRA early so I could feel that amazing feeling of FINALLY being debt free
    August 2011 - Total Debts - £47,352.12
    November 2018 - Total Debts - £0
    • andydg
    • By andydg 20th Nov 18, 10:58 PM
    • 3 Posts
    • 8 Thanks
    andydg
    I was £28k in cc debt when I had my lbm in 2010. I became debt free in about 4 years, with everything paid off. I can't find my posts in here because I didn't log in for a while and forgot my id. I did have a bit of a wobble after buying a car using an interest free cash transfer but glad to say I do have it under control. I do have cc debt on 0% and fortunately enough savings to cover it. Hope every one hangs in and doesn't panic, it's a horrible place to be but you can get out of it. I'm hoping I can pop in and offer some advice, just because I've been there, done it, had the stress the worry and eventually dug my way out, debt is a darkness but it does lighten.
    ....been here a while but forgot my id as I hadn't logged in for a while after I got debt free...
    • Finchy2018
    • By Finchy2018 25th Nov 18, 3:39 PM
    • 92 Posts
    • 66 Thanks
    Finchy2018
    My lightbulb moment was in 2010. I had approx 10k of debt in my name and nothing to show for it. My ex convinced me to take out credit cards and loans and give him the miney...silly silly girl I was back then.

    It's been a long road but I became debt free in the first quarter of this year. I kept so much of this debt secret from my family.

    Things have changed so much, I'm in the process of buying my first home (this once seemed impossible) I have money at the end of each month and I now responsibly use credit. (Barely use it at all but if I do it's sensibly)

    It's so nice not to fear the post anymore!
    • MSE Tine
    • By MSE Tine 26th Nov 18, 3:54 PM
    • 34 Posts
    • 77 Thanks
    MSE Tine
    Shhhhhh there is a Badger about

    • beanielou
    • By beanielou 26th Nov 18, 5:45 PM
    • 58,913 Posts
    • 244,595 Thanks
    beanielou
    Shhhhhh there is a Badger about

    Originally posted by MSE Tine
    Oh good
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "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.***
    • elainemn
    • By elainemn 29th Nov 18, 11:07 AM
    • 3,619 Posts
    • 52,801 Thanks
    elainemn
    Just payed off my credit card bill so am finally debt free 29/11/18.
    • fermi
    • By fermi 29th Nov 18, 12:14 PM
    • 39,657 Posts
    • 47,630 Thanks
    fermi
    Just payed off my credit card bill so am finally debt free 29/11/18.
    Originally posted by elainemn
    Congrats. And a badge already"
    I'm a Board Guide on the Debt-Free Wannabe, Bankruptcy, Credit Cards and Loans boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com

    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
    • lhead123
    • By lhead123 1st Dec 18, 8:59 AM
    • 285 Posts
    • 1,214 Thanks
    lhead123
    We've only gone and done it!!
    Finally, We're DEBT FREE!! and it feels AMAZING!

    The date of your lightbulb moment : about 7 years ago when I first started using YNAB

    Debts at their highest: £5143

    Debt-Free Date: 1st December 2018

    Your one perl of wisdom: Don't stick your head in the sand, be honest with yourself, your spouse/partner, your friends and your family.

    Which forum threads helped you: The Debt free Wannabe area, and the Old Style Moneysaving threads.


    I still can't believe we've done it. It feels amazing! Now it's time to not go crazy, and start saving for a new-to-us car, and eventually our own home!

    x
    DEBT FREE SINCE DECEMBER 2018
    Two things essential for my organisation and my sanity - my planner and YNAB
    • Dolly Rocker
    • By Dolly Rocker 4th Dec 18, 10:03 AM
    • 4,249 Posts
    • 12,338 Thanks
    Dolly Rocker
    Lightbulb moment happened for me on 25th January 2018.

    Debt at its highest was £12,754.09.

    I paid my last debt payment on Friday 30th November 2018.

    My one pearl of wisdom would be to keep the focus even when it feels like you are never going to get there. Also to accept the help and support of people who are willing to give it to you. I would never have managed to pay off this amount of debt without the help of my amazing mum who has allowed me to to stay in her house rent free since March 2018. She is my honest to god guardian angel.

    I don't have any specific links to any guides on here that have helped me - sorry but the whole site has just been the best.

    Here is a link to my diary which I am going to keep using while I embark on my next MSE venture of saving to buy me a house!

    https://forums.moneysavingexpert.com/showthread.php?t=5846129

    Dxxx
    Debt Free 2018 £12754.09 - PIF 30.11.18
    Goal Weight in 2019 30lbs/91lbs
    SPC#13 £84.00

    My Home Fund £30
    11.12.18 - 2 Nationwide Referrals available, PM me for £100 to switch accounts
    • beanielou
    • By beanielou 4th Dec 18, 7:07 PM
    • 58,913 Posts
    • 244,595 Thanks
    beanielou
    Lightbulb moment happened for me on 25th January 2018.

    Debt at its highest was £12,754.09.

    I paid my last debt payment on Friday 30th November 2018.

    My one pearl of wisdom would be to keep the focus even when it feels like you are never going to get there. Also to accept the help and support of people who are willing to give it to you. I would never have managed to pay off this amount of debt without the help of my amazing mum who has allowed me to to stay in her house rent free since March 2018. She is my honest to god guardian angel.

    I don't have any specific links to any guides on here that have helped me - sorry but the whole site has just been the best.

    Here is a link to my diary which I am going to keep using while I embark on my next MSE venture of saving to buy me a house!

    https://forums.moneysavingexpert.com/showthread.php?t=5846129

    Dxxx
    Originally posted by Dolly Rocker
    So pleased for you
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "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.***
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