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  • FIRST POST
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 24th Sep 17, 1:22 PM
    • 3,868Posts
    • 25,639Thanks
    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.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £530/Emergency Fund 2 = £0/Loss of Income Fund £0
Page 108
    • Purplemumof2
    • By Purplemumof2 11th Feb 18, 7:59 AM
    • 6,003 Posts
    • 21,928 Thanks
    Purplemumof2
    Morning lovely,

    Have a great day today xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £6500.00 Cap 1: £437.20 BC: £6747.97
    AFD xxx LTW 3/16
    POAMAYC 2018 #041 PD £3790.84/£7000
    Savings for Christmas £131.00/£365
    20p Savers 2018 £2 Savers 2018 50p Savers 2018 SPC 11 2018 #003
    • Cumbria lass
    • By Cumbria lass 11th Feb 18, 8:48 AM
    • 1,664 Posts
    • 9,788 Thanks
    Cumbria lass
    HH lovely to hear of your trip yesterday , the weight will come off as the weather gets warmer . I think everyone is less mobile at the minute . The weather this morning, is sleet , rain and windy .

    Have a good day .
    CC1 £3655 April 2018.
    • Seasidegal58
    • By Seasidegal58 11th Feb 18, 10:34 AM
    • 1,846 Posts
    • 11,204 Thanks
    Seasidegal58
    Agree with Cumbria about the correlation between weight and weather!

    Have you heard from your New Orleans correspondent?
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 15/04/2018: £568.60
    My diary: “Paid off the £31,0000! BUT- still scrimping!”
    • in need of direction
    • By in need of direction 11th Feb 18, 10:46 AM
    • 4,979 Posts
    • 28,609 Thanks
    in need of direction
    my OH is useless with his own health but sorts out my meds for me every day (11 pills) and also reminds me when i need to reorder.
    Mortgage at 01.01.14 £119,481.83 today £76,508.97, target £65,000 by 31/12/18 Offset fund today £207.27 target £5,500 by 31/12/18
    Emergency fund £0.7/5.5k & £200/200 cash.
    Current weight loss RUBBISH need to refocus
    determined to stop defining myself by my mistakes.
    Progress not perfection.
    • WannabeFree
    • By WannabeFree 11th Feb 18, 12:33 PM
    • 1,385 Posts
    • 11,612 Thanks
    WannabeFree
    Hope you have a lovely day HH

    x
    “Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.”
    • beanielou
    • By beanielou 11th Feb 18, 4:04 PM
    • 52,619 Posts
    • 206,467 Thanks
    beanielou
    my OH is useless with his own health but sorts out my meds for me every day (11 pills) and also reminds me when i need to reorder.
    Originally posted by in need of direction
    Blimey you are as bad as me pill wise
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 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.
    • EssexHebridean
    • By EssexHebridean 12th Feb 18, 1:02 PM
    • 8,624 Posts
    • 45,378 Thanks
    EssexHebridean
    It's bound to be tougher to get out and move about more outside when the weather is grotty and we're so programmed to think about eating a certain way in the winter too - and that tends to mean heavier stodgier meals I guess. It's just one of many habits I found it helpful to change - although we do still have some meals like that I'm now trying to really bulk things out with loads of veg, and I still do salads and stuff just use different "star of the show" ingredients.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£853.32 (12/02/18)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • Nicnak
    • By Nicnak 12th Feb 18, 1:55 PM
    • 895 Posts
    • 5,008 Thanks
    Nicnak
    I always gain weight in winter. I think we need the extra fat to keep us warm. xx
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £960 Tesco Loan £7500 = £0 Consolidation £15,000 = £14,086 Total = £25,330 £15,046 40% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Cumbria lass
    • By Cumbria lass 12th Feb 18, 2:30 PM
    • 1,664 Posts
    • 9,788 Thanks
    Cumbria lass
    HH how is everything with you , did you get any snow ?
    CC1 £3655 April 2018.
    • beanielou
    • By beanielou 12th Feb 18, 5:35 PM
    • 52,619 Posts
    • 206,467 Thanks
    beanielou
    I always gain weight in the winter too.
    Had a flurry of snow today & more forecast for tomorrow.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 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.
    • WannabeFree
    • By WannabeFree 12th Feb 18, 7:48 PM
    • 1,385 Posts
    • 11,612 Thanks
    WannabeFree
    Hope you're okay HH

    You're very quiet

    x
    “Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.”
    • Chrystal
    • By Chrystal 12th Feb 18, 8:06 PM
    • 224 Posts
    • 1,487 Thanks
    Chrystal
    I'm also hoping that everything is OK? Sending you ((((hugs)))) X
    GC. Oct.17 = £261.18/ £300 = + £38.82 NSDs 20/31
    GC. Sept.17 = £354.89/£300 = - £54.39

    • beanielou
    • By beanielou 12th Feb 18, 9:22 PM
    • 52,619 Posts
    • 206,467 Thanks
    beanielou
    Hope all is well.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 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.
    • Cumbria lass
    • By Cumbria lass 13th Feb 18, 9:35 AM
    • 1,664 Posts
    • 9,788 Thanks
    Cumbria lass
    HH just checking in again to say hope all ok?
    CC1 £3655 April 2018.
    • Purplemumof2
    • By Purplemumof2 13th Feb 18, 10:22 AM
    • 6,003 Posts
    • 21,928 Thanks
    Purplemumof2
    Morning Hairy,

    Hope you're okay and not too windblown? xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £6500.00 Cap 1: £437.20 BC: £6747.97
    AFD xxx LTW 3/16
    POAMAYC 2018 #041 PD £3790.84/£7000
    Savings for Christmas £131.00/£365
    20p Savers 2018 £2 Savers 2018 50p Savers 2018 SPC 11 2018 #003
    • beanielou
    • By beanielou 13th Feb 18, 7:09 PM
    • 52,619 Posts
    • 206,467 Thanks
    beanielou
    Hoping all is well.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 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.
    • abba1772
    • By abba1772 13th Feb 18, 8:16 PM
    • 4,640 Posts
    • 15,768 Thanks
    abba1772
    You're awfully quiet hairy hope you're ok xx
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £983.26
    POAMAYC 2011 £6382.66 POAMAYC 2012 £5000.78
    POAMAYC 2013 £3480.04 POAMAYC 2014 £4085.14
    POAMAYC 2015 £7565.24 POAMAYC 2016 £8000.90
    POAMAYC 2017 £7278.80 POAMAYC 2018 £4012.74
    • mummytogirls
    • By mummytogirls 13th Feb 18, 8:19 PM
    • 6,159 Posts
    • 22,448 Thanks
    mummytogirls
    Hope all ok with you guys HHOD, not like you not to post xx
    Mummytogirls x

    £23164.32 - 12/12/10
    £5419.83 - 08/04/18 - 76.61% paid off
    • redofromstart
    • By redofromstart 13th Feb 18, 8:28 PM
    • 1,587 Posts
    • 9,450 Thanks
    redofromstart
    Missing your posts, hope its 'just' the cold. I thought of you this afternoon as I bought yet another 50p book
    • Seasidegal58
    • By Seasidegal58 13th Feb 18, 10:24 PM
    • 1,846 Posts
    • 11,204 Thanks
    Seasidegal58
    Hope you’re weekend lurgy hasn’t taken hold Hairy and you’re ok.
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 15/04/2018: £568.60
    My diary: “Paid off the £31,0000! BUT- still scrimping!”
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