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  • FIRST POST
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 24th Sep 17, 1:22 PM
    • 8,385Posts
    • 64,735Thanks
    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.
    EMERGENCY FUND £2,000
    "Tough times never last, but tough people do" - Robert H Schuller
Page 329
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 11th Jan 19, 10:03 PM
    • 8,385 Posts
    • 64,735 Thanks
    HairyHandofDartmoor
    Thanks Wannabe .
    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.
    EMERGENCY FUND £2,000
    "Tough times never last, but tough people do" - Robert H Schuller
    • elizabethhull
    • By elizabethhull 12th Jan 19, 12:53 AM
    • 429 Posts
    • 3,554 Thanks
    elizabethhull
    Enjoy all the birthday day
    • please-let-me-be-lucky
    • By please-let-me-be-lucky 12th Jan 19, 8:51 AM
    • 9,572 Posts
    • 59,533 Thanks
    please-let-me-be-lucky
    Have a lovely day of celebrations Xx
    Debts @ LBM £23,729.31. Debts @ 08/04/2016 £0

    Best win so far - holiday to Florida
    • jwil
    • By jwil 12th Jan 19, 8:57 AM
    • 10,102 Posts
    • 34,728 Thanks
    jwil
    Happy Birthday to DS
    "If you can dream it, you can do it". Walt Disney
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 12th Jan 19, 9:00 AM
    • 8,385 Posts
    • 64,735 Thanks
    HairyHandofDartmoor
    Enjoy all the birthday day
    Originally posted by elizabethhull
    Have a lovely day of celebrations Xx
    Originally posted by please-let-me-be-lucky
    Happy Birthday to DS
    Originally posted by jwil
    Thank you all .
    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.
    EMERGENCY FUND £2,000
    "Tough times never last, but tough people do" - Robert H Schuller
    • doingitanyway
    • By doingitanyway 12th Jan 19, 10:09 AM
    • 4,157 Posts
    • 24,695 Thanks
    doingitanyway
    Happy birthday DS and have a great day all from me too!
    • Nicnak
    • By Nicnak 12th Jan 19, 12:04 PM
    • 1,930 Posts
    • 11,285 Thanks
    Nicnak
    Happy birthday to DS. Hope he has a lovely day. x
    September 6th 2017 - Updated February 2019
    Credit Card £0 now: £0 Dad £1500 = £1000 Consolidation £15,000 = £9,960 Total = £25,330 £10,960 59% gone EMF #252 = £100/£1000
    Sealed pot challenge #024
    Pay off all your debts by Christmas #071
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 12th Jan 19, 2:12 PM
    • 8,385 Posts
    • 64,735 Thanks
    HairyHandofDartmoor
    Happy birthday DS and have a great day all from me too!
    Originally posted by doingitanyway
    Happy birthday to DS. Hope he has a lovely day. x
    Originally posted by Nicnak
    Thank you .
    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.
    EMERGENCY FUND £2,000
    "Tough times never last, but tough people do" - Robert H Schuller
    • beanielou
    • By beanielou 12th Jan 19, 4:34 PM
    • 61,811 Posts
    • 264,900 Thanks
    beanielou
    Hope you all have a lovely day
    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.***
    • Onebrokelady
    • By Onebrokelady 12th Jan 19, 5:16 PM
    • 1,564 Posts
    • 9,750 Thanks
    Onebrokelady
    I use mardy too
    Hope you all have a lovely day Hairy xx
    Just keep swimming
    Original Debt Owed Jan 18 = £17,630 Paid To Date = £1,756 Total Now Owed = £15,874
    Emergency Fund = £1,500 Xmas savings = £300
    • Seasidegal58
    • By Seasidegal58 12th Jan 19, 8:52 PM
    • 2,763 Posts
    • 17,468 Thanks
    Seasidegal58
    Belated birthday wishes to DS2. I bet you made sure he's had a great day.

    Have a safe trip tomorrow. DS3 will be home from uni before you know it!

    SSG x
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 17/03/2019 - £2,448.68
    MONTHS TO RETIREMENT: 25
    My diary: ďPaid off the £31,0000! BUT- still scrimping!Ē
    • BalanceBy50
    • By BalanceBy50 13th Jan 19, 9:54 PM
    • 113 Posts
    • 698 Thanks
    BalanceBy50
    Hope you had a safe journey and an easy run today.

    The next 10 weeks will fly by i am sure. Xx

    Ps just catching up - leather needles never heard of those!!
    • WannabeFree
    • By WannabeFree 13th Jan 19, 10:51 PM
    • 3,363 Posts
    • 31,264 Thanks
    WannabeFree
    Hope you had a lovely day yesterday and your travels went okay today

    x
    ďOnce you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the way.Ē

    POAMAYC 19 #70 £1561/£2070
    • beanielou
    • By beanielou 13th Jan 19, 10:56 PM
    • 61,811 Posts
    • 264,900 Thanks
    beanielou
    Hope all went well today.
    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.***
    • tantaraza
    • By tantaraza 13th Jan 19, 11:15 PM
    • 66 Posts
    • 455 Thanks
    tantaraza
    Hello! Iíve spent the last few days reading your diary from the very beginning ó clicked on it as Iím Devonshire born and bred and remember days out to Dartmoor when I was little and I have to admit your tenacity and strength kept me reading. Youíve coped so well with the erratic income from your DHís business and dealing with the pesky annoying creditor, and Iím so sorry about your mumís passing but you truly have shown an incredible amount of strength especially at Christmas. Iím sure 2019 will be wonderful for you and that an employer will snap you up in no time

    Belated birthday wishes to DS2 and I hope your journey to DS3ís uni went well ó also hoping you didnít get caught by the roadworks at J23-J22 and made it home trouble-free, the diversions were poorly signposted yesterday

    Subscribing (and hello to everyone else who posts on HHODís diary )
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 14th Jan 19, 11:01 AM
    • 8,385 Posts
    • 64,735 Thanks
    HairyHandofDartmoor
    Hope you all have a lovely day
    Originally posted by beanielou
    I use mardy too
    Hope you all have a lovely day Hairy xx
    Originally posted by Onebrokelady
    Belated birthday wishes to DS2. I bet you made sure he's had a great day.

    Have a safe trip tomorrow. DS3 will be home from uni before you know it!

    SSG x
    Originally posted by Seasidegal58
    Thank you .
    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.
    EMERGENCY FUND £2,000
    "Tough times never last, but tough people do" - Robert H Schuller
    • carbootcrazy
    • By carbootcrazy 14th Jan 19, 11:02 AM
    • 6,007 Posts
    • 37,282 Thanks
    carbootcrazy
    I hope you had a safe and hassle-free journey yesterday, HH, and that DS and all his 'stuff' are safely installed in his room

    I expect you're feeling a bit drained today, both physically and emotionally, so please take care of yourself and take it easy today if you can. It's probably not an easy thing for you to do though as I know you like to keep yourself busy because it helps to take your mind off things.
    Last edited by carbootcrazy; 14-01-2019 at 11:06 AM.
    Original Debt: £56804 (@02/13). Now: £1862.. Just one creditor to go

    Make £2019 in 2019 (#68) £452.71/£2019

    Treats Fund 2019: £411.78
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 14th Jan 19, 11:03 AM
    • 8,385 Posts
    • 64,735 Thanks
    HairyHandofDartmoor
    Hope you had a safe journey and an easy run today.

    The next 10 weeks will fly by i am sure. Xx

    Ps just catching up - leather needles never heard of those!!
    Originally posted by BalanceBy50
    Leather needles are extra sharp .

    Hope you had a lovely day yesterday and your travels went okay today

    x
    Originally posted by WannabeFree
    Hope all went well today.
    Originally posted by beanielou
    Thank you all of you .
    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.
    EMERGENCY FUND £2,000
    "Tough times never last, but tough people do" - Robert H Schuller
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 14th Jan 19, 11:07 AM
    • 8,385 Posts
    • 64,735 Thanks
    HairyHandofDartmoor
    Hello! Iíve spent the last few days reading your diary from the very beginning ó clicked on it as Iím Devonshire born and bred and remember days out to Dartmoor when I was little and I have to admit your tenacity and strength kept me reading. Youíve coped so well with the erratic income from your DHís business and dealing with the pesky annoying creditor, and Iím so sorry about your mumís passing but you truly have shown an incredible amount of strength especially at Christmas. Iím sure 2019 will be wonderful for you and that an employer will snap you up in no time

    Belated birthday wishes to DS2 and I hope your journey to DS3ís uni went well ó also hoping you didnít get caught by the roadworks at J23-J22 and made it home trouble-free, the diversions were poorly signposted yesterday

    Subscribing (and hello to everyone else who posts on HHODís diary )
    Originally posted by tantaraza
    Thank you for reading my diary and your lovely comment tantaraza. It's nice to come across someone else from Devon. Please keep visiting . Do you have a diary?
    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.
    EMERGENCY FUND £2,000
    "Tough times never last, but tough people do" - Robert H Schuller
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 14th Jan 19, 11:08 AM
    • 8,385 Posts
    • 64,735 Thanks
    HairyHandofDartmoor
    I hope you had a safe and hassle-free journey yesterday, HH, and that DS and all his 'stuff' are safely installed in his room

    I expect you're feeling a bit drained today, both physically and emotionally, so please take care of yourself and take it easy today if you can. It's probably not an easy thing for you to do though as I know you like to keep yourself busy because it helps to take your mind off things.
    Originally posted by carbootcrazy
    Thank you Carboot .
    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.
    EMERGENCY FUND £2,000
    "Tough times never last, but tough people do" - Robert H Schuller
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