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To be excited by something so sad

(88 Posts)
Fluffyears Mon 25-Feb-19 21:38:19

I will start with some background. I grew up in a skint household with an alcoholic parent who drank all our money. I had very few clothes, none of the right clothes, no money to go swimming or to the cinema etc and found it hard to fit in.

When I finally got a job and access to credit I thought ‘this is amazing!’ I could buy what a wanted and go where I wanted. This spiralled and I ended up £10k in debt eventually. I was naive and a bit ignorant about how credit worked. I then met DH who had his own home at 24,has some savings and no debts apart from our mortgage. We sorted out my finances and I got a consolidation loan. I have used my card occasionally but pay it all off.

What I am excited by is that on Friday my Loan will come to and end and I will be free of debt apart from the mortgage. I will actually be able to build some savings, I will actually have ‘fun’ money that is not credit. If anyone is in the same position it is possible to get free but it does take time. I actually want to do a wee jig of excitement....that is sad isn’t it?

TressiliansStone Mon 04-Mar-19 21:58:24

Ah that's fantastic, Fluffyears. Congratulations! thanks

Foslady Mon 04-Mar-19 21:43:31

So chuffed for you - brilliant news!

Fluffyears Mon 04-Mar-19 21:12:59

@toastyfingers good luck it’s such a good feeling. I was such a naive borrower thinking ‘oh it’s £5 a month not realising that was the minimum and there was interest and compound interest applied. I really think we should be taught financial management at school. At least if you got into debt then you aren’t walking in blindly lured by being able to finally buy whatever you want (I don’t even have much to show for it all).

Hyrana Mon 04-Mar-19 14:34:42

Lovely story OP, well done! Enjoy being debt free it is a wonderful feeling flowers

Rockmysocks Mon 04-Mar-19 13:38:28

Absolutely well done! Enjoy being free! Massive congratulations!

TrainSong Mon 04-Mar-19 12:25:29

this should be taught at school as I had no idea how Interest and borrowing really worked.

OP, so true. Maths lessons should be about practical application o fuseful arithmetic. Work out how compound interest works. Work out which mortgage is cheaper short and long term etc. Even how much paint per wall is needed and how much will it cost.

ToastyFingers Mon 04-Mar-19 10:46:12

That's not sad at all, it's brilliant! I had the same sort of upbringing as you and (fingers crossed) I'll be debt free within the next 18 months. Woo-hoo!

Candymay Mon 04-Mar-19 08:04:47

That’s really fantastic! Well done for taking control. You’ve been able to see why you got into debt which is actually very interesting in itself. This happened to my sister and I have never fully thought about why she may have done this with credit. I’ve always thought she is just foolish with money (harsh I know) but I’m now thinking about it in a different light. Anyway- well done with your finances and this is a huge reason to feel great about yourself! Not something sad at all!

Fluffyears Mon 04-Mar-19 00:44:43

Oh my it seems I’m certainly not the only one. I wish i’d Known at 19 what I do now...this should be taught at school as I had no idea how Interest and borrowing really worked.

hellswelshy Sun 03-Mar-19 13:04:25

Well done op! Having been in a very similar position myself until last year, I totally understand. You cannot imagine the peace and relief I felt after making the final payment! It's a hard lesson to learn, one started in my 20s and took nearly 15 years to end. Enjoy the joy op grin

RumbleMum Sun 03-Mar-19 13:04:06

That's amazing OP! You should be as proud as you are excited. Massive well done.

LoubyLou1234 Sun 03-Mar-19 13:01:10

Well done OP I was similar credit was just free money at 18. I also fell into the consultation trap! I finally paid it all of mid 30s and now have a mortgage with my partner who is so much better with money. I now save regularly and love seeing it build up. I have no credit not even a credit card.

Enjoy the feeling OP it's brilliant and certainly not sad!

altiara Sun 03-Mar-19 12:56:08

Well done OP!!! 🥳

8FencingWire Sun 03-Mar-19 12:51:06

🎉 a huge well done, OP!

WhentheRabbitsWentWild Sun 03-Mar-19 12:44:06

@IAmNotAWitch sums up my feelings too

Well Done to you OP .

MaggieAndHopey Sun 03-Mar-19 11:35:54

I don't understand why anyone would think that is 'sad'. You've worked hard, you've paid your debts because of your hard work, of course you want to celebrate.

llangennith Sun 03-Mar-19 11:33:45

Well donethanks

MumW Sun 03-Mar-19 11:27:11

Well done it's not sad at all.

You grew up in an abusive environment and were unable to learn how to handle money/credit. You father showed you a cavalier approach to money - spending on what you want first without another thought to your responsibilities- so your reaction to a newly acquired CC and the easy access to money is hardly surprising.

I totally get the "my debt, my problem" but you've cleared it so now you and your DH are equal partners. Things like Dental fees should come out of joint income.


AuntieGeek Sun 03-Mar-19 11:18:37

Wonder if you'd consider doing financial education at school/after school clubs etc for parents or for teenagers. Debt is a millstone and that you've cleared it says masses about you (all v positive).

Dance hard. You've earned it. Literally!

Fluffyears Sun 03-Mar-19 11:12:44’s gone!

Fluffyears Tue 26-Feb-19 17:35:24

books I setup a wee saver account linked to my main one. I normally put £50 quid on it when. I get paid as a ‘buffer’ so if I end up skint or something comes up I do have some’re right it gets quite addictive i’m Also paying attention to prices and if i’m Buying something ‘do I need it?’

whataremyoption Tue 26-Feb-19 09:48:49

That's not sad OP, it's fabulous. Well done you!

BooksAreMyOnlyFriends Tue 26-Feb-19 09:45:04

Fantastic news op. Enjoy feeling 'free'.

Get saving now smile. You can set up separate savings accounts with your bank so you can easily move your money from your current account. I have 3 savings accounts, one for general savings, one for Christmas that gets £50 a month and one for car expenses that also gets £50 a month. I find keeping it separate helps me keep track of everything. There's nothing more satisfying than getting a bill - car insurance for example - and knowing that the money is there waiting rather than having to come out of that months income.

MSE is great for budgeting advice. It can get quite addictive.

TeaforTwoBiscuitOrThree Tue 26-Feb-19 09:34:43

That's not sad at all! Well done you and well done for such a supportive DH. Treat yourself to a nice cuppa and a BIG piece of cake on this huge achievement!

CuppaSarah Tue 26-Feb-19 09:33:52

We're two years and 4 months away from paying off our consolidation loan! Hoping it'll be closer to two years now I've managed to find a job that works around childcare. I cannot wait for that day!!

I'm so happy for you, you will value and enjoy every extra penny you have so much more for having had to be sensible for so long.

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