I WILL be debt free!!!

[HettySunshine]

I'm absolutely not showing off and I'm so sorry to all those struggling at the moment. I'm posting this as something for me to look at over the next twelve months, every time I have the urge to spend money on nonsense.

I have been dragging a pile of debt around with me for years, transferring it from one card to another, paying a bit off and then spending it again. For years my dh and I were short at the end of every month. We were crippled by nursery fees and car payments and I just don't know what. It was easy to use cards to top things up, PayPal credit, a Next account for clothes.

I have now worked out the maximum I can afford on my remaining debt and worked out that if I stick to it I can pay off my two biggest debts in 12 months. I can then use the money I save on those to pay off the rest.

If I am strict and careful I can be debt-free within 14- 15 months. This is mind-blowing and I so desperately want to do it.

Every time I think I need something new I am going to look at this message and ask myself 'Is it worth it?'.

This is all my own debt, my dh is really sensible with money and I have accrued this, not secretly, but totally on my own. Takeaways when he is away or working late and I can't be bothered to cook, 'oh I love that' when I know I can't afford it and don't need it. Spending money I don't have had become a habit and I could always find a way to justify it to myself.

It stops NOW!

I want to be free of this and I can be.

Good luck OP 🍀

Ohhh, wonderful news. Good luck ✊

You can definitely do this

Good luck op!

Amazing! Do you mind if I tag along? I'm looking at a similar timescale and similar reasons for my debt so I could hold myself accountable alongside you!

Well done, OP. The mistakes you've made are among the easiest to make and far, far more common than people realise. You're going to succeed. Be hugely proud.

I'd love that Elle! Let's do it together!

When I separated from
my partner I had a horrendous amount of credit card debt which was mainly due to him being sacked from his job and us struggling financially. Unfortunately the cards were in my name . I am now just over half way to paying them off . It’s a hard journey but I am proud of myself and hope to be debt free within 2 years . Good luck OP .

You can do it! 😁 you've just got to think once it's paid off how good you're going to feel, the relief will be fantastic 🙌🏼

Good luck, imagine the feeling when it’s all gone!

You can do it! And you’ll feel great when it’s done. Keep checking in here if you feel the need to fall off the wagon.

If it helps with not buying stuff, make a deliberate decision to go away and come back a week or even a month later. I buy much less stuff this way.

Progress has been made today.

I have consolidated all my outstanding debt into one loan and paid everything off.

This means I will pay less interest overall and also means that I have paid off all the things I can spend on and replaced them with something I cannot.

I have deleted all the food delivery apps, Deliveroo, Just eat, etc. and as soon as the payments I have made today have updated I will close my Next account and PayPal credit.

I have also paid off my credit card. I didn't have it in my purse anyway, it's in a drawer but now I can cut it up and throw it away.

Astonishingly, I am already £50 a month better off, as the loan payment is less than all the individual payments.

Thank you all so much for your support. I am determined to stick with this. The best way I can describe how I feel is to say I'm feeling fizzy about the prospect of being free of debt.

Save the £50 a month and it will add up. I did this a few years ago getting loans then running up my card again. The day I paid my final loan off (3 months early as I saved up for it) and had no more credit card debt I actually cried. I sent screenshots to my husband and he said ‘good let’s keep it that way!’ I actually have savings now. Put your card away and delete it from your online accounts. Good luck

Thought I would post an update (to myself!).

I am over halfway through!

It's been a bit of a struggle and I have definitely wavered a few times but Christmas is out the way and most of the family birthdays, including my mum's 80th which was quite expensive.

The summer will be tricky due to holiday clubs but we have managed to save some spending money for our week away in May and really feel I am on countdown.

8 months to go!!

My little countdown graph is below.

Fantastic progress! Well done getting this far - you should be really proud of your efforts. Keep going and soon you'll be finished!

Thank you, that's lovely.

Nothing beats that feeling of counting down debt and then being free of it. I’ve started doing a monthly budget and meal planning to keep on track, should be done in 13 months.

You are doing so well! My ex left me utility debt and it was a struggle to get rid of it. Even when I didn't have alot money having no debt except my mortgage gave me peace.

You will soon have more money that you can saved if you need big items!

I’ve just done the same. Sat down and worked it all out. Paying off the highest interest debt first. Mine is going to take a bit longer. 20 months but it’s like a weight off. I can’t work out why I didn’t do it years ago.

You’re doing so well @HettySunshine. It’s really spurred me on!

This is fantastic op and inspirational! Best of luck in reaching your goals.

Good for you! Best of luck with it all.

Hi there, I’ve just read your post and wondered if, 12 months later, you are 2/3 months away from being Debt Free?
I am following Dave Ramsey’s Baby Steps (with gazelle intensity!) and aiming to be debt free in 20-24 months.
We borrowed €90k (a ten year loan) for a house renovation 12 months ago. It is currently sitting at €58k so we have paid €32k off in one year. We both work full-time, three children, but I’m budgeting to zero every month so that we are living on one wage and using the other wage to pay this debt off ASAP.

I will be totally debt free when I get paid in November. I consolidated all of my debt into one loan over 18 months and the finishes on 26 November.

We have also saved spending money for our little holiday to the south coast in a couple of weeks.

We also have three children and it is hard going having no 'fun' money, but we have managed to get through Christmas and all their birthdays so it feels like I'm in the home stretch now.

My dh has been great and dealt with almost all family expenses but I'm really looking forward to being able to take on my full share of the load in the final run up to Christmas.

@HettySunshine well done! You've done amazing and not long left now. You should be really proud 💐

Why, thank you. ☺️