To be excited by something so sad

[Fluffyears]

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?

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!

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

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

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.

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!

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!

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.

Absolutely well done! Enjoy being free! Massive congratulations!

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

@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).

So chuffed for you - brilliant news!

Ah that's fantastic, Fluffyears. Congratulations!