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debt free fingers crossed
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Pilsbury



Joined: 01 Apr 2007
Posts: 2142


Location: Essex

PostPosted: Sat Sep 21, 2013 11:19 am    Post subject: debt free fingers crossed  Reply with quote

Well this payday should see all my bank accounts in credit and my credit card cleared, it will be the first time in 10 years that all my accounts are i the black with no debts apart from the morgage.
Before you all cngratulate me i will point out it will be for less than a week until the direct debits and bills start leaving but i am proud that i have managed to do extra hours at sork and cut my spending enoigh to get to the point where all my accounts will be in credit at all.
When i moved intmy house and then got married things spiraled out of control a bit and i ended up with the best part of 15k in loans, credit cards and overdrafts and at last, with luck we have managed to dig ourselves out of it.
Hopefully by christmas i will ne on the black all month every month if tjings go this way.
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Digindeep



Joined: 27 Nov 2008
Posts: 7276


Location: Staffordshire

PostPosted: Sat Sep 21, 2013 11:28 am    Post subject: Reply with quote

Pilsbury...I will congratulate you, having been there personally so many times.
I know the relief you must be now feeling.
Having run my own buisnesses , taking gambles...yeah! been there...
It all seemed so easy then, 'X' years ahead of me to pay off such things...
Time catches up so quickly...."Well Done"...    
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12Bore



Joined: 07 Oct 2011
Posts: 8153


Location: Paddling in the Mersey

PostPosted: Sat Sep 21, 2013 2:48 pm    Post subject: Reply with quote

Congratulations from here too, it may not last long, but it's a wonderful feeling!
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Rena



Joined: 15 Sep 2010
Posts: 3547


Location: Way out West in Klamath Falls, OR-USA

PostPosted: Sat Sep 21, 2013 3:21 pm    Post subject: Reply with quote

Yep! I agree!

Congratulations!!!

It IS a Wonderful and Free feeling!
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darkbrowneggs



Joined: 18 Dec 2010
Posts: 1302


Location: On the road

PostPosted: Sat Sep 21, 2013 3:25 pm    Post subject: Reply with quote

Well done you - that is a real achievement  
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sod
Moderator


Joined: 18 Dec 2007
Posts: 13177


Location: Masterton New Zealand

PostPosted: Mon Sep 23, 2013 12:05 am    Post subject: Reply with quote

As all said great news we know just what it feels like just to get your head above water. For us with farming we have same stock all sold, in credit then slowly back down, soon hope we will be like you stay above  
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bodger



Joined: 10 Feb 2007
Posts: 32812


Location: Ever so slightly around the bend.

PostPosted: Mon Sep 23, 2013 10:15 am    Post subject: Reply with quote

I told you that pimping your body would work Tony.  Well done mate.
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rhino



Joined: 03 Aug 2007
Posts: 1344


Location: The white peak

PostPosted: Mon Sep 23, 2013 3:38 pm    Post subject: Reply with quote

I was going to say 'and off your own back' till I read the last post  
Well done.
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Justme



Joined: 10 Feb 2007
Posts: 1939


Location: Pwllheli

PostPosted: Mon Sep 23, 2013 4:54 pm    Post subject: Reply with quote

Well done. It really is a good feeling.  

Just keep it up & start on the mortgage next  
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Pilsbury



Joined: 01 Apr 2007
Posts: 2142


Location: Essex

PostPosted: Mon Sep 23, 2013 5:22 pm    Post subject: Reply with quote

Justme wrote:
Well done. It really is a good feeling.  

Just keep it up & start on the mortgage next  
i already overpay the morgsge by double near enough each month, it might be a low interest rate but paying off early on saves a fortune in interest.
Shoukd get it payed off in 6 or 7 years ratyer than the 16 i should have left.
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Lorrainelovesplants



Joined: 28 Mar 2008
Posts: 2496


Location: North Cornwall

PostPosted: Tue Sep 24, 2013 7:35 am    Post subject: Reply with quote

well done you.

When I married John I had to work hard to make his credit card bill of £5K disappear and also sort out lingering (and frankly ignored) debt of £5K.  He now does not have a credit card and I try to watch his spending on ebay.

Its remarkably easy to mount up.
Paying off the mortgage is a really good idea, especially when you remember that the banks will pay you bugger all savings interest and yet charge you loads on your mortgage.
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Pilsbury



Joined: 01 Apr 2007
Posts: 2142


Location: Essex

PostPosted: Tue Sep 24, 2013 2:31 pm    Post subject: Reply with quote

Agreed, i have rolled all my parents money knowledge and mu own experiance into one and i came up with my plan.
1) get and hold 6 months wages in secure, safe place. Mine is in premium bonds, if the worst happens i can trim my belt and eek it out to a year without work if need be.
2) pay off the high interest loans, credit cards and overdrafts, minimum payments on hem all then over pay the higest rate until its gone, then start on the next one and so on until they are all cleared.
3) over pay on the morgage, this one seems to go agenst the grain because its the lowest interest rate i have but also the biggest and longest loan so over all i will pay many thousands more i interest on this loan, gettimg shot as soon as makes sense.
Now i have my 6 months wages, my debts are cleared and i should have a bit left ovre each month the overpayements on the morgage will go up and only once thst is gone will i sigh relife and go t disney world with my boy lol.
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sod
Moderator


Joined: 18 Dec 2007
Posts: 13177


Location: Masterton New Zealand

PostPosted: Wed Sep 25, 2013 12:45 am    Post subject: Reply with quote

Lorrainelovesplants wrote:
well done you.

When I married John I had to work hard to make his credit card bill of £5K disappear and also sort out lingering (and frankly ignored) debt of £5K.  He now does not have a credit card and I try to watch his spending on ebay.

Its remarkably easy to mount up.
Paying off the mortgage is a really good idea, especially when you remember that the banks will pay you bugger all savings interest and yet charge you loads on your mortgage.


Sounds like us when I got engaged to Jean she took over my money and still does thats why we have anything   no morgage and she stops me spending  
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colour it green



Joined: 15 May 2012
Posts: 342


Location: Devon

PostPosted: Wed Sep 25, 2013 8:39 am    Post subject: Reply with quote

well done
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Pilsbury



Joined: 01 Apr 2007
Posts: 2142


Location: Essex

PostPosted: Fri Jun 27, 2014 7:52 am    Post subject: Reply with quote

Pay day again this month and all clear again but this time this years holiday is already paid for, babies birthday is been and gone and extra in the savings account, certianly feels like all the work is worth it.
Next plan is to increase the morgage payments even more, especially as they are talking about the interest rates rising.

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