Debt free (well, in control)

Giggz said:
I'll be feeling this just after Christmas as I'll have paid all my debt off :D
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Same here, will be debt free in Feb and have a new job waiting for me to :)

This 2 accounts things sounds interesting?

I just have one account then i SO cash into seperate e-accounts all linked to my main one for saving.

I also have a spreadsheet which tells me what's coming in and whats going out so i can see what spare money i have etc.
 
Congrats to all who have managed to pay off there debts.

Like many here I still have my student loan, however I have it all in a high % ISA.

Not trying to claim its a great route to go but its earning me a little and covering the interest. Am planning to hold onto it as deposit for a property :-)
 
Congrats.

I'm at the beginning of that long road, as i've been with my woman for a bit now and getting on a bit its about time I got the finances in order. I've currently got a fair bit of debt from the ex which i'm working on. The 2nd account idea seems to be quite a good one.

Currently i've got CCA's to be sent out to see which debt collection agencies do have the right to take money off me. (I know I owe it, i'm not shirking it but i'd rather try and get things in order as to what I need to pay urgently and the lesser debts).

Do you still happen to have that spreadsheet or some sort of financial planning application? I've currently got one myself but it's not the best.
 
bignev72 said:
Wow I can't believe you managed to pay 80k off in three years! I would love to be earning enough to even have a chance of doing that.

Well done though fella:D
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If you check the date of the first thread it was Jan 2012, so its taken me about 4 and a half years.

Cosimo said:
That is some going, well done! :)

I imagine that you made a few sacrifices along the way?
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Nothing major really, couldn't afford to buy anything big and I leased my car 18 months ago rather than buying, was fortunate to have a good year at work so managed to pay off one 10k loan in one go with a dividend in april.

Appreciate the congratulations, My daughters are 19 and 17 and I can't really stress enough to them not to get embroiled in loans, Id estimate that I've been paying one loan or another since i was about 21/22 , i must have paid back a fortune with nothing to show for it.

Now to start saving for a house so ill not be any better off for a couple of years till I have a deposit. :p
 
I've got student loans of around £20k, and a interest free overdraft of £2000. (:eek:)

I'm currently studying for a MSc and have an income which give me around 450 a month after bills. I give half of that to my family who need money and the rest I'm saving up.

I don't like debt!
 
I would really encourage everyone to use Microsoft Money or similar (is there anything else as good out there?) Yes it is a bit of hassle but every transaction has to be approved and assigned to a category. You then have your monthly reports and can look back at all your historical data.

On top of that, I have 1 account that my salary gets paid into and all my essential expenses come out of. Then with another bank I have a current account that I give myself my monthly pocket money to and credit card that I make all my purchases on.
 
I dont get how people can not notice things like DD's going out their accounts.

Especially with online banking, as theres usually a page which tells you what they all are, and let you cancel in 2 clicks!
 
kindai said:
I dont get how people can not notice things like DD's going out their accounts.

Especially with online banking, as theres usually a page which tells you what they all are, and let you cancel in 2 clicks!
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They do but its easy to just turn a blind eye.
 
Congrats. Having no debts is great. I have zero debts (other than student loan)....but by the end of this year i will be in obscene amounts of debt....

mortgage/first house time!
 
I got myself into debt when I was 18 and it took me until 25 to pay it off. Not doing that again so everything now is saved for and spent from a debit card with no overdraft in place. I've bought myself some really nice stuff from some savvy selling of older stuff and saving up along side it. Just no need to get something on credit.
 
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