Credit Card Balance - Nil. First time in many years.

Pawnless Endgame · 6 Jul 2012 at 22:15

Congrats everyone :-)

For those asking about becoming debt-free and starting to save, there's a forum called Money Saving Expert. Just search that or 'Martin Lewis' on Google. I don't post on there, but I do 'lurk', as there's lots of advice to be read that's relevant for this thread, plus benefits, taxes, bills and general cost-cutting, from holidays to gardening to coupons.

SlyReaper · 6 Jul 2012 at 22:50

Hedge said:
Just thought Id share my little buzz from finally looking at my Credit card and having it clear.

Ive been paying around 300 a month off it since November or so and its now cleared.

Got a 500 overdraft which Im gonna clear in the next 2 months. Then its time to turn my attention to saving for a house deposit.

Not long turned 28 and a foot on the housing market is my target by 30.

Its a good feeling!

You plan to save up a deposit for a house in 2 years? Given you only had £300/month disposable income to pay off your credit card, I'm not seeing how that adds up. What's the plan? Arsenic in the parent's tea and get the inheritance money?

Soundood · 6 Jul 2012 at 22:55

been in debt since i was 16, and i will be in debt till i die,

as they say you cant take it with you!! lol

Guile · 6 Jul 2012 at 22:56

Hedge said:
Then its time to turn my attention to saving for a house deposit.

From one form of debt into another.

Paying £250k for a one bedroom flat which cost a fraction of that to build. Sickening tbh. The system must fall.

Spook187 · 6 Jul 2012 at 22:58

Well done lad

It's all very well people saying don't spend what you haven't got,but in this day and age with the high cost of living and poorly paid jobs knocking about,it's very hard not to get into any sort of debt.

D18241 · 6 Jul 2012 at 23:30

Another 5months to go for me till i am debt free. Cant wait to be honest will have gone from having like £40 a week to do with what i want to about £170 a week.

Hedge · 6 Jul 2012 at 23:38

SlyReaper said:
You plan to save up a deposit for a house in 2 years? Given you only had £300/month disposable income to pay off your credit card, I'm not seeing how that adds up. What's the plan? Arsenic in the parent's tea and get the inheritance money?

Nah mate I have about 900 a month disposable so it's not too hard if I stop any random purchases. Only outgoings I have are mobile phone, broadband and I suppose car insurance but I pay that in one lump at 400 a year. Not shabby lol

Aedus · 6 Jul 2012 at 23:48

Now cut up your credit card so you're not tempted to buy what you don't have the money for again, and get saving

singist · 6 Jul 2012 at 23:53

People still believe they have bebt?

The Halk · 6 Jul 2012 at 23:54

Hedge said:
Its a good feeling!

It is a good feeling once you get on top of it. It's very easy to improve your finances once you get inspired by the progress you make.

I see lots of different types of people... but there's four main categories.;.

1) People who spend everything they can. They will max out every facility and say gooby pls when it's all spent.
2) People who spend all they earn, and neither borrow nor save, give or take a few K.
3) People who save, they save moderately and sensibly, and make considerable sacrifices, which quickly become rewards.
4) People who save, relentlessly, who do not benefit from the savings, who become obsessed with saving more.

You want to be in group 3. There's other people as well, but people seem to fall into one of those 4 trenches. Most people between them are not continuing on their merry way like the 4 trenches are.. they're moving from one to another.

Spook187 · 7 Jul 2012 at 00:13

But some will never ever see number 3 or 4 even if they wanted to.

Hagar · 7 Jul 2012 at 00:23

In 1980 I lost my job and quickly racked up £300 debt (a months salary) on my Barclaycard. I have not owned a credit card since and pay for everything out of earned or saved money. Have now paid off the mortgage as well so debt free except for very occasional £50-100 planned o/draft.

Zefan · 7 Jul 2012 at 00:28

Hatter The Mad said:
Well done

Camalot said:
Well done mate im about a year off.

dirtychinchilla said:
Congratulations!

Aod said:
Well done guys!

Hedge said:
Well done dude.

agnes said:
Well done mate

Monserrat said:
Congrats everyone

Spook187 said:
Well done lad

Really? Well done for what? Well done for no longer making mistakes? It's like saying well done to someone who has come from obesity to a normal weight, why well done? Sure it might have been hard, or whatever, but the fact is all they have done is stopped doing things wrong.

I haven't done any of the things you guys have done wrong, do I get a congratulations?

Didn't think so.

I think it's great that people overcome their troubles, be it debt or other things, but I don't think it's an achievement worthy of congratulations.

For all the people who have managed not to get themselves in the mess of personal debt in the first place, I say well done.

The Halk · 7 Jul 2012 at 00:30

Spook187 said:
But some will never ever see number 3 or 4

True

Spook187 said:
even if they wanted to.

Almost completely false. Unless you are medically unable to work then you will be able to save in your lifetime. If you can't then you've chosen not to.

Woden · 7 Jul 2012 at 00:30

Zefan said:
Really? Well done for what? Well done for no longer making mistakes? It's like saying well done to someone who has come from obesity to a normal weight, why well done? Sure it might have been hard, or whatever, but the fact is all they have done is stopped doing things wrong.

I haven't done any of the things you guys have done wrong, do I get a congratulations?

Didn't think so.

I think it's great that people overcome their troubles, be it debt or other things, but I don't think it's an achievement worthy of congratulations.

For all the people who have managed not to get themselves in the mess of personal debt in the first place, I say well done.

Don't worry. One day you will find your humanity and we will congratulate you on it. Even though all you did was stop doing something wrong.

The Halk · 7 Jul 2012 at 00:31

Zefan said:
Really? Well done for what? Well done for no longer making mistakes? It's like saying well done to someone who has come from obesity to a normal weight, why well done? Sure it might have been hard, or whatever, but the fact is all they have done is stopped doing things wrong.

I haven't done any of the things you guys have done wrong, do I get a congratulations?

Didn't think so.

I think it's great that people overcome their troubles, be it debt or other things, but I don't think it's an achievement worthy of congratulations.

For all the people who have managed not to get themselves in the mess of personal debt in the first place, I say well done.

This isn't one of your better posts. The answers to your questions lie within your own post.

However if it helps, well done for not overcoming your character flaws.

Hedge · 7 Jul 2012 at 00:52

Zefan said:
Really? Well done for what? Well done for no longer making mistakes? It's like saying well done to someone who has come from obesity to a normal weight, why well done? Sure it might have been hard, or whatever, but the fact is all they have done is stopped doing things wrong.

I haven't done any of the things you guys have done wrong, do I get a congratulations?

Didn't think so.

I think it's great that people overcome their troubles, be it debt or other things, but I don't think it's an achievement worthy of congratulations.

For all the people who have managed not to get themselves in the mess of personal debt in the first place, I say well done.

My situation doesnt really warrant "Well done" or "Congratulations". I just made the post cos I was chuffed.

However I dont really like that attitude you have.

If I saw a recovering drug addict, or alcoholic who was proud they were clean for a length of time. I would say "Well done" because overcoming some of lifes hardships sometimes deserves a pat on the back.

To reiterate, I really dont expect congratulations nor think I deserve it.

Zefan · 7 Jul 2012 at 00:55

Woden said:
Don't worry. One day you will find your humanity and we will congratulate you on it. Even though all you did was stop doing something wrong.

The Halk said:
However if it helps, well done for not overcoming your character flaws.

I am indeed riddled with major character flaws, an intolerance to this kind of circle-jerk mentality being one of them. I have plenty of humanity, in fact if you catch me when the wind is blowing in the right direction you will find I am as warm and empathetic as they come. The difference between us is that I would never expect someone to congratulate me for solving a problem that is entirely my own making.

Hedge said:
My situation doesnt really warrant "Well done" or "Congratulations". I just made the post cos I was chuffed.

However I dont really like that attitude you have.

If I saw a recovering drug addict, or alcoholic who was proud they were clean for a length of time. I would say "Well done" because overcoming some of lifes hardships sometimes deserves a pat on the back.

To reiterate, I really dont expect congratulations nor think I deserve it.

My post wasn't really aimed at you exactly, and yes maybe the way I'm coming across may be a little over the top, but I see people who have "overcome things" all the time that get praise heaped on them. I can understand it's nice to encourage people and that some things are hard to deal with, so maybe it's less the "well done" I'm annoyed at but more the "congratulations" - as if it's a real achievement that's worthy of praise.

Hedge · 7 Jul 2012 at 00:57

Did my post not quite sink in with you? read the first line, and the last line.

There is no difference between you or me.. because "I would never expect someone to congratulate me for solving a problem that is entirely my own making."

The Halk · 7 Jul 2012 at 00:59

Zefan said:
I am indeed riddled with major character flaws, an intolerance to this kind of circle-jerk mentality being one of them. I have plenty of humanity, in fact if you catch me when the wind is blowing in the right direction you will find I am as warm and empathetic as they come. The difference between us is that I would never expect someone to congratulate me for solving a problem that is entirely my own making.

That's where you fail to understand human nature then. We're flawed, we've got all sorts of problems and we all struggle against them.

Every one of us is capable of greatness if it wasn't for the lack of discipline, physical ability, coordination, years of practice, basic ability, etc etc etc.

Our lives are an attempt to overcome our flaws and better ourselves. So even if someone made the hole themselves, climbing out is something positive and most of us are content to encourage people.