At the last stage of my journey, finding it tough

A question about : At the last stage of my journey, finding it tough

Hi All,

At the start of last year I got worried about my debts and decided to deal with them.
I had a fancy car which I had a loan for >Ј8000
Credit cards at about Ј6500
I sold the car and then starting paying off the remainder of the loan, now closed.
I have managed to get the credit cards down to Ј2048 but finding it hard to keep going-even with the end goal in sight.
I pay Ј700 a month to the debt so it would only take me three months to clear.
Just getting bored of the rubbish life i have whilst trying to pay the debts off. However would rather just hammer it and get the pain out the way rather than dragging it out at say Ј100 a month.
Tell you what though, i have learned so many lessons with regards to money and will never spend it the same again.
Thanks folks

Best answers:

• WOW! That's amazing. You have done incredibly well. 3 months to go!!
  It's really inspiring to hear that. I have just started to face up to my debts and it's encouraging to hear from people who are nearly at the end of that road.
  Hope you have got a plans to celebrate in 3 months time and that you are rewarding yourself with treats every now and then!
• Thanks KT!! I really have knuckled down and paid Ј700 a month with only one or two months where I paid a little less. It has been very hard, and i have been living off Ј300 to myself on average a month. I really really want this debt gone and know it is so close.
  Dont get me wrong i still have an overdraft and some student loans to pay, but my main concern was the CC's.
  I have had loans/CC's since being 21 and finally had enough of paying them.
  Everybody can do it, just keep reminding yourself about the fantastic end goal ahead- and how being debt free is going to benefit you so much!!!
• The debts started to creep into my bedtime thoughts more and more, and at this point I knew there so much value in trying to clear them!
• Yes I have noticed that over the past year or so I have been thinking and worrying about the debt more and more. Decided that it is finally time that I face up to it and sort it out before it becomes even more unmanageable.
  My aim is to clear my loans/CC first too as they are the ones with the highest interest etc. I am fed up of a third of my salary going towards debts.
  Thanks again for sharing. Gives me hope it can be done!!
• KT you can do it, and you will.
  Stick in there- it is amazing how quickly the months pass as the debt reduces.
  Dont get me wrong- there is times when i could wish away months of my life as you wait for pay day to come round again and again!!
• You could maybe think of easing off a bit and only paying the Ј600 per month towards loan and CC. You can use the other Ј100 to treat yourself and you might find it a bit more bearable.
  Alternatively start making plans about what you are going to do with the excess income when it is paid e.g. Savings account towards something you aspire to?
• Chris what an amazing achievement and only 3 months to go- that leaves you starting a new financial year with no credit cards or loans hanging around your neck- that sounds like freedom to me!
  I'm a similar age to you and have also been in debt practically my whole adult life. I can't wait to be debt free and reckon I'll look back on this time of debt busting and smile at deciding to water down my cereal milk rather than popping to the shop just so I can have a NSD etc! It must be an amazing feeling that that point is *only* 3 months away for you.
  Just a thought but is there anything you could be doing in addition to up your income? Selling things on eBay, mystery shopping (try field agent app), etc- one last push and you might be able to bring that forward a month!!
  I wish you all the luck and determination to do this.
  Also wedding completely paid for without debt- definitely the way to go ( I was less sensible!!)
• I am just starting on this very long journey and people like you, who are so close to achieving their debt-free-goal, are an inspiration to me and my reason for not looking up at this mountain and thinking 'this is impossible'.
  If not for yourself, then do it for us!
• I know its rough at times, have been through the same as you but being on the other side when you can start putting some of that Ј700 into savings instead so you have a little chunk of cash stashed away makes you feel pretty in control of your life. Certainly worth it in the end!
• Hi guys,
  Didn't want to read and run, but just wanted to let you know that you're all doing amazingly and it is sooooo worth it in the end.
  I had nearly Ј10k of debt on a Ј20k salary and it took a looooonnnnggg time to pay it off, but now I am debt free. I cannot describe the feeling of complete freedom that I have now.
  I can go anywhere, do anything and the best part is that I (and you) will get to feel like this for the rest of our lives - and that is priceless!!
  Only other people who have battled debt really understand how great it feels to be completely in control. Since becoming debt free I have opened my eyes and realised that friends who I thought were 'good with money' often have unmanageable debts and stick their heads in the sand; it really is everywhere, but we're the ones who are facing it head on and taking control, and taking our lives back in the meantime.
  Best of luck on all your journeys!!!
• I've been there. The last 2 or 3 months are the worst, you can taste the extra cash but cant get your hands on it, and the weeks seem to drag by. From bitter experience just stick to your plan, its worth it. Anyway its winter now, what can you do, its dark all the time. In 3 months it will be spring and a new start for you. Its a great feeling to have cash in your pocket and able to save Ј700 p/m, good God I nearly spent that much just on paying back the minimum on my cc, what a waste.
  JUST TAKE THE PAIN AND STICK IT OUT
  oh and well done
• Seriously huge thank you to all you folks!! You have given me the push to carry on and finish my journey. That is priceless!
  After the repayments finish i am going to pay more towards wedding fund and try and gradually lower my Ј1000 overdraft. I reckon im going to take a month off before doing this and have a complete blowout!!! Not sure whether to do this or continue in my current rythm.
  Cant thank you guys enough and for all those that are starting the journey- think of the clear pretty debt free future!!!
• Good on you. My DFD is three years away which might sound like oceans of time, but through self imposed austerity money making and saving and settlements we managed to shave five years off the original date. I get a thrill as the dates come down, so being as close as you are must be a huge kick!
• Completely agree with owen_money, the last two months for me felt longer than the first twelve!
  Keep up the good work.
• I have between 5-10 months left after 6 yrs and 1 month of paying my debts, Its really dragging and taking over all my thoughts!! I keep thinking of how i can make it all paid off within 5 months, but then things happen and it puts it back a month. But i am determined to shift this debt by May before we go on holiday. I had Ј17k worth of debt with an income of Ј11k, stupid me, in debt from 18 yrs old and im 30 this year! Will be nice to start my 30's debt free.
  Well done for getting so far, and hopefully these 3 months fly by for you.