You heard it here first!!!!

I declared war on debt in 2009, I haven’t bought any more than the bare necessities since! Today, saw a major defeat of debt in a huge battle. I came home and got onto moneysupermarket and various O% credit (with a 2.9% transfer fee…….still a 10% reduction in creidt charges) card deal sites and got a Natwest card and transferred my car payments, which were at a blood sucking 13.9% and transferred the 4.5K balance onto the card! I also scooped everything, out of every account we have and paid the last £650 off the last credit card (all of which had been transferred to 0% as well!!!!) The balance transfer will save me £549 in interest payments and (drum roll!!!!!) We now snow ball the payment from the car payments and what we were paying for the 0% credit card together and that means the last payment will go on on New Years Eve this year! All that will be left then is the home loan and with the snowball rolling in that direction…………….we will hit target by paying our last payment in July last year!!!!!

Never fear dear reader; I’m not about to go out and buy new clothes or pay to have my hair done (any way Foster Mummy gave me the best hair cut I’ve ever had!) Nor am I about to start shopping in Sainsbury’s or Marks and Sparks…………..life will go on as normal!

Oh yeah! And to celebrate? I switched on the gas boiler! Heated the water and had a deep bath!!! I can nearly afford it now!!!

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24 thoughts on “You heard it here first!!!!

  1. Well done!!! you deserve that nice long soak.

    At the rate you are going, I can see the last loan payments being paid sooner than that. You should give the pair of you a really big pat on the back.

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  2. Wow…well done. It's so nice to see a plan coming together the way it was supposed to.

    I know the total relief as each credit card is paid off, we were doing during 2009/10 what you are doing now and we have been debt free since January of this year. It's a HUGE relief as each card disappears, never to be built up again.

    Soon we will be saving like mad to try and buy our own place again. We had to jump off the property ladder to help wipe out all our debts and have been renting for the last four years. We're hoping to be able to save a huge deposit and pay off a mortgage in five years, if we can raise the stakes of our self sufficiency.

    I know the bliss of a hot, deep bubble bath as a celebration, and I hope you enjoyed it, you deserve every moment.

    Sue xx

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  3. Well done! The best feeling ever, apart of having the kids, was paying out last morgage payment. The girls behind the counter printed the final page of the statment for me and I had it on the fridge for about 6 months. To see that final balance of 0.00 was a real buzz, it is worth all the scrimping and saving and dont let anyone tell you it isnt.

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  4. You are an inspiration each time I
    Visit. You have worked long and hard and its good you can see the light at the end of the tunnel. Go have a great soak.

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  5. terrific news! I wonder how long it would have taken at minimum payment rate? Martin Lewis is always talking about how long it would take and it seems absolutely crazy. My son was shocked to see the interest rate on a 'short term' loan advertisement on TV the other evening. I think it was something like 4000%

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  6. Well done Froogs, I am hoping that we will be in a similar position in the next 18 months…..mind you if the last 2 days are anything to go by it night just take us a bot longer!!

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  7. Congratulations, it must feel wonderful ! I have attempted to set up a plan too but failed because I thought that my natural thriftiness does the trick. It does, but maybe it wouldn't hurt to be more aware and push it a little more. I have a couple of months ahead of me to start thinking about it.

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