Head long charge at debt repayment!

Here’s where I was then. It was a tough challenge but I did it eventually.

Frugal Queen

I had to face up to the biggest challenge of my life this year as I decided that I would pay off everything I owe and become debt free. It is not easy. I cut up my credit cards early this year and have lived every month under my means and spent every penny I have on paying off debts.

I moved all I could to a zero percent card and now pay off 200 on that and have 10 months to go – I will then add that to my existing credit card bill (unless I can get another zero percent in a few months) and will have that paid off by April 2011 and then will snow ball that onto my home improvement loan (can you believe from my previous house!!) and will have that paid off by May 2012 (30 months!!!!) Have a look at the snow…

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7 thoughts on “Head long charge at debt repayment!

  1. It’s good to remind people of just how far you have travelled and the effort you have made. It’s not impossible but it’s not easy either is it? I am really pleased to see you having a life worth living as debt drops – it’s about the simple but special things isn’t it? Family, friends, having just enough without wanting more all the time


  2. If anyone can do it, you can! We’ve reduced the amount owing on our mortgage by a lot through overpaying for the last few years. I wonder if you have any advice or knowledge on using a personal loan to repay the mortgage? I think it may be cheaper for us to do this. My only concern is that we have mortgage protection cover and if anything went wrong (sickness, redundancy) then the cover may not be effective if it was a personal loan as opposed to a mortgage. I’ve never heard of anyone else doing this. Many thanks x


  3. Well done and congratulations! We became debt free in 2015, having downsized, paid off the mortgage and our last loan. Ironically we’ve now got more disposable income than ever before! Which goes straight into savings. My DB is already retired and my plan is to retire early to join him. The knowledge that no-one can repossess our house or call in a loan is wonderful and so liberating. To any one thinking of doing the same I say, go for it. You have nothing to lose but your debts.


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