Monday, 1 June 2009

June Update

The 13th of June will mark my second year of the "getting out of debt slogg", which I had originally planned to have achieve by October 2008. Obviously I didn't reach my goal but I figure you have to aim for something and now two whole years later I am so much closer to my ultimate goal of being "debt free".
In June 2007 I was £20,056.05 in debt, all of it being unsecured debt, credit card, loans and tax's bills. I have now paid off £16,291.55 in the two years I have been blogging and am down to the final £3, 764.50. All going well I should be debt free by the 16th of August, however debt free may be relative as I will still be paying off my 2008-09 Tax bill which comes due on the 31st of July and will not be cleared until about September I guess. Either way though by mid August I will have no more credit card debt or loan debt, which is what I have been dealing with for the last forever.
I still haven't heard from the insurance company regarding my refund of my godson's medical charges while we where were on holiday in Turkey. I am owed about £3,000.00 so as you can image I would like the monies sooner rather that later. I haven't added this to my figures and don't really want to as I will be getting payment eventually.
My goal for June is to pay £800.00 to clear my snowball credit card and then £300.00 off my other card. This will mean I will only have one card left to payoff.
At the beginning of June:
Three years ago I owed £8,037.44
Two years ago I owed £16,169.04
One year ago I owed £12,671.77
This year I owe £ 3,764.50 ....... and I will owe £ 2,664.50 by the end of the month.


Anonymous said...

You're getting close! Doesn't August seem so close and yet so far away! :)

LisaClark said...

Tell me about it Cynthia, August just seems forever away and I feel more worried about my £3k+ than I did about my £20k. Is that weird or what?

karenmc said...

Hi Lisa - I've been following your blog for a little while, and just wanted to say how impressed I am with what you've achieved. Just yesterday we made the last payment on our house, and the only debt we now have is one credit card with a $500 limit, which we no longer pay any interest on because anything we use it for is paid back in ASAP - we don't even wait for the statement. It's SUCH a great feeling to be debt-free, and I encourage you to keep going with that last few thousand pounds!

LisaClark said...

Congrad's Karen and wow you paid off your mortgage! That is so kewl! I would like to get a mortgage!!