385 days to go to debt free living

I will still have the mortgage of course, but I will be free of all my other debt by 31st December 2009.
This is a bold statement to make, as it won’t be easy, but after a few days of feeling sorry for myself, which is very unproductive, I’m ready to kick this debt into touch. I’ve done my basic budget, and if I need to buy anything outside of it, I will have to make the money somewhere. I’m not quite committing to a no spend year, but I’ve not given myself any money for clothes, books, gifts or coffee!

Basic 2009 budget:

  • Bill account £900 (includes mortgage over payment)
  • Fuel £60
  • Sponsor Child £18
  • Child costs £70
  • Grocery £200
  • Haircut £10

All other money will go to debt repayment.

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6 thoughts on “385 days to go to debt free living

  1. I think setting goals that are a stretch keep you motivated. I did a similar goal in 2007, paid off all my credit card debt in one year. I still keep a pretty lean budget, I have more goals to go – both debt and savings. Keep focused and you can do it. It’s a wonderful feeling not having a huge debt hanging over your head.

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