I WILL be debt-free within a year!

December 26, 2011 2:38pm CST
I have been in debt for a long time now, and since my partner lost his job earlier in the year we have really struggled. He is now planning to re-train in a new career field, and we hope he will be working soon. I had to use credit to buy some of the kids' Christmas gifts, though I paid for most of them by selling things on ebay. I really didn't want to build up more debt, so the first thing I did when I got my money on Christmas Eve was pay off some of the credit bills. There really isn't much I need, so other than buying what the kids need, all my money will be going towards paying debts now. I have about £1000 to pay off in total. This time last year it was almost £5000 so not too bad! I know I made a lot of progress this year, and if my partner was still working, we might have been debt-free by now, but we will get there in the end.
3 people like this
17 responses
• Philippines
16 Feb 12
Well congratulations on your part and I am happy for the good progress you have. I also have problems about debts and it accumulates up to thousands of money needed to pay that debt. I am still struggling that although I am earning online I can’t still save anything because that is not enough. I like to do what you do, like little by little you pay your bills and you are ready to sweep it away after a year. I like to do that and I plan to do that this year. It is not part of my resolution as I tend to fail to do it, this one I have the eagerness and motivation to save money and pay all of my debts. I just hope you make another discussion about this because I get inspired reading it and it is the reason why I get motivated. It simply means that if we want something to happen we do everything to make it happen just like yours. I hope you pay all of your debt and I wish that your partner will get his career back. Best of all to you my friend.
1 person likes this
@SinfulRose (3524)
• Davao, Philippines
10 Jan 12
Congratulations! Credit cards are a major pain in the neck. I know despite that I don't own one (thankfully) because my mother is having a very hard time due to her credit card bills that keeps on piling up one after another. And what's worse, she lost her source of income some time ago. Do you have some tips that she may use to pay off even some percentage on her debts. I worry for her health too because she's too over-worked and I can't do anything about it as a full-time student and unemployed. Sometimes I feel so powerless and helpless because I can't even help the person that I should be caring for.
11 Jan 12
I have 3 young children so I get state benefits for them, and I use them to pay off what I can as well as buying food etc
@freedomg (1684)
• United States
27 Dec 11
Keep it up you are doing so good. I have my own debts that I am trying to get out from under but most are medical and regular every day bills that we fell behind on when I got sick and my Dad passed away(he provided 1/3 of our income). I am hoping to try to find work online that will allow me to do this in the next 3-6 months just to stop feeling the constant stress that debt can bring. I hope that you find that relief soon as well.
29 Dec 11
We are very lucky here in the UK to have the National Health Service, so all necessary treatment is free to UK citizens. I can't imagine having to pay for healthcare, it should be a right, not a priviledge.
@Raven1 (577)
• Australia
2 Jan 12
You've done really well! Hang in there and stick to your goals. That debt will be cleared very soon and your money won't be spent going on repayments each month. that will help you even more :)
@scheng1 (24950)
• Singapore
28 Dec 11
Hi Marianne, I am sure you can pay off debt very soon. It is glad to hear that you will be debt free in a year's time. That is just the beginning. After that, the task of saving for retirement begins. I think you can take on some higher paid freelance jobs to earn more cash. Have you signed up with Guru? This is one of the most established site for freelancers to bid for jobs. Those who want to post projects must up the cash upfront, and the website holds the money. In this way, freelancers are assured of getting paid for the job.
@indi15 (883)
• India
27 Dec 11
Hope you pay off all your debts. Even i have to clear my credit card bills and i am trying hard to save money for that. With the expenses going so high now it is very difficult to save anything.
@cmang83 (286)
• Malaysia
27 Dec 11
Hi Marianne87, congratulation. I totally understand how you feel. The feeling is not good when we have debt especially when bank keep on call us, i will feel annoyed. I am in the same situation also and i had cancelled all my credit card and wish to settle all my debt next year.
@wulania (1528)
• Indonesia
27 Dec 11
congrats sist
@cmang83 (286)
• Malaysia
27 Dec 11
Hi Marianne87, congratulation for debt free. I totally understand how it feel when we have debt. The feeling is not good and feel annoyed when bank keep on call us. I am in the same situation too and i had cancelled all my credit card and wish i can settle all my debt next year.
@aprilsong (1886)
• China
27 Dec 11
Hi,glad to hear that you have made some progress on that. life is not easy, living in debt is harder. Wish your partner can find job as soon as possible, and keep confidence, be positive, don't let worries make you ill. Because being ill cost us more. If only we keep health, and keep trying and learning to improve our skill, we don't afraid of out of jobs for too long time. All the best to you!
@MaryLynn321 (2680)
• United States
27 Dec 11
That sounds great. It is good that your partner is planning on re-training in a new career field. I am sure it will take a while, but will be well worth it in the long run. That was a good idea to take your Christmas money and pay on your debt. We are using the money we got to help pay on bills. We didn't get much, but every little bit helps.
• Indonesia
27 Dec 11
Congrats. I have an important message for you. You should observe and maintain the success that you have gotten last year and you certainly didn't want to be on a debt, so like or dislike you must reduce the desire to buy things that shouldn't have to be purchased. I knew well on your own things, but as a friend, I really do care about what my friend is trying to face the problem. Luckily, I don't have credit-card, so I can keep control my output without being pushed by the existence of credit-card. So, once again enjoy the success and Happy after.
@Dominique25 (9476)
• United States
27 Dec 11
I'm sure that you are so happy about this. It is very hard to get out of debt. But you are doing so well. You should be really proud of yourself. There are a lot of people who are in debit a huge chunk of money. So far we aren't that much in debit. But my husband will be going to school so then we will have a lot of debit to pay off when he's done.
@bhonti (1247)
• Philippines
27 Dec 11
That is so nice to hear.. But the opposite is going to happen to me, I am about to apply for a loan next year for the condominium unit I'm buying. I hope the interest will not be so high and I will be able to pay the whole debt in the shortest time possible.
@aaronfyzeon (1920)
• Philippines
26 Dec 11
Hello there! That is a really great news for you that you will be soon free from debts. There are a lot of reasons why a lot of people are being in-debt. In your country and in the United States as well, people really cannot escape from what they owe. Here in the Philippines, sad to say, we can somehow get away with it. Most of the people here will loan from a lot of loaning agencies and get off the country after being granted such huge amount of loans. In your case, it is really good that you are paying it off little by little until you are able to pay the whole amount. I hope the next time you will venture a business, things will go out positively. It is really good to save a lot when your business is on its peak so during the rainy days, you will be able to get along with it with what you have saved. Good luck with every endeavor you take.
@MandaLee (3699)
• United States
26 Dec 11
Wow! What a terrific Christmas gift. That is wonderful! Congratulations!
@lilaclady (28270)
• Australia
26 Dec 11
Yes I hope to be as well, I over spent last year so I am trying to get my credit card paid off as well as I am not used to being in debt, I try to be in control in that area but I will just have to stay away from shops for awhile.