Wednesday, 7 March 2012

Debt management review

Well, I've just completed my yearly review of my debt management plan. I'm pleased to report that I have been able to increase my monthly repayment and at this moment, I will be debt free in 10 years. As I wanted to, I have been able to get the term down to 10 years. This is a real achievement, I'm very happy. There is a chink of light at the end of the tunnel now and there will now be another year of paying off debt with a view to reducing the term again next year. At least, I will be debt free at the latest by the time I'm 51, hopefully a lot sooner. We can then think about savings, the mortgage and of course pensions - yes they still play on my mind, but today was a good result.

10 comments:

  1. Well done ! just keep concentrating on that 'chink' of light - it will grow and grow soon enough -
    you've done well - hang on in there.

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  2. when things were tight for us, we switched to another mortgage product, which made a big difference. Our I.F.A has always guided us and saved us a lot of money over the years.

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  3. Congratulations, you're well on your way. Things can only get better.

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  4. That`s a great achievement!

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  5. Congratuations. , You will get there. Life is precious so dont let the worry of money consume you. Ive learnt that recently when my dad passed away. Family and being with those you love is more important than anything.

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  6. Excellent, hopefully things will start to improve.

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  7. That's great news.Well done!

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  8. Hi Becky,

    Thanks for following us.

    Sounds like a great plan, both paying off your mortgage & your dream of living by the sea!

    We decided to sell up in the north of England & brought our family to Cornwall - initially to house sit a smallholding, which we did for over 2 years & then after an adventure in France, we decided to rent the house we're in now. We've been here for 7 years in this little coastal hamlet & love it!

    Love your picture at the top!

    Kay :)

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  9. Well done - it all helps doesn't it! xxx

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