Seeing the light

A life changing occurence over dinner!

Three years ago I used to wake up every morning and feel sick inside. At times, I felt overwhelmed and depressed as I watched my friends plan holidays and house alterations. I couldn’t ever imagine being able to do that.

I was in debt up to my eyebrows and could not see the wood for the trees. My wife and I had run a business, which had become a millstone around our necks. We always thought that things would get better but as the balance on our credit cards grew and the equity on our property reduced as we re-mortgaged, yet again, I realised it was time to call it a day. 

Once our business was shut down and we had both got jobs we were able to assess our financial situation. We had £210,000 mortgage and £47,000 in other debts – loans and credit cards. We were unable to re-mortgage as we had received 2 County Court Judgements so the banks and loan companies did not want to know.

Between us we were just about able to get by each month but there were no extras for cars, house repairs or other unexpected costs that life threw at us. This was not the situation that we wanted to be in at our time of life.

One day, over dinner, a friend explained a way of getting out of debt without having to take on extra borrowings. My wife and I looked at each other in disbelief but he urged us to do some simple calculations that would change our lives, NOW, and not just in 25 years time. 

He explained that the main issue was one of enlightenment and control. In other words, stop putting your head in the sand, work out exactly how much you owe to whom and use a system of planning and control to start making a difference to your life TODAY. 

He was right! Once we had sat and written down everything we owed it immediately felt better. We then applied the formula and were amazed to find that if we stuck to the plan we would be debt free, including mortgage free, in 8.6 years. This was taking into account our wages staying as they were for all those years. 

Three years later, we have only 2.5 years to go. As our wages have increased we have been able to reduce our debt even quicker. I say debt in the singular, because the only one we have now is our mortgage and that is reducing so fast it is a delight to open the mortgage statement each year.

I now wake each day with a feeling of success and elation – so different to three years ago. 

You too can achieve this and make a difference to your quality of life NOW as well as over the years to come.
 

To make it easy for you we have created the ‘Debt Mate’ system which helps you to set up and manage your debt reduction within minutes. It is so easy. You can plot how long it will take you – but not only that – you can return at any time and update your figures, reassess and plan accordingly.