Our debt journey – Autumn 2020

I can’t believe I am sitting down to write my last post on our debt journey for 2020. By the time I write our next one we will be in 2021 and this strange year will be behind us, who knows what is still to come though!

When we started this journey back at the start of 2020 we had no idea where it was going to take us, I just hoped we would get our act together and start moving in the right direction. Now fast forward to where we are now, we are cracking through the debts and have actually sat down and thought about our 5-year plan.

Our debt journey - Autumn 2020

When it has come to clearing our debts this year we have had our ups and downs, however, I think we have hit our rhythm and have finally found the right balance between living and saving.

We are now overpaying the mortgage a little more which means it will currently be paid 8 years and 1 month early. We are due to remortgage in about 9 months so of course, we may be able to trim some months off this, but if not that is still some great saving of interest over that time.

The target was to clear some odds and sods small debts off first then tackle the buy now pay later, then onto the credit card before finishing with the loan. We are almost at the credit card part of the journey already which when you think of how the year went, that is pretty amazing. I am a little annoyed that we needed up in the situation we did,  however, we are where we are the only thing we can do is get ourselves out of the spot we put ourselves in!

I know we still have so many more months to get through on this journey but I feel this year has really been the start of our new lives. We are no longer going back into the same routine, we are actually taking those baby steps forward. I can’t wait to see where we end up in 2021!

Our debt journey - Autumn 2020

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