I went into the bank the other day to reduce my overdraft by £700 I can not tell you how good it felt paying off another big chunk of debt like that. My monthly interest will now be cut in half saving me £30 a month so that's another £30 a month over payment on one of my other debts. I sat down and did the sums and my starting debt totalled £10577. Since starting the snowball over payment method a few months ago I have got that figure down to £7120 so I have paid back £3457. I am so proud of myself and the journey I am on to become debt free. The temptation to spend is always there but I don't give into it anymore (well most of the time). I look forward to the day my debts are cleared and I have the boys savings accounts set up and my emergency fund set up and my money is my own. I have to be honest though I don't think I will ever go back to being a spendaholic regardless of how much money I have. This way of life has shown me there is so much more to life than money of course it will be comforting to know its there if I need it but I would rather invest it in my children's future. I am hoping that Ben will go to university an option that was never open to me because of the area I was bought up in and the fact we were pretty poor. I will be saving as much as I can to make this as financially painless as possible for him. He has such a gift when it comes to academics and I can really see him making something of his life when he is older and I want to do everything I can to help him achieve this. My other 2 sons Brad and Brandon are autistic so it is highly unlikely they will go to uni but I will not leave them out I will be setting up a little nest egg for them also. The aim is to save £2500 for each of my 3 boys to help them on their way to adult hood be it uni or setting up a home. Some people may not agree with me helping the boys financially but you have to understand 2 of my boys are autistic so work is going to be pretty thin on the ground for them. Although they will always be encouraged to earn a wage there is still a lot of prejudice out there when it comes to employing some one who is mentally impaired. I also have a rule I never give to one without the other so all 3 of my boys will be given a leg up to start with and the rest will be up to them.
Much Love
Claire xx xx xx
Claire - Once a Mom, always a Mom - like all good Moms - you'll always be there for your lads, regardless of how old they are - I've helped mine, when they've needed it over the years - admittedly they rarely come now, but I've always been there for them when they've needed help and advice (and cash a few times!) Well done with the debt reduction - you've done really well xxx
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