A bit of history

Ok..so, how did I get to this stage.
Well I've always been a bit of a spendaholic... not particularly a shopaholic, I just seem to leak money like a bucket with a hole in it.
When child number 3 came along we needed more room, so like most people we extended to make the house 4 bedroomed. This wasn't cheap, and with decoration etc the cost just kept building and building.
That was a couple of years ago and since then I've been juggling the debt, thinking that I was clever enough to make it all go away and not really dealing with it.
Things came to a head this summer when I started putting all my financial information into Microsoft Money.....It suddenly became blatantly clear...
I had a £100, 000 mortgage, a £20,000 loan, 3 credit cards with about £15,000 in total and a £2000 overdraft....
Totting up I was paying nearly £1500 a month to service this debt and that was only the minimum on the cards.....
Given that my take home pay is only £1350 a month and I had all the other bills to pay to run the home its no wonder we were sinking evermore into debt...I had to keep transferring balances and borrowing more moey just to stay afloat.

I'm sure I'm not the only one. !!

So Me and the missus had a bit of a discussion. A rather heated discussion as she wasn't aware of most of the debt !!
We decided to stop being victims, because I believe all of us hard working families caught in the trap of spiralling debt are victims. And we decided to do something about it.

And this is what I'll discuss next... What we have done so far, where we are now , and what the plan is for the future.

The millionaire project starts on January 1st 2007.