Small Steps Out Of Massive Debt!

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  • Bobarella wrote: »
    2 years is not that bad :)
    I was pleasantly surprised at how easy it was to change most of the big things, some of them didn't even want to see any proof of the change! I only just got round to changing my passport though ... mainly because I still had 5 years left on it when we got married and I didn't want to spend £70+ on changing it. It was getting to be too much of a hassle though so I finally got round to updating it a couple of months ago.
  • Bobarella
    Bobarella Posts: 10,824
    Savvy Shopper! I've been Money Tipped!
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    Yes don't blame you on the passport thing. Expensive things aren't they.
    " Your vibe attracts your tribe":D

    Debt neutral :) 27/03/17 from £40k:eek: in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
  • Getting towards the end of the 27.6% rate on my Barclaycard :j I'm making an overpayment with my next direct debit that will clear that portion of the debt and minimise the amount of interest added to the 18.6% rate.

    My main priority from now on is paying off the MBNA debt to get rid as much of it as possible before the promotional rates end.

    Total debt (excluding Student Loan) is £27,798.33

    HSBC Personal Loan : £12498.33
    Interest rate 8.9%, 33 payments left

    Credit Card Balances

    HSBC £2340.1
    Interest rate 21.9%

    MBNA £1865.14
    Breakdown as follows
    £354.37 @ 10.9% (rate ends September 2017)
    £541.28 @ 10.9% (rate ends October 2017)
    £969.49 @ 10.9% (rate ends November 2017)


    Barclaycard £9,882.76
    £252.56 @ 27.6%
    £9,630.2 @ 18.6%


    Catalog £695
    Interest rate 17.9%

    Furniture Finance £517
    Interest rate 0%, 5 payments left
  • Bobarella
    Bobarella Posts: 10,824
    Savvy Shopper! I've been Money Tipped!
    Forumite
    Well done, keep going!
    " Your vibe attracts your tribe":D

    Debt neutral :) 27/03/17 from £40k:eek: in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
  • Am i understanding this right that you have paid off £8k in like 4 months?? Huge well done!!! You'll be in the teens before you know it!

    Ada
  • Bobarella wrote: »
    Well done, keep going!
    Thank you :)
    Am i understanding this right that you have paid off £8k in like 4 months?? Huge well done!!! You'll be in the teens before you know it!

    Ada

    Thank you Ada! I have paid off £8124.83 since I started (typing that feels SO good! :D) but this is because I was able to make a very large overpayment in March thanks to annual bonus, so I'll be taking smaller steps for the rest of the year. But it's all downwards! :)
  • Paperwork for name change on the old Virgin Money account has been sent off this morning and I've listed five more items on ebay. Every time I think I've come to the end of the ebay sales, I have another scan through my wardrobe and find another thing I can list :)

    Payday this week :j My tax code has been adjusted in my favour and it looks as though I'll be getting an extra £47 this month. Not quite on the same level as my March bonus but it is another respectable chunk that I can put towards that MBNA debt. I think I should be able to get the first tranche of that debt down to £250 in addition to the Barclaycard overpayment next week.

    I'm going to try something I saw on another diary and sweep the pennies on my bank balance over to my savings account at the end of each day (so if I finish on 40.67, I'll transfer the 67p over) and at the end of the month use that money for another MBNA overpayment. I cannot for the life of me remember where I saw this idea now, so thank you if it was your diary!
  • Another ebay sale of £13.50 today, I rounded it up a little bit and made an overpayment of £15.14 to the MBNA card to bring the balance down to an even £1850.00

    I was chatting about home fitness with some people at work and someone suggested kettlebells, I said that I didn't want to spend a lot of money, the whole point is to do something cheap and simple so that I stick to it but they kept banging on about what a bargain their set was ( a "bargain" at £109.99 :undecided ). I know in the past this kind of recommendation would have swayed me - maybe not into spending the whole amount but it would definitely give me "permission" to start spending money. Today literally all I could think was "how much better would £109.99 look coming off my debt?!". Progress!
  • Bobarella
    Bobarella Posts: 10,824
    Savvy Shopper! I've been Money Tipped!
    Forumite
    Well done for seeing that change in your thinking. Also, I've seen those kind of weights in charity shops, where they cost about £5....
    " Your vibe attracts your tribe":D

    Debt neutral :) 27/03/17 from £40k:eek: in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
  • Bobarella wrote: »
    Well done for seeing that change in your thinking. Also, I've seen those kind of weights in charity shops, where they cost about £5....

    That was the other thing at the back of my mind ... I'm sure there are loads of people that have bought the sets at £110 and then ended up throwing them away / giving to charity or putting on Gumtree, Freecycle etc. I will have to keep an eye out!
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