Round and round the overdraft....soon to be no more

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  • louby40
    louby40 Posts: 1,519 Forumite
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    Only managed 4 NSD so far this month. Must try and improve this over the second half of the month.
  • mummytogirls
    mummytogirls Posts: 6,578 Forumite
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    Snap on the NSD's Louby, I'm at 4 too!!!

    Sounds like you've got a sound plan in place for your renovations etc over the next few years xx
    Mummytogirls x

  • louby40
    louby40 Posts: 1,519 Forumite
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    Thanks MTG. I plan on saving as much as I can and paying for things as I go! I'm forgoing my holidays abroad which usually cost me £3k a year now my boys are teenagers. They have a few holidays planned with their dad so I don't feel too bad.
  • SpekySquarehead
    SpekySquarehead Posts: 3,019 Forumite
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    Louby - your plan sounds very well thought out and considered, so good on you. Lessons learned from getting into bad debt.
  • louby40
    louby40 Posts: 1,519 Forumite
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    Thanks Speky. My spending (and debt) will be planned and controlled. YNAB has helped me immensely with managing my budget. Each month I barely go into my overdraft, bills are paid, savings made and my short (and long term) debt comes down every month.

    In early 2015 I was living in a house I couldn't afford with a monthly mortgage of £1300, £10k in credit card debt and I owed my parents £6k. Now I have no credit card debt, i owe my parents just over £1k and I have a manageable mortgage.

    I'm in a totally different place.
  • SpekySquarehead
    SpekySquarehead Posts: 3,019 Forumite
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    Louby I can tell you're in a better place. It's fantastic.

    For me, although being in debt was a terrible feeling, so much good has came from it. Like you, I'm in control of my cash and know what I'm doing. Which is thanks to YNAB too I suppose.

    Keep up the amazing work!
  • louby40
    louby40 Posts: 1,519 Forumite
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    Only 5 NSD so far! Not great.

    I'm still waiting on a quote from my builder. I've also being looking for kitchen flooring and the type I want is too expensive so I'm going to have to re think.

    Ten days to pay day and I'm still in the black. Yay for YNAB
  • kittykatneedscash
    kittykatneedscash Posts: 105 Forumite
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    Well done Louby you are doing great isn't it great to feel in control of your finances.

    'Each month I barely go into my overdraft, bills are paid, savings made and my short (and long term) debt comes down every month.

    In early 2015 I was living in a house I couldn't afford with a monthly mortgage of £1300, £10k in credit card debt and I owed my parents £6k. Now I have no credit card debt, i owe my parents just over £1k and I have a manageable mortgage'.

    This is brilliant well done! Always good to look back as see how far you've come on your journey. Kitty
  • louby40
    louby40 Posts: 1,519 Forumite
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    Thanks Kitty! It's the control that's the key. Knowing where every penny is going and realising you can't just have whatever you want!

    Wish I'd realised that 20 yrs ago
  • SpekySquarehead
    SpekySquarehead Posts: 3,019 Forumite
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    God bless YNAB
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