Cailbhinn's debt journey!

Cailbhinn
Cailbhinn Posts: 93 Forumite
edited 23 October 2016 at 9:14PM in Debt free diaries
Hello all. I've been a long-time lurker of MSE and finally am in the right place to get my debt sorted, I turned 30 this year and have had credit card debt since I was 18. Stupid decisions, ignorance and lack of foresight got me here. Shifted around on 0% cards for 10 years until those deals did not come so easily so now on long-term low interest card so another reason to get rid!

My main reason however was reviewing last months spends. i spent nearly £400 on food alone. For one person. :eek: Disgusting! I re-connected YNAB a few weeks back and am following it religiously. For the first time I have a buffer and also will likely have extra to pay off of the CC debt rather than just above the minimums! I have curtailed my spending and I'm not fading away to a shadow! I just think about things more rather than tapping that wee card onto the reader!

My debt is currently sitting at £12,956 :(

I am determined however and hope this diary will help to motivate me to reach that highest honour of appearing on the debt free roll of honour! And also make me a spendthrift whilst still enjoying life. One day I may be on that property ladder which seems like an unachievable dream at the minute. Thanks in advance for the support.
Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)
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Comments

  • ab_saver
    ab_saver Posts: 334
    First Post Debt-free and Proud!
    Forumite
    Good luck! :)
    House fund: ~£5000 / £10,000 :D_£1000 emergency fund #208 - £151.74/ 1000 _
  • Thanks very much ab_saver!
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)
  • Well it's 11.59pm and today has been a NSD. Small steps!
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)
  • Welcome Cailbhinn. I might follow your progress if that is ok. Apart from having slightly more debt that you, I think you sound very similar to me. Without any checks or planning I could easily spend £400 on food.
    Hope the diary helps. Looking forward to reading it. xx
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
  • Of course you can follow me! All support or boots-up-the-erse most graciously received! Debt is so easy to get yet so hard to get rid off. Just like my ever-expanding gut! I have a good well-paid job and thankfully not added to the debt recently but it's like a black cloud hanging over me. I'm sure you're well aware of this too!

    All the best and hopefully see you around1
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)
  • Do you know it's mental how much money you can fritter away? Just worked out I spent £30 last month on getting car washed! I have arms, a sponge and a bucket so absolutely no need for such expenditure. That £30 can go to debt repayment.
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)
  • louby40
    louby40 Posts: 1,505
    First Anniversary First Post Combo Breaker
    Forumite
    Hey, good luck on recognising your debt and facing it full on. Yep £400 for 1 person is a LOT of food, but you recognise that now so onwards.

    Keep posting, they're a fab bunch on here!
  • Cailbhinn
    Cailbhinn Posts: 93 Forumite
    edited 16 October 2016 at 5:12PM
    Thanks louby40. Everyone seems so nice and all in the same boat which helps.

    Today was another NSD. Porridge and banana for breakfast, no lunch and went over to mums for roast dinner. Bought food for the week at work (and some deodorant) and used the silver I had been putting in my sock drawer (don't ask!).

    Other than the above I've had a lazy day. But productive lazy day as been going through my bank statements to see where I am (partly) going wrong. Other than food as mentioned above, cash withdrawals seems to average £200-300 p/m. i honestly don't know what for except for known nights out. Glad i am using YNAB now so this will be easier to track.
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)
  • Katzen
    Katzen Posts: 535
    Uniform Washer
    Forumite
    Hello! Mind if I join you? Not a DFW myself but I find this a good place to hang out for motivation to be frugal and keep my money rather than fritter it away. How about posting an SOA? It seems like you're in a good place and can afford your debt, so to speak, but it might help you get things in perspective if you write it all down. Plus, who doesn't love to give a bit of advice and have a nose at other people's finances?
    Best of luck
    Katz
    Mortgage Outstanding Nov '16 £142,772.75
    Mortgage Additional OPs 2017 Target £4522.80/ Actual £865.00
    GC Feb 0/£200
  • louby40
    louby40 Posts: 1,505
    First Anniversary First Post Combo Breaker
    Forumite
    Cailbhinn when I had my LBM back in June and I looked at what I was spending I realised I was making extra trips to the local Co-op and buying wine, choc extra milk etc and spending £10 a time once, maybe twice a week.

    Plus I was buying stuff off ebay/Amazon for work (I'm a teacher) so I just stopped. I just started being really hyper aware of what I was buying and decided not to spend any more.

    Using YNAB has made a massive difference. And I've sold tons of stuff on ebay and started doing surveys which has helped with about £50 towards my CC.

    It all helps. But life must go on too - which I forget sometimes!
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