misstara's debt diary 2014
misstara
Posts: 3,877 Forumite
Have been in debt for about 10 years (and been lurking on here for ages) but had kidded myself into thinking I was doing quite well - always making the minimum payments plus a little extra, occasional purchases on credit cards but generally plodding along ok.
Until last week I calculated that last year I managed to reduce my debt by £350 - yep that's £350 for the entire year which is roughly about the same amount that I pay towards my debts each month. Clearly I'm going to have to make some changes or be in debt forever!
Current debt stands at around £10,500, split over 2 credit cards with about £2000 on each and a loan with about £6,500 left to pay - will have to dig out statements to check exact figures.
I'm going to turn 30 later this year and the realisation that I have been in debt for the whole of my 20s is scary. I certainly don't want to be in this position in another 10 years!
So to start off my debt free journey, I have made a £3.00 payment towards one of my credit cards today - not much but at least its a start!
Until last week I calculated that last year I managed to reduce my debt by £350 - yep that's £350 for the entire year which is roughly about the same amount that I pay towards my debts each month. Clearly I'm going to have to make some changes or be in debt forever!
Current debt stands at around £10,500, split over 2 credit cards with about £2000 on each and a loan with about £6,500 left to pay - will have to dig out statements to check exact figures.
I'm going to turn 30 later this year and the realisation that I have been in debt for the whole of my 20s is scary. I certainly don't want to be in this position in another 10 years!
So to start off my debt free journey, I have made a £3.00 payment towards one of my credit cards today - not much but at least its a start!
Debt Dec 2022 - £2972.68. Current debt - £0 (100% paid). Flat deposit - £10542.72/£15000 (70.3% saved). Emergency fund - £1402.24/£1500 (93.5% saved).
0
Comments
-
Exact figures for debt: loan - £6409.78, cc1 - 1949.53 and cc2 - 2098.78, interest still needs to be added on for this month so this will rise a bit except cc2 which is interest free for another 20 months. Ideally I would like my total debt to be under £8000 by the end of the year. Think it is doable as long as I really focus.
Had the day off work today, sat down with OH earlier and made a meal plan for the rest of the week. So £19.32 spent on food shopping.Debt Dec 2022 - £2972.68. Current debt - £0 (100% paid). Flat deposit - £10542.72/£15000 (70.3% saved). Emergency fund - £1402.24/£1500 (93.5% saved).0 -
So a NSD today, mostly because I have no money until I get paid tomorrow but still good.
Not done much today, gym this morning then made a pot of soup which will do my lunches for the next few days, then work.
Looking forward to getting paid tomorrow to pay a wee bit off my debt!Debt Dec 2022 - £2972.68. Current debt - £0 (100% paid). Flat deposit - £10542.72/£15000 (70.3% saved). Emergency fund - £1402.24/£1500 (93.5% saved).0 -
So payday today! I have two part time jobs, one paid weekly and the other monthly so got £117.78 from weekly paid job today.
Paid £17.78 to cc1
Spent £18 on a birthday present
Spent £4.65 on eggs and veg at local market
Put aside £20 for electricity bill (due in Feb)
Put aside £10 towards wedding expenses (not my wedding!!)
Leaving £45ish to do me until next Friday
Will need around £10 for bus fares to work and going for lunch with a friend during the week, have budgeted £10 for that. Hopefully should not need much else so will put anything left by next Friday towards cc1.
Over the past few years, a lot of my family and friends have got married and I have two this year. One is fairly local so shouldn't be too expensive but one is the other side of the country so will need probably £150-200 to pay for travel/accommodation.Debt Dec 2022 - £2972.68. Current debt - £0 (100% paid). Flat deposit - £10542.72/£15000 (70.3% saved). Emergency fund - £1402.24/£1500 (93.5% saved).0 -
Hey misstara,
Good luck on your journey. When are you planning to get debt free? I am also turning 30 this year (eeek :eek: scary scary thought) and would be amazing if I can ditch the debt before then.[STRIKE]Family £400[/STRIKE] CC1 [STRIKE]£415[/STRIKE] Lloyds [STRIKE]£460[/STRIKE] [STRIKE]Natwest£750[/STRIKE] £627.59 Tesco [STRIKE]£1880[/STRIKE] £1725 Grand total £2,352.59
Pay off all debt by xmas 2014 #136 £1552.41/£3905
Additional money made 2014 £88.500 -
Hi Misstara,
Sounds like you have a good plan in action.
I am similar to you, but turning 40 next July and haved vowed to have killed off all or nearly all of the debt by then. (Fingers Crossed)
Good luck, I have subscribed to your diary xx0 -
Hello Kei and StressedSteph. I'm aiming for dec 2016, think 3 years is doable! Good luck to you both. Would love to get rid of the debt before the 'big' birthday but not going to happen in 5 months!
Quick update for yesterday as I was so tired after work I just crashed out and didn't post. Minimal spend yesterday: £3 to post birthday present and 50p on a baguette to go with my soup for lunch.Debt Dec 2022 - £2972.68. Current debt - £0 (100% paid). Flat deposit - £10542.72/£15000 (70.3% saved). Emergency fund - £1402.24/£1500 (93.5% saved).0 -
Sorry Misstara I missed the bit where your birthday was in only 5 months. Wow would'nt that be nice to clear the debt by then, but completely impossible.
Good cheap days yesterday of £3.50. :T0 -
Yeah would be nice but not going to happen! I quite often have days where I don't spend much but really really seem to struggle with NSDs so will try to improve this month.
Am currently enjoying a well-deserved gin and tonic at home after having a busy weekend at work. Have tomorrow morning off so looking forward to my lie-in already!
Spends for today are 6.43 in butchers and 4.96 on milk, sugar and bread.Debt Dec 2022 - £2972.68. Current debt - £0 (100% paid). Flat deposit - £10542.72/£15000 (70.3% saved). Emergency fund - £1402.24/£1500 (93.5% saved).0 -
Hi misstara
Best of luck with your debt free journey. I had roughly the same amount of debt (maybe a little more) in my mid-20s and I was determined to put myself in a better financial position by the time I was 30.
It was a tough slog ended up (ended up selling my car and all sorts) but it was worth it as I managed to clear all the debt plus save a deposit for a house which i got in 2010.
I'm much better with money now and I'll be starting my mfw journey as of next month
DC0 -
Good luck on your journeysealed pot challenge 099
2013 £365 in total
2014 ???? Target £400
debt 1 [STRIKE]6753[/STRIKE] [STRIKE]6386[/STRIKE] 0000 debt 2 [STRIKE]4973[/STRIKE] [STRIKE]4731[/STRIKE] 0000 debt 3 [STRIKE]3673[/STRIKE] 0000 debt 4 [STRIKE]2400[/STRIKE] [STRIKE]2239[/STRIKE] 0000
OH debt [STRIKE]3800[/STRIKE]2780
Bank of Mum [STRIKE]£2750[/STRIKE] 20000
This discussion has been closed.
Categories
- All Categories
- 343.1K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.2K Work, Benefits & Business
- 607.9K Mortgages, Homes & Bills
- 173K Life & Family
- 247.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards