Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Disco Dolly
    • By Disco Dolly 5th Apr 14, 3:03 PM
    • 188Posts
    • 201Thanks
    Disco Dolly
    Disco Dolly V's Debt
    • #1
    • 5th Apr 14, 3:03 PM
    Disco Dolly V's Debt 5th Apr 14 at 3:03 PM
    I have just discovered this forum and the Debt Free Diaries board. I think a diary is a great idea and am really hoping it will keep me on track on my debt free journey. I am from Ireland not UK so hope you don’t mind me posting here.

    Basically I have had my head in the sand for a long time continuing with credit and living way beyond my means. My light bulb moment came this January (New Years Resolution if you like!), I realised I owed a lot of money, I had no savings/emergency fund and nothing to show for my years of working – just massive debt! I earn good money but have little or no disposable income due to servicing this debt.

    I am a single mother of one working full-time. I earn €45,000 approx per year, my ex pays €50 maintenance per week and I receive child benefit of €130 per month, no other benefits. I have a mortgage on my own and it’s fully up-to-date. The good news is I have a good credit rating and have never missed a payment.

    Since January I have been reviewing where I am going wrong, I am in the process of cutting back on expenses, grocery bill is substantially lower, eating out is reserved for special occasions only, I have reviewed insurance and utilities and changed companies where possible, I am debating getting rid of Sky TV but have cut down to the lowest package for the moment, I have started car pooling to work, cancelled my mobile phone contract and switched to pay as you go and I have changed to a new bank current account with no fees. I have cleared my overdraft and the new bank account has no overdraft facility. All debts are up-to-date and also all utility bills, etc. I am also just starting to look into what I can sell at the moment.

    I have recently discovered Dave Ramsey and am going to try following his Baby Steps. I have ordered his Total Money Makeover book but it hasn't arrived yet. I am working on building a €1000 emergency fund and at the moment I have €700, I am hoping to have the full €1000 by the end of next month. And then I am moving on to my debt snowball, starting with first credit card. I have also done up a budget and am sticking to it so far.

    Embarrassed to write all this down but currently my debts stand at:
    Overdraft - €2400 to €0
    Loan 1 - €2397.13
    Credit Card 1 - €2,736.00
    Credit Card 2 - €4,381.49
    Loan 2 - €9,831.72
    Current Debt Total - €19,346.34

    My aim is to be debt free apart from my mortgage as soon as I possibly can. Then hopefully I can work on building savings and tackle the mortgage after that!
    Last edited by Disco Dolly; 25-01-2016 at 10:17 PM.
Page 10
    • Disco Dolly
    • By Disco Dolly 28th May 17, 2:46 PM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Hi DFW's,

    I'm having a mostly lazy Sunday, the only thing I have done is all the laundry which is now out on the line in the sunshine. DD is busy studying for exams upstairs, she is finished her 2nd year of secondary school at the end of this week. Can't believe how quickly that school year has gone.

    On the debt front I am still at €3450 and that is where is will stay until next payday. I applied for a new credit card with a 0% balance transfer so just waiting to hear back on that, it will save me about €250 of interest if I stick to my payment plan and make me debt free one payday earlier so decided to go for it! There are not many 0% balance transfer offers in Ireland, this one is a new credit card on the market and its 0% balance transfer for 9 months so it suits me. Better in my pocket and all that!

    Hope you are all having a lovely weekend
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 1st Jun 17, 9:14 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    I can't believe its June already! Monthly update below:

    01 Jan - €9,092.38
    01 Feb - €8,570.04
    01 Mar - €8,051.90
    01 Apr - €3,600.00
    01 May - €3,700.00
    01 Jun - €3,450.00

    Back on track now, aiming to be debt free in October
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 1st Jun 17, 9:25 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Hi DFW's,

    June already, this year is really flying by. I've just posted my monthly update above and updated my signature. I'm definitely back on track now and I'm happy overall with my progress in the first 5 months of the year. I just worked out that I have cleared 85% of my debt so far. 15% to go, I'm definitely on the home stretch.

    I got approved for the new credit card and will transfer the balance when it arrives, I have 0% for 9 months, delighted with that. My current card had ran out of 0% back in March so I've been paying interest at 20.7% APR!! Cant wait to transfer the balance and cut up the old card.

    Payday is tomorrow so I can make another dent in the debt balance then & have a smaller balance to transfer over, onwards & downwards!

    Happy Thursday to you all
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 7th Jun 17, 11:36 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Hi DFW's,

    I'm getting so bad at updating this! Not much to report, payday was Friday and I paid €100 off the credit card. I am waiting on new credit card to arrive so I can do the balance transfer. I should be able to pay another bit off later this week. Debt total now €3350.

    Happy Hump Day to all
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 8th Jun 17, 12:33 PM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Afternoon DFW's,

    So my new credit card arrived yesterday and I rang today to organize the balance transfer - 0% for 9 months. It should only take 1-2 business days to complete the transfer so my current credit card should be clear by the end of the week/early next week and then I can start paying down on the new one interest free. I hope to be debt free in 4 months so delighted with the 0% balance transfer, it will save me a bit of interest anyway.

    A good friend emigrated to Canada yesterday so once debt is clear I hope to start saving so I can go over and visit her! So I am determined to get debt free ASAP!

    Hope your Thursday is going well
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 16th Jun 17, 10:54 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Happy Friday DFW's,

    I am really getting so bad at updating this diary, its been over a week!

    Latest update is credit card balance transfer is now complete and old credit card is no more. I worked out that I paid over €90 in interest in the last couple of months since my 0% ran out on that card!! So at least now the new card is at 0% and all money I pay off will go off the balance, no more pesky interest! Today is payday so I have paid another €250 off the card so debt balance now stands at €3,100 and signature updated

    I am hoping to pay more off before 1st July as my next payday is 30th June So hopefully I will be going into July below the 3k mark.

    Hope you all have a fab weekend, weather is meant to be good in Ireland (for a change!)
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 1st Jul 17, 1:12 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Monthly update below:

    01 Jan - €9,092.38
    01 Feb - €8,570.04
    01 Mar - €8,051.90
    01 Apr - €3,600.00
    01 May - €3,700.00
    01 Jun - €3,450.00
    01 Jul - €2,950.00

    Yay! I'm below the 3K mark now, €500 paid off this month
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 1st Aug 17, 9:04 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Monthly update below:

    01 Jan - €9,092.38
    01 Feb - €8,570.04
    01 Mar - €8,051.90
    01 Apr - €3,600.00
    01 May - €3,700.00
    01 Jun - €3,450.00
    01 Jul - €2,950.00
    01 Aug - €2,750.00

    Not doing as well this month, just €200 paid off debt. Must try harder!
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 1st Sep 17, 8:34 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Monthly update below:

    01 Jan - €9,092.38
    01 Feb - €8,570.04
    01 Mar - €8,051.90
    01 Apr - €3,600.00
    01 May - €3,700.00
    01 Jun - €3,450.00
    01 Jul - €2,950.00
    01 Aug - €2,750.00
    01 Sep - €2,500.00

    Only €250 paid off debt this month due to back to school bills and unplanned mini garden makeover! Definitely not going to make my end of October goal, so going to try for year end instead, at least all my debt is at 0% and I should be able to ramp up the debt repayments now. At least its going in the right direction, I feel like I've come a long way this year
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 22nd Sep 17, 8:46 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Morning DFW's,

    I havent been posting here much lately. Today is payday and I've paid another €250 off the credit card which brings by debt total down to €2100. I'm ridiculously happy as this is just below 10% of my original debt mountain, a bit of a milestone for me today. I've never got this far in any previous debt-busting attempts. Finally on the home stretch and determined to be debt-free in the very near future!

    Happy Friday to you all
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • fruitloop04
    • By fruitloop04 22nd Sep 17, 8:57 AM
    • 146 Posts
    • 430 Thanks
    fruitloop04
    Didn't want to just read and run - well done for getting to 10% of your original debt! Such an achievement Not long to go now and then you will be jetting off to Canada before you know it!
    16.08.2017 CC 1 - £2050 £1603.47 CC 2 - £1766.82 £1163.36 Emergency savings: £1000/£6000
    Mortgage - April 2017 £153,000 £149,954
    Debt free by xmas: 1070.86/1500
    (Non Mortgage) Debt Free Date: August 2018
    • Disco Dolly
    • By Disco Dolly 26th Sep 17, 8:46 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Didn't want to just read and run - well done for getting to 10% of your original debt! Such an achievement Not long to go now and then you will be jetting off to Canada before you know it!
    Originally posted by fruitloop04
    Thanks fruitloop04 (love your username!) Hopefully the debt will be gone this year and I can start saving for Canada and go next year
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 26th Sep 17, 8:48 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Happy Tuesday DFW's,

    I got a €50 cheque from survey company which I forgot all about so paid that off the credit card too, so new debt total is €2050. I have paid over €7000 off debt this year, thats the most I've ever managed, I'm feeling well chuffed with myself
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 1st Oct 17, 12:08 PM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Monthly update below:

    01 Jan - €9,092.38
    01 Feb - €8,570.04
    01 Mar - €8,051.90
    01 Apr - €3,600.00
    01 May - €3,700.00
    01 Jun - €3,450.00
    01 Jul - €2,950.00
    01 Aug - €2,750.00
    01 Sep - €2,500.00
    01 Oct - €2,050,00

    €450 paid off debt this month which is a lot better than the past couple of months but I really need to step it up if I want to be debt free this year. I need to be hitting €700 off debt per month and I'm not sure that is possible, I've never paid that much per month and Christmas is in there too. I think I need a miracle to be debt free this year
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • BettyBones
    • By BettyBones 4th Oct 17, 10:14 PM
    • 156 Posts
    • 299 Thanks
    BettyBones
    Despite being debt free now I'm still lurking around and cheering you on Disco
    If you can dream it, you can do it - Walt Disney
    • Disco Dolly
    • By Disco Dolly 5th Oct 17, 10:28 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Despite being debt free now I'm still lurking around and cheering you on Disco
    Originally posted by BettyBones
    Thanks Betty! Did you enjoy the cruise? Are you enjoying debt-free life?
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • BettyBones
    • By BettyBones 5th Oct 17, 11:02 AM
    • 156 Posts
    • 299 Thanks
    BettyBones
    The cruise was amazing thank you. I loved every minute of it and fulfilled my dream of standing on the top deck with a pina colada, waving goodbye to blighty and sailing off into the sunset knowing that I no longer owed so much as a penny to anyone But all good things must come to an end and I'm now on a mission to continue to scrimp and scrape in order to get some savings behind me. It's really frustrating because there's always something to pay out for. Especially when you have children who want new trainers every 5 minutes! One step forwards, two steps back. But at least I'm generally now heading in the right direction. Good luck with clearing the rest of your debt... you'll be exalting in your debt freedom soon I'm sure
    If you can dream it, you can do it - Walt Disney
    • Disco Dolly
    • By Disco Dolly 6th Oct 17, 8:44 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    The cruise was amazing thank you. I loved every minute of it and fulfilled my dream of standing on the top deck with a pina colada, waving goodbye to blighty and sailing off into the sunset knowing that I no longer owed so much as a penny to anyone But all good things must come to an end and I'm now on a mission to continue to scrimp and scrape in order to get some savings behind me. It's really frustrating because there's always something to pay out for. Especially when you have children who want new trainers every 5 minutes! One step forwards, two steps back. But at least I'm generally now heading in the right direction. Good luck with clearing the rest of your debt... you'll be exalting in your debt freedom soon I'm sure
    Originally posted by BettyBones
    That sounds amazing Betty, great way to celebrate being debt free. Best of luck with your savings, I hope to do the same when I am debt free & I have one of those teenagers too. DD is trainer obsessed, she has too many pairs and always wants more!
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 6th Oct 17, 8:48 AM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Hi DFW's,

    Payday has come round again and I have paid another €200 off the credit card so my new debt total is €1850. I am below the 2k debt mark for the first time in my adult life I might be able to pay a little more this paycheck, I'll see how it goes.

    I had intended to pay slightly more but instead I joined the pension in work so my wages are down a bit. I have been meaning to join for ages, I had a pension from a previous job and never got round to sorting it out in this one. And then I got used to wages so was reluctant to join but I bit the bullet this week. Its a no brainer, for every €60 cost to me its worth €200 in the pension fund and I'm not getting any younger. Feel like a grown up now being almost debt free and joining a pension

    Onwards & downward, hope you all have a lovely weekend
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
    • Disco Dolly
    • By Disco Dolly 20th Oct 17, 2:38 PM
    • 188 Posts
    • 201 Thanks
    Disco Dolly
    Hi DFW's,

    Payday again, time is flying by! €300 paid off the credit card so debt total is now €1550. I might try to find another €50 somewhere in my budget as I like nice round numbers

    Aiming to pay €300 every fortnight after this and if I manage to stick to that schedule I will be debt free by yearend.

    Hope you all have a lovely weekend
    LBM Jan 2014: €21,746.34
    Total May 2017: €1,550.00
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

315Posts Today

3,694Users online

Martin's Twitter
  • RT @LordsEconCom: On Tuesday Martin Lewis, Hannah Morrish & Shakira Martin gave evidence to the Cttee. Read the full transcript here: https?

  • Ta ta for now. Half term's starting, so I'm exchanging my MoneySavingExpert hat for one that says Daddy in big letters. See you in a week.

  • RT @thismorning: Can @MartinSLewis' deals save YOU cash? ???? https://t.co/igbHCwzeiN

  • Follow Martin