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    • Disco Dolly
    • By Disco Dolly 5th Apr 14, 3:03 PM
    • 178Posts
    • 191Thanks
    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 9
    • Disco Dolly
    • By Disco Dolly 23rd Feb 17, 1:44 PM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    Hi DFW's,

    Ooops I haven't updated this diary since the weekend. Not much to report really though, its the day before payday so I am living for tomorrow to make some more debt repayments. I had NSD's on Sunday Monday and Tuesday. Spent a little yesterday and today but that should be it now til I get paid tomorrow. I managed to live on the little bit of cash I had in my wallet, I think I have €6 left which I should really put into my savings jar this evening. YNAB is still going well, I am very conscious of category balances and spending in general has gone down.

    I re-did my debt repayment plan last night and am tempted to flip it on its head and pay the CC first while its 0% (only til mid March), I could save more on interest that way but my dilemma is I think I should clear the loan first in case my car gives up, that way if I did need to borrow for a car I would be able to. Mind you I am going to try to avoid borrowing and hoping my car lasts me a little longer and gives me a chance to save for a newer car after debt repayment is done! Decisions decisions!

    Happy Thursday to you all!
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • BettyBones
    • By BettyBones 23rd Feb 17, 4:41 PM
    • 154 Posts
    • 293 Thanks
    BettyBones
    Hi Disco, pay day will be here before you know it. Yipee! Mine's not till Tuesday so in the meantime I'm hoping that my expenses land in the bank tomorrow so I can pay my car tax and stick some pennies in the motoring fund. Like you I'm also going to need a newer car at some point (mine will be 10 years old next year) so I'm currently trying to save all my mileage expenses and anything left over from my weekly petrol budget to get a newer one and hopefully pay for it outright in cash Well done on getting three NSD's in a row
    • Disco Dolly
    • By Disco Dolly 24th Feb 17, 10:35 AM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    Hi Disco, pay day will be here before you know it. Yipee! Mine's not till Tuesday so in the meantime I'm hoping that my expenses land in the bank tomorrow so I can pay my car tax and stick some pennies in the motoring fund. Like you I'm also going to need a newer car at some point (mine will be 10 years old next year) so I'm currently trying to save all my mileage expenses and anything left over from my weekly petrol budget to get a newer one and hopefully pay for it outright in cash Well done on getting three NSD's in a row
    Originally posted by BettyBones
    Thanks BettyBones, I live for payday LOL. My car is 2002 model so 15 years old this year, eek! Thank God I have no trouble with it lately and it passed the MOT last September with no issues but I really need to think about upgrading, I'm hoping it lasts until I clear this old debt. I'd love to be able to save for a newer car then but I'll most likely have to take out a loan and then I'll be back to debt-busting again The NSD's really make the difference, I'm like a miser lately
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • Disco Dolly
    • By Disco Dolly 24th Feb 17, 11:27 AM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    Morning all,

    Well its finally payday, I have made payments to both debts and signature is updated. New Debt total is €8,051.90, I am going to try and find €52 in my budget somewhere to see if I can get the debt total below €8,000, hopefully I can scrimp somewhere to make that happen!

    Next payday should be my yearly bonus and hopefully I will have in the region of €2,000 to put off my debt. We still haven't been told what the exact figure is yet for payrise or bonus so hopefully my estimations are close enough. Either way its all going off debt anyway! Still debating using my savings to clear the loan in full but sort of leaning towards keeping it there and plugging away at the debt. It would bring my DFD from June to August but I would have €2k in savings at that point so its all the same really!

    Looking forward to finishing work today, its been a long week!

    Happy Friday to you all
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • Disco Dolly
    • By Disco Dolly 1st Mar 17, 7:33 PM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    Hi DFW's,

    Crazy busy in work this week so haven't had a chance to post.
    I can't believe its March already! Monthly update on debt below:

    01 Jan - €9,092.38
    01 Feb - €8,570.04
    01 Mar - €8,051.90

    I'm happy with progress this month, its great seeing that figure going down. So its just over €1,040 paid in 2 months, not too bad as January was a bad month.

    I should be in a much better position when I do the next monthly update. Payrise & bonus will have come through by then, I can't wait. And I'm hoping to up my monthly payments after that as I have made a few changes to my budget and can cut back in a few places. I'm still hoping to be debt free by end of June or alternatively end of August if I don't use the €2,000 I have in savings.

    Trying to clock up some NSD's but not working so far this payday, I've spent money every day since I was paid last Friday!
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • BettyBones
    • By BettyBones 2nd Mar 17, 1:04 PM
    • 154 Posts
    • 293 Thanks
    BettyBones
    You're doing fab Disco! I know what you mean about NSD's. I'm literally not leaving the house at the moment as I don't want to be tempted to spend anything anywhere. I too feel like a complete miser
    If you can dream it, you can do it - Walt Disney
    • Disco Dolly
    • By Disco Dolly 3rd Mar 17, 9:29 AM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    You're doing fab Disco! I know what you mean about NSD's. I'm literally not leaving the house at the moment as I don't want to be tempted to spend anything anywhere. I too feel like a complete miser
    Originally posted by BettyBones
    I intend to do the same this weekend, DD is in her dads house and I have enough food in the house so shouldnt need to buy anything so I am not leaving the house! I'm hoping to fill my time decluttering, I really need to tackle my bedroom but I say that to myself every weekend and just never get started LOL. I wonder if we'll get the same buzz for saving as we have for debt-busting and be misers forever
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • Disco Dolly
    • By Disco Dolly 12th Mar 17, 7:43 PM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    Hi DFW's,

    I'm failing at diary updates lately!

    Only real update is I got paid on Friday and made debt repayments and updated my signature. My debt now stands at €7,867.35, so finally below €8,000

    Not much else to report really, my next payday will be my bonus. I still dont know the actual amount I am getting but guessing based on the last few years. So I should be down to one debt soon.

    Had a very quiet weekend but it absolutely flew by, I can't believe its Sunday evening already.

    Hope you all had a nice weekend
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • Disco Dolly
    • By Disco Dolly 24th Mar 17, 9:05 PM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    Good evening DFW's,

    Today is payday & bonus day so I've been able to put my plan in action and can now say I am down to one debt! I cleared my loan using my bonus and savings tied to the loan. And I have also paid €200 off the credit card. So my new debt total is €3,600

    I'm absolutely thrilled to make such a big debt repayment this month. I was just reading back to my first few posts and the original DFD was May 2017, I might not be too far past that date after all. Mind you my savings have taken a huge dent now and I plan to start again when I get debt free, I want to use that account to start DD's college fund properly. I have just one credit card now with €3600 balance, the 0% offer finished this month so I will be paying interest from now on so the pressure is on to clear it as quickly as I can.

    I'm 83% of the way there and finally below €4,000, not a bad days work!

    I hope you all have a lovely weekend, I'm off to update my signature
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • Disco Dolly
    • By Disco Dolly 26th Mar 17, 10:54 PM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    Hi DFW's,

    Happy Mothers Day to all the mums out there. I had a lovely day with my mam and DD, we went out for lunch and then some retail therapy. So I had a bit of a spendy day today. DD got me lovely presents and I really enjoyed the day.

    On the debt front, I am so happy to be down to one debt now. I cant believe this time last year I had 4 debts, the snowball method really works. It seems never-ending at the start but you can really see it working as the debts get cleared one by one. I am feeling really positive about it now, I can see the end in sight, I'm determined to get there as soon as I can.

    Hope you all had a lovely day!
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • Disco Dolly
    • By Disco Dolly 2nd Apr 17, 1:43 PM
    • 178 Posts
    • 191 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

    I'm so happy with that update, huge progress this year for first 3 months thanks to work bonus and savings against loan. I just have to keep the momentum going now, the end is in sight! I hope to be finishing this year with no debt and loads of savings
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • BettyBones
    • By BettyBones 28th Apr 17, 7:05 PM
    • 154 Posts
    • 293 Thanks
    BettyBones
    Hey Disco Dolly... where you go? Hope all is okey dokey with you?
    If you can dream it, you can do it - Walt Disney
    • Disco Dolly
    • By Disco Dolly 30th Apr 17, 12:49 PM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    Hey Disco Dolly... where you go? Hope all is okey dokey with you?
    Originally posted by BettyBones
    Oh Betty, I'm still here, thanks for asking. I've had a disaster month for April so trying to recover as quickly as I can.

    So 3 things happened that cost money - car trouble, emergency dental work for me and trip to A&E for DD (she is fine, suspected broken bone but all turned out Ok thank god!). I only had a little bit of savings which was originally meant for car insurance which is up next month So I ended up having to put €300 on the credit card which I suppose is not that bad seeing as the 3 things hit at once. I've since managed to pay €200 off the credit card. So my debt total has only risen by €100 which in the grand scheme of things I suppose is not that bad. But I feel like a failure as the debt total is going the wrong direction for the first time in a long time. And I've depleted my car insurance savings pot. Disaster month. But I'm going to dust myself off and May will be a better month.
    Last edited by Disco Dolly; 30-04-2017 at 12:58 PM.
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • Disco Dolly
    • By Disco Dolly 30th Apr 17, 12:52 PM
    • 178 Posts
    • 191 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

    Debt total risen due to April disasters, working to turn it around for June but not sure what progress I will make as car insurance is due at the end of May and my renewal is €890 (car insurance is ridiculous in Ireland!). I might end of having to pay car insurance monthly by direct debit, I havent decided yet. Onwards & downwards for June!
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • BettyBones
    • By BettyBones 30th Apr 17, 3:03 PM
    • 154 Posts
    • 293 Thanks
    BettyBones
    Aww... Disco.... what a bummer! I think our children must be connected in some way. My DS was also in A&E last week, with a suspected broken ankle, but thankfully it was just ligament damage. it's the second time he's done it in 3 months so I've booked him in for some physio which luckily won't cost me anything as he's covered until he's 18 under the free health care plan I get through work.

    You haven't failed at all. Life is constantly throwing us curve balls. It's how we deal with them that matters Just put it behind you and keep on keeping and you'll get there. I have every confidence in you. And I'm hanging around these ere forums until I see your debt free post on the roll of honour too! So don't you be leaving me haha
    If you can dream it, you can do it - Walt Disney
    • Disco Dolly
    • By Disco Dolly 30th Apr 17, 4:36 PM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    Aww... Disco.... what a bummer! I think our children must be connected in some way. My DS was also in A&E last week, with a suspected broken ankle, but thankfully it was just ligament damage. it's the second time he's done it in 3 months so I've booked him in for some physio which luckily won't cost me anything as he's covered until he's 18 under the free health care plan I get through work.

    You haven't failed at all. Life is constantly throwing us curve balls. It's how we deal with them that matters Just put it behind you and keep on keeping and you'll get there. I have every confidence in you. And I'm hanging around these ere forums until I see your debt free post on the roll of honour too! So don't you be leaving me haha
    Originally posted by BettyBones
    Thanks Betty, teenagers eh?! I swear DD is known by name in A&E, only for the accidents all happen at school, social services would have been called at this stage! I've just realised that I can claim the A&E back through a school insurance policy that I pay, will get on to that on Monday. And similarly I am entitled to some refund back on my dental work through my health insurance, must look into that too. And another plus - I've been shopping round for cheaper car insurance online all afternoon and have found another company that is €300 cheaper for a better policy! So its all looking up already. At least I can get some money back and throw is back at the debt. I really must build back up my emergency fund though, its zero at the moment.
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • BettyBones
    • By BettyBones 30th Apr 17, 7:29 PM
    • 154 Posts
    • 293 Thanks
    BettyBones
    Hahaha... likewise... my DS has been to A&E no less than 9 times in the last 2 years! And pretty much all through playing football/rugby at school. Although his latest trip was the result of falling in a pot hole whilst playing footie on a camping trip!

    Fab news about the car insurance and being able to claim a bit back on your medical expenses. Every little helps...

    My emergency fund is sitting at pretty much zero too But I plan to work on that when I get back from me holibobs.

    Have a great (debt-busting) week!
    If you can dream it, you can do it - Walt Disney
    • Disco Dolly
    • By Disco Dolly 8th May 17, 10:40 AM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    Hi DFW's,

    I am getting so lax at updates lately. Its like I am money focused until April and then I go off the rails! It must be like a new years resolution thing that I am enthusiastic for the first few months lol

    Good news on the money recuperation front! I have put in a health insurance claim against dental & doctors expenses for €75 back of the €200 I paid out (I always forget I can claim stuff back). I have 3 more payments to make to the dentist totaling €200 and I can get a further €75 back on those too once I have invoices showing payment. I also have DD's accident claim form in with the school to be signed so I can claim €145 back on that, hopefully she remembers to actually pick the form up for me today, its in the school office since last week, she is so forgetful! So once those claims go through I will have €295 back from the €545 I paid out so not too bad at all. I am aiming to put all this off the credit card when it comes through. I'll be back on track then.

    Also on car insurance I continued shopping around and I managed to get a better deal off another insurance company and knocked €329 off the price my current insurance company was looking for. I paid for that on Friday so kinda broke now but its worth it to get the bill out of the way for the year. I usually pay it monthly throughout the year so feel like a grown up paying in full Its one less direct debit coming out of my bank account, I'm hoping to do the same with car insurance, bin charges and tv license later this year, the less monthly bills the better! I'm aiming for as many NSD's as possible this week, fingers crossed.

    I also managed to do my parents a favour, I discovered they should be deferring their property tax rather than paying it so they are entitled to a refund in excess of €750 as they are both on pensions and shouldnt have been paying. I filled in forms and sent off in the post for them. My mam is delighted but she is not telling my dad, so devious LOL

    I had a lovely weekend, I got all my clothes dry on Saturday on the clothes line outside, there is something very therapeutic about hanging clothes out to dry. I even put up an extra clothes line to increase my line space using hooks in the concrete fence panel posts and a length of washing line, I was very proud of myself altogether. We also had an impromptu BBQ yesterday followed by apply tart for dessert and it was fab. The weekend just flew by!

    Better get back to work, so much to do! Have a great week DFW's
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • Disco Dolly
    • By Disco Dolly 9th May 17, 12:53 PM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    Hi DFW's,

    DD remembered to pick up the form from school office so I sent that off in the post yesterday evening, I think a claim takes about 2 weeks to be settled and for a cheque to be posted. On the other hand my medical insurance have already processed the claim I put in for doc visit and 2 dental visits so money should be winging its way to my account by tomorrow. Good result! I am brutal at making claims so feeling proud of myself for being on top of all this. My employer pays my medical insurance and I never claim anything back, I'm a disaster. I think this time everything hit me at once so it gave me the kick I needed to claim. April showers are almost reversed at this point! I'm not sure if I will get my debt total down much this month though as between everything that went wrong and car insurance I am still in the hole. But things should improve from June onwards. I think my DFD has moved out to Sept/Oct though at this stage but I'll keep plugging away.

    Happy Tuesday to you all
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
    • Disco Dolly
    • By Disco Dolly 22nd May 17, 1:02 PM
    • 178 Posts
    • 191 Thanks
    Disco Dolly
    Hi DFW's,

    Oops getting so bad at updating this diary! Update I got the cheque back from DD's school insurance and lodged it on Friday, hopefully it will clear later this week. I also got the medical insurance claim back and lodged to my account. So I have paid a bit back to the credit card and my new debt total is €3450. I cant afford to pay much more this month as I am still scrimping after paying the full years car insurance. April was a disaster month for me and May isnt much better due to car insurance. But from June onwards all should be OK and I'll be back on track and hopefully paying about €700 a month off the credit card. Its great only having one debt to concentrate on. I'm going to throw everything at it until its gone, no matter how small a payment.

    I'm happier now that I am back on track, onwards & downwards!
    LBM Jan 2014: €21,746.34
    Total May 2017: €2,850.00
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