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  • FIRST POST
    • Bigskies
    • By Bigskies 4th May 17, 8:12 AM
    • 54Posts
    • 228Thanks
    Bigskies
    Head out of sand time! £63k to zero!
    • #1
    • 4th May 17, 8:12 AM
    Head out of sand time! £63k to zero! 4th May 17 at 8:12 AM
    Hi,
    Have dithered for a while about this diary. I've lurked on and off this page for years, but never really done anything about our debt. It's been creeping up for the last ten years and I've now come to terms with, and got help for my depression that had, I think, led to most of it.
    Initially, my hubby lost his job, which started us on the path, but I wasn't working, and bored and depressed at home with three young children led to me spending, and spending, and spending.

    Once I went back to work, I still wanted nice things and to be honest over the last ten years we have had amazing holidays, three or so a year. We've travelled most of Europe, and Australia and Asia, but all on credit.

    So anyway, now we are sitting on a debt of £63.5k

    Our eldest two go to uni in two years, and currently we don't have enough spare cash each month to pay their accommodation costs, so need this under control.

    We are both working and together have a combined salary of just about £80k. We currently pay £1900/month in debt payments and the snowball calculators reckons 3 years to clear. We've cancelled all our further booked holidays and will be going camping in the summer in Dorset instead of the previously booked (and now cancelled) Tuscan villa.

    This diary will hopefully keep me on track. So, hello!
    April 2017 £63,500 May 2017 62235.52
    Priority #1 Next Account £2300 £2267
    Percentage of total debt paid 1.99% paid
    NSD May 3/6 Make £10/day May £697/310 £2 Savers Club #38 (for Xmas 2017)
    PAYDBX 2017 £0
Page 4
    • Cherryfudge
    • By Cherryfudge 9th Jun 17, 11:05 PM
    • 501 Posts
    • 1,460 Thanks
    Cherryfudge
    Ah - wundaweb! That boon of parents! Great stuff
    30 days in June...
    NSDs 9/12, Exercise 8/12, Housekeeping £108.57/£120
    • Bigskies
    • By Bigskies 8th Jul 17, 9:46 AM
    • 54 Posts
    • 228 Thanks
    Bigskies
    I'm still here! Things are absolutely shocking at the moment, money is really tight as I've started a new job, but paydays aren't working out (I started too late to hit full payroll and haven't got my p45 from old job) and the forthcoming emergency tax is going to be a nightmare! Have had to use the credit card a bit to juggle stuff around, and my commute has trebled with associated fuel costs. I'm hoping that within the next month or two it will settle and actually my salary has gone up a fair bit so we will end up in a much better position, but this is so painful!
    April 2017 £63,500 May 2017 62235.52
    Priority #1 Next Account £2300 £2267
    Percentage of total debt paid 1.99% paid
    NSD May 3/6 Make £10/day May £697/310 £2 Savers Club #38 (for Xmas 2017)
    PAYDBX 2017 £0
    • Bigskies
    • By Bigskies 14th Jul 17, 8:37 AM
    • 54 Posts
    • 228 Thanks
    Bigskies
    Still hanging on in there. Really got little to update at the moment, just going from day to day and trying not to panic about cash flow this month! I'm also getting to grips with this new job, in a new organisation, and new area, so lot to learn! On the upside each payment we make is a payment less to make, eh?
    April 2017 £63,500 May 2017 62235.52
    Priority #1 Next Account £2300 £2267
    Percentage of total debt paid 1.99% paid
    NSD May 3/6 Make £10/day May £697/310 £2 Savers Club #38 (for Xmas 2017)
    PAYDBX 2017 £0
    • Treadingonplaymobil
    • By Treadingonplaymobil 15th Jul 17, 9:24 AM
    • 778 Posts
    • 6,287 Thanks
    Treadingonplaymobil
    Well done. Keep on keeping on and you'll get there eventually. It's tough to keep motivation when you've got a big debt and it's going to take a long time, but as long as you keep going, it'll happen.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 6th June 17/DFD: £55,820.43/1st May 2025
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