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
    • Reb2016
    • By Reb2016 6th Jun 17, 10:30 AM
    • 154Posts
    • 365Thanks
    Reb2016
    Don't want to spend my life in debt
    • #1
    • 6th Jun 17, 10:30 AM
    Don't want to spend my life in debt 6th Jun 17 at 10:30 AM
    I've finally had my lightbulb moment, I found myself last week applying for a consolidation loan, thankfully I was turned down, and this got me to take a proper look at my finances. I worked out that I could pay back all my debt by Aug 2020, possibly even earlier depending on work bonuses. The loan I was looking at was 10 years, I would have paid back so much more interest and risked my house as it was a secured loan. I am now really glad that I was turned down.


    So now its time to really get this all sorted, I don't want to spend my life constantly in debt, so I am starting this diary to keep myself focused.


    So far, I have checked my SOA and noticed my Broadband contract was about to come to an end and go up by £10 a month so I have contacted the provide and now have another 12months on the same rate.


    My mobile contract is a high cost by comes to an end in Feb next year so I will change that to a pay as you go contract, as I really don't use my phone much at all.


    I have started having a clear out, and have sent some books, DVDs and CD's to a buy your books place which will give me £52, this will be used to make the final payment for some dental treatment I have coming up, instead of me doing my usual and putting it on a credit card.


    I have also listed some items on ebay so fingers crossed there. I shall continue the clear out and see if I can come across anything else.


    Reb
Page 2
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 31st Aug 17, 9:22 PM
    • 1,924 Posts
    • 8,332 Thanks
    HairyHandofDartmoor
    You are doing so well and are very sensible to close the accounts you are paying off so you're not tempted to spend on them again. Keep up the good work.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 October 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund
    Emergency Fund 1 = £678/Emergency Fund 2 = £140
    • enthusiasticsaver
    • By enthusiasticsaver 31st Aug 17, 9:55 PM
    • 4,680 Posts
    • 8,867 Thanks
    enthusiasticsaver
    Brilliant work so far. You seem very focused.
    4 weeks to go until early retirement in December . Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Reb2016
    • By Reb2016 1st Sep 17, 1:37 PM
    • 154 Posts
    • 365 Thanks
    Reb2016
    So I've just spoken with my bank to see if I can reduce my overdraft gradually as I pay it of, and I can, and also I can reduce it online which makes it really easy. Reducing it as I go along will stop me from using it again so definitely the way to go.

    I will add my overdraft to my signature so I can watch it go down. At the moment it is at £1990 down from £2250, I'm going to aim to get it to at least £1950 by the end of Sept, as I have a few things on ebay so that should be doable.

    I've found a few more items to Ebay, it's amazing how much stuff you don't need, Narola1976 I know where you are coming from with Ebay being a lot of work, especially as I've just had to relist an item for the third time due to a non payer, I just keep reminding myself of the money.

    I've also signed up to NSD September, and will be going for 15NSD days, I'll add that to my signature also. Today won't be a NSD as I need to pick up my Dogs flea treatment, but tomorrow and Sunday should be NSD'S

    Thanks for all the comments, they are much appreciated it really does help.

    Reb
    Light bulb moment 6th June 2017 £13333.63 Debt now 11837.25
    DFD was October 2020 40 months now 21st Dec 2019 26 months Overdraft £720/£2250
    • zippygeorgeandben
    • By zippygeorgeandben 2nd Sep 17, 2:24 PM
    • 709 Posts
    • 888 Thanks
    zippygeorgeandben
    Hey Reb - I've found your diary!
    All I can say is WOW! Doing really well! Some of those APRs were AWFUL!
    I could try and do a NSD with you couldn't I! See who can do 15 days in a month, or even more
    I'll subscribe now and keep popping along so you know you aren't a stranger.
    Thanks for your lovely comments on my own posts
    End Sep 2016 End Oct 2017
    £8236.57 £0
    (Tesco 4.8%) £0pcm
    £6185.75 £0(Zopa 4.0%) £0pcm

    £5344.50
    £2610.04 (Sainsburys 0% until 06/19) £140pcm
    £2000.00 £1066.69 (Sister 0%) £133.33pcm

    Total debt
    £19.766.82 £3676.73 Original DFD May 2019.
    • Reb2016
    • By Reb2016 2nd Sep 17, 9:01 PM
    • 154 Posts
    • 365 Thanks
    Reb2016
    Lovely to see you here Zippygeorgeandben (love the name by the way) it really does help to have people along on the journey. And yes do join the NSD challenge the link is here http://forums.moneysavingexpert.com/showthread.php?t=5701386
    Seems I signed up for 17 not 15 oops just as well I had one today, I'll need to lots of planning to make that, and I've also committed to doing 4 in a row, so let's see how it goes.

    Today I've made my lunches for work for the week ahead, helps to keep me away from the supermarket and the dreaded vending machine.

    Ebay is going well, I'm up to £62, few items without bids but with watchers so fingers crossed, all but 1 ends tomorrow so I'll report back.

    Reb
    Light bulb moment 6th June 2017 £13333.63 Debt now 11837.25
    DFD was October 2020 40 months now 21st Dec 2019 26 months Overdraft £720/£2250
    • Reb2016
    • By Reb2016 3rd Sep 17, 8:06 PM
    • 154 Posts
    • 365 Thanks
    Reb2016
    So my auctions have all ended, and after fees I've made £90 which I am really pleased with, as soon as everyone pays I'll adjust my OD and my signature, so looking forward to doing that.

    Quiet day today, so not much else to report, sorted out a few more things to ebay, but have a busy work schedule the next couple of weeks, so won't be able to get those on until nearer the end of Sept.

    Going to spend some time this week looking out some recipes to batch cook at the weekend, stops me being tempted by expensive and unhealthy ready meals.

    Hop everyone has had a good Sunday
    Reb
    Light bulb moment 6th June 2017 £13333.63 Debt now 11837.25
    DFD was October 2020 40 months now 21st Dec 2019 26 months Overdraft £720/£2250
    • Reb2016
    • By Reb2016 4th Sep 17, 2:24 PM
    • 154 Posts
    • 365 Thanks
    Reb2016
    All my Ebayers have paid, so off to update my signature now, Overdraft is down to £1900.00 so that's £350 paid of this month so far.


    Will be listing a few more things next week so should be able to get that down some more.


    Reb
    Light bulb moment 6th June 2017 £13333.63 Debt now 11837.25
    DFD was October 2020 40 months now 21st Dec 2019 26 months Overdraft £720/£2250
    • Kittychick
    • By Kittychick 5th Sep 17, 10:01 AM
    • 221 Posts
    • 541 Thanks
    Kittychick
    That's a really good chunk paid off, well done, I'll be subscribing and cheering you along the way!!
    • Reb2016
    • By Reb2016 5th Sep 17, 9:39 PM
    • 154 Posts
    • 365 Thanks
    Reb2016
    Lovely to have you along Kittychick not much to report today, seem to be coming down with a cold, so feeling sorry for myself I'm a bit pathetic when I have colds so curled up with a honey and lemon drink at the moment. Hopefully I can get rid of it quickly as we are very busy at work at the he moment, so no time to be ill.

    Reb
    Light bulb moment 6th June 2017 £13333.63 Debt now 11837.25
    DFD was October 2020 40 months now 21st Dec 2019 26 months Overdraft £720/£2250
    • Narola1976
    • By Narola1976 6th Sep 17, 8:09 AM
    • 93 Posts
    • 277 Thanks
    Narola1976
    Morning Reb, fantastic result on your ebay sales! You are really making good progress and are so focused. Hope you are feeling a bit better? I also felt very sniffly this morning and just really tired, have not been sleeping well, too many things on my mind I think. But coming on here cheers me up a bit as I read how well other people are doing I know that I can do it too. Have a good day x
    HSBC CC £7150.15 - £6524.68 ~~~ Barclay Card £7894.74 £7846.32 ~~~ MBNA 1 £10382.67 - £10272.67 ~~~ MBNA 2 £7214.28 - £7062.94 ~~~Argos £202.05 - £100.05 ~~~ HSBC Loan £399.27 - £0 ~~~ Hitachi Loan £24.12 - £0 ~~~ Car Loan £14745.60 - £14008.32
    TOTAL £48012.88 - £45814.98 (Paid £2197.90 so far)
    • Kittychick
    • By Kittychick 6th Sep 17, 11:06 AM
    • 221 Posts
    • 541 Thanks
    Kittychick
    I'm with you on the pathetic thing, I was convinced I was starting with cold/flu thing last week and we made an emergency stop for meds..... Still waiting for it to develop beyond me feeling abit 'meh'!! In my defence I think I'm a bit run down so maybe it's a wake up call to start taking better care of myself for the impending winter! Hope you start to feel better soon... X
    • Reb2016
    • By Reb2016 6th Sep 17, 5:10 PM
    • 154 Posts
    • 365 Thanks
    Reb2016
    Still suffering a bit, but was able to leave work early so that's helped, also I have Friday as holiday, so just got to get through tomorrow.
    Kittychick, and Narola1976 I think it's that time of year for feeling run down, hope neither of you get colds.
    Small disappointment today one of my eBay items was broken in transit, it's not covered by the courier, which I know before posting and decided to take the risk, bit of a shame and looking at the photos I think they must have played football with the parcel. Fingers crossed all the others arrive safely.

    On the plus side I was waiting for a refund to come through and just realised than on my monthly spread sheet had accidentally put this as going out of my account rather than in and that is just a little more than the refund I've just had to do so they cancel each other out

    Don't know about anyone else but I find this bit of the month the most hard, done most of the payments that I can and now it's a waiting game till the next payday, I think that's where this diaries really help to keep me focused.

    Reb
    Last edited by Reb2016; 06-09-2017 at 5:29 PM.
    Light bulb moment 6th June 2017 £13333.63 Debt now 11837.25
    DFD was October 2020 40 months now 21st Dec 2019 26 months Overdraft £720/£2250
    • Narola1976
    • By Narola1976 6th Sep 17, 9:17 PM
    • 93 Posts
    • 277 Thanks
    Narola1976
    Don't know about anyone else but I find this bit of the month the most hard, done most of the payments that I can and now it's a waiting game till the next payday, I think that's where this diaries really help to keep me focused.

    Reb
    Originally posted by Reb2016
    I feel exactly the same Reb, now that debts have been paid, there is nothing to do but wait! Like watching paint dry. The diaries really do help, reading others and posting on my own. I have learned so much. Right time for bed, feeling so tired, but then when I hit the pillow, I am wide awake.But I have an audio book so am going to listen to that in the meantime. Night night.
    HSBC CC £7150.15 - £6524.68 ~~~ Barclay Card £7894.74 £7846.32 ~~~ MBNA 1 £10382.67 - £10272.67 ~~~ MBNA 2 £7214.28 - £7062.94 ~~~Argos £202.05 - £100.05 ~~~ HSBC Loan £399.27 - £0 ~~~ Hitachi Loan £24.12 - £0 ~~~ Car Loan £14745.60 - £14008.32
    TOTAL £48012.88 - £45814.98 (Paid £2197.90 so far)
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 7th Sep 17, 9:11 PM
    • 1,924 Posts
    • 8,332 Thanks
    HairyHandofDartmoor
    The waiting is the worst. It can really get you down and then it's tempting to spend to cheer yourself, up even though it's very counterproductive. That's where a lot of my debt came from I reckon, but you're right coming on here does help. Hope your cold gets better soon.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 October 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund
    Emergency Fund 1 = £678/Emergency Fund 2 = £140
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 7th Sep 17, 9:13 PM
    • 1,924 Posts
    • 8,332 Thanks
    HairyHandofDartmoor
    I feel exactly the same Reb, now that debts have been paid, there is nothing to do but wait! Like watching paint dry. The diaries really do help, reading others and posting on my own. I have learned so much. Right time for bed, feeling so tired, but then when I hit the pillow, I am wide awake.But I have an audio book so am going to listen to that in the meantime. Night night.
    Originally posted by Narola1976
    I'm the same Narola! Tired out but as soon as I hit the pillow my mind goes into overdrive
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 October 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund
    Emergency Fund 1 = £678/Emergency Fund 2 = £140
    • zippygeorgeandben
    • By zippygeorgeandben 7th Sep 17, 9:51 PM
    • 709 Posts
    • 888 Thanks
    zippygeorgeandben
    Hi Reb - shame about the broken package, sometimes happens.
    Keep at it. Doing well, but I always want the end of month to come a lot quicker! Get that debt going down!
    End Sep 2016 End Oct 2017
    £8236.57 £0
    (Tesco 4.8%) £0pcm
    £6185.75 £0(Zopa 4.0%) £0pcm

    £5344.50
    £2610.04 (Sainsburys 0% until 06/19) £140pcm
    £2000.00 £1066.69 (Sister 0%) £133.33pcm

    Total debt
    £19.766.82 £3676.73 Original DFD May 2019.
    • Reb2016
    • By Reb2016 8th Sep 17, 12:10 AM
    • 154 Posts
    • 365 Thanks
    Reb2016
    Glad I'm not the only one that finds this bit of the month hard. Coming on here and reading the lovely comments and other peoples inspiring diaries really does help.

    Hairy hand your right about it being tempting to spend to cheer myself up, just have to keep,the focus going.

    Narola1976 hope you got to sleep in the end

    Zippygeorgeandben thanks for your very motivating words.

    Reached a £5 Amazon voucher on a survey site today, and had a lot of parcels arrive at work today, ( all work items paid for by work ) but because I sorted the delivery I was able to keep hold of the packaging which will be useful for my next lot of ebaying. It all helps.

    And the cold is easing up, going to have a quiet weekend so that should get rid of the last of it.

    Reb
    Last edited by Reb2016; 08-09-2017 at 12:17 AM.
    Light bulb moment 6th June 2017 £13333.63 Debt now 11837.25
    DFD was October 2020 40 months now 21st Dec 2019 26 months Overdraft £720/£2250
    • MrJester
    • By MrJester 8th Sep 17, 2:06 AM
    • 994 Posts
    • 502 Thanks
    MrJester
    Hey Reb

    You're doing awesome, definitely keep on reducing the limit on your overdraft. Same with credit cards.

    It only takes one slip up on one day to undo all your hard work, believe me! Don't give yourself even the room to start making excuses

    Will stick along for the journey!
    My new 2017 Batman-like debt free diary (£26k+)!
    • Reb2016
    • By Reb2016 8th Sep 17, 10:15 PM
    • 154 Posts
    • 365 Thanks
    Reb2016
    Thanks for your lovely words MrJester, all the support really helps.

    So had an interesting conversation with my Sister today, and we have decided to stop Christmas and Birthday presents, and save the money for nice lunches out instead, (her idea) which I think is a much better idea, it's often difficult to know what to get, and much nicer to use the money on time spent together, I think I will now also broach the subject with my brother too.

    Tomorrow I shall be some more things on eBay, be interesting to see how they go.

    Happy weekend everyone
    Reb
    Light bulb moment 6th June 2017 £13333.63 Debt now 11837.25
    DFD was October 2020 40 months now 21st Dec 2019 26 months Overdraft £720/£2250
    • MrJester
    • By MrJester 8th Sep 17, 10:43 PM
    • 994 Posts
    • 502 Thanks
    MrJester
    Thanks for your lovely words MrJester, all the support really helps.

    So had an interesting conversation with my Sister today, and we have decided to stop Christmas and Birthday presents, and save the money for nice lunches out instead, (her idea) which I think is a much better idea, it's often difficult to know what to get, and much nicer to use the money on time spent together, I think I will now also broach the subject with my brother too.

    Tomorrow I shall be some more things on eBay, be interesting to see how they go.

    Happy weekend everyone
    Reb
    Originally posted by Reb2016
    Not a bad idea, if it means you are spending your money on meaningful experiences. Too often we waste our hard earned time (money) on things. When really its experiences that make us happier.
    My new 2017 Batman-like debt free diary (£26k+)!
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

28Posts Today

4,250Users online

Martin's Twitter