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  • FIRST POST
    • Angela84
    • By Angela84 19th Jun 17, 4:40 AM
    • 372Posts
    • 898Thanks
    Angela84
    Finally found the strength to get debt free 💪
    • #1
    • 19th Jun 17, 4:40 AM
    Finally found the strength to get debt free 💪 19th Jun 17 at 4:40 AM
    I've come on here a little into my debt free journey but I still have a way to go so I want to stay accountable for motivation.

    I started this year with £9850 debt. I was shocked when I added it all up in January, and after years of vows to do something about it, I finally decided it was time.

    RBS overdraft £1250
    NatWest overdraft £1600
    NatWest cc £250
    Barclaycard cc £2000
    Lloyds cc £4750

    My weekly budget after I've paid my rent and bills is £281. From this I budget £90 a week for food and fuel.

    February I started paying £100 a week to NatWest CC. It felt good when it was £0 and I knew i would never use it again.
    Next in march I started working on the rbs overdraft. I've had this overdraft for 11yrs since I was a student. All those £30 monthly fees, the thought of it makes me so glad I became finally free in May!
    The next one was NatWest. I knew I'd find this harder as it's the account I use on a daily basis. In the end I decided to open an interest free credit card to transfer the balance.
    So now NatWest is £0, and I had £1600 on a virgin card.

    I am now on week 4 of paying it back. I decided on the figure of £123 a week as
    1. This means it would be cleared by the end of August
    2. This gives me £70 a week to live on, or £10 a day.

    Not sure if that sounds high, but I have children and unexpected things seem to crop up almost every day. I would like to be able to budget better and build up a contingency fund but I got so motivated seeing these debts finally start coming down that I haven't.

    After virgin is gone in August, the next plan from September - December is barclaycard. My plan is to start 2018 with only 1 credit card debt. My debt free date would be September 2018.

    I have also started matched betting a week ago, I spend about an hour each night trying to understand it and it's slowly coming to me. That money will go straight to these debts and hopefully bring my debt free date forward!
    LBM January 2017 £9850 debts /// Sept 2017 £3585 paid £6265 to go (35%) DFD June 18

    Natwest C/C £250 Rbs O/D £1250 NatWest O/D £1600 Barclaycard C/C £1810 Lloyds C/C £4750 £4455

    Been in debt for 15yrs, trying to become debt free in 15 months
Page 1
    • MSE Andrea
    • By MSE Andrea 19th Jun 17, 10:54 AM
    • 8,464 Posts
    • 20,704 Thanks
    MSE Andrea
    • #2
    • 19th Jun 17, 10:54 AM
    • #2
    • 19th Jun 17, 10:54 AM
    Hi!

    Well done for getting motivated Angela84

    Have you done a Money Makeover?

    Which other forum boards have you looked at? Our Old Stylers have some fab tips for meal planning, recipes, cutting your food bills down, cleaning tips etc.

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    • tootallulah
    • By tootallulah 19th Jun 17, 11:22 AM
    • 1,998 Posts
    • 6,903 Thanks
    tootallulah
    • #3
    • 19th Jun 17, 11:22 AM
    • #3
    • 19th Jun 17, 11:22 AM
    Hi Angela, brilliant start and well done for getting sorted out, you look to be organised and prepared - keep posting it helps, especially when there are bumps on the way.
    Mortgage House £173,000 July17th 2016.
    • doingitanyway
    • By doingitanyway 19th Jun 17, 11:31 AM
    • 1,880 Posts
    • 8,535 Thanks
    doingitanyway
    • #4
    • 19th Jun 17, 11:31 AM
    • #4
    • 19th Jun 17, 11:31 AM
    All sounding good. Well done
    JANUARY 2016/SECURED DEBT=24,822/September 2017=5,500
    MORTGAGE FREE 25/07/16
    • MeandThe2
    • By MeandThe2 19th Jun 17, 6:20 PM
    • 39 Posts
    • 145 Thanks
    MeandThe2
    • #5
    • 19th Jun 17, 6:20 PM
    • #5
    • 19th Jun 17, 6:20 PM
    Well done on the work you have done so far! Your plan sounds good and you're clearly determined. I would look at a small emergency savings fund though, I know you want to pay all the money you can off your debt but having a little bit of 'just in case' money will stop you creating more debt should you ever need it.

    I get what you mean about things popping up when you have children and £10 a day seems reasonable if you can afford it as well as paying off the debt.

    Keep up the good work
    • Angela84
    • By Angela84 20th Jun 17, 12:04 AM
    • 372 Posts
    • 898 Thanks
    Angela84
    • #6
    • 20th Jun 17, 12:04 AM
    • #6
    • 20th Jun 17, 12:04 AM
    Cheers guys!
    It's not been easy, in the beginning I found it just like when I've tried to diet when younger, I'd save and pay some debt off and be 'good' and then get cravings and 'treat' myself to something as I wanted to cheer myself up.
    Not anymore, I've become rather tight!
    Things that have helped in my journey so far:
    Converting to Aldi, meal planning, making the majority of our meals vegetarian as meat is pricey, and one every month or so setting a cupboard challenge (only buy essentials and use up everything else in the house)
    Vowing to not grab lunches out and about. I am still guilty for buying fizzy drinks though ��
    Found a great mobile hairdresser who does my highlights for £30!
    Move my all direct debits to 1st so I can't be surprised or forgetful and risk charges.
    Being a member of some lovely local Facebook groups and finding lovely things people are happy to give away, I haven't bought clothes or toys for any of my children for 6 months, until today when I managed to get my sons whole new school uniform for secondary school for £10 from the second hand shop. The same new would have been nearing £200 for it all.
    I also spent 3hrs at the shops and only bought what I went for, baby food.
    LBM January 2017 £9850 debts /// Sept 2017 £3585 paid £6265 to go (35%) DFD June 18

    Natwest C/C £250 Rbs O/D £1250 NatWest O/D £1600 Barclaycard C/C £1810 Lloyds C/C £4750 £4455

    Been in debt for 15yrs, trying to become debt free in 15 months
    • doingitanyway
    • By doingitanyway 20th Jun 17, 7:51 AM
    • 1,880 Posts
    • 8,535 Thanks
    doingitanyway
    • #7
    • 20th Jun 17, 7:51 AM
    • #7
    • 20th Jun 17, 7:51 AM
    You are making great progress in all areas but the school uniform was a major coup. Well done!
    JANUARY 2016/SECURED DEBT=24,822/September 2017=5,500
    MORTGAGE FREE 25/07/16
    • Angela84
    • By Angela84 21st Jun 17, 6:08 AM
    • 372 Posts
    • 898 Thanks
    Angela84
    • #8
    • 21st Jun 17, 6:08 AM
    • #8
    • 21st Jun 17, 6:08 AM
    I need to commit some more time to this matched betting thing. I invested £110, and am nearly back to that now, I'd have done it a lot quicker but I'm so tired on a night I can't face having to use my brain I think!
    I'm going to vow to try and place one bet per evening for a week and see what I will happen.

    I run the school pta and it takes up a lot of my time, which is fine as I love it, but I need to find a way from September of streamlining that I think.

    Also from September I'll have a new bill of around £80 for school lunches so I want to keep the matched betting income up for that as well as hopefully repaying my debts quicker.

    Also unbelievable how quickly credit card companies start upping your limits when they can see you're paying stuff off quickly all of a sudden.
    LBM January 2017 £9850 debts /// Sept 2017 £3585 paid £6265 to go (35%) DFD June 18

    Natwest C/C £250 Rbs O/D £1250 NatWest O/D £1600 Barclaycard C/C £1810 Lloyds C/C £4750 £4455

    Been in debt for 15yrs, trying to become debt free in 15 months
    • Angela84
    • By Angela84 23rd Jun 17, 6:48 AM
    • 372 Posts
    • 898 Thanks
    Angela84
    • #9
    • 23rd Jun 17, 6:48 AM
    • #9
    • 23rd Jun 17, 6:48 AM
    Almost rent day, i remember when I'd have to be borrowing to cover it all and then spending the rest of the month to pay it back, now it's always ready in my spare account.
    I love my house, been here a year this month, always a worry with renting that they'll ask you to leave but I'm trying to stay positive and think I can live here for a long time, it's an ideal place for the children.
    LBM January 2017 £9850 debts /// Sept 2017 £3585 paid £6265 to go (35%) DFD June 18

    Natwest C/C £250 Rbs O/D £1250 NatWest O/D £1600 Barclaycard C/C £1810 Lloyds C/C £4750 £4455

    Been in debt for 15yrs, trying to become debt free in 15 months
    • JoJoC
    • By JoJoC 23rd Jun 17, 9:21 AM
    • 1,193 Posts
    • 3,709 Thanks
    JoJoC
    What a bargain for the school uniform! My eldest is starting school in 6 weeks and I must've spent around £200 on uniform...and I haven't even bought footwear yet! £10 is beyond a bargain

    I've heard of this matched betting through a friend who invested £200 and took away £5k after a year... but it all sounds too good to be true!
    CC1: 3,774.32/4,200 | CC2: 5,077/5,393 | Loan: 7,430/15,000
    Total: 16,292.57/20,032 Paid since Feb17: 3,739 or 18.66%

    Mummy of two boys - Working hard to make better financial choices!
    *My debt busting and savings diary*
    • Angela84
    • By Angela84 27th Jun 17, 10:27 PM
    • 372 Posts
    • 898 Thanks
    Angela84
    Well this week has not gone as successfully as previous week. I got a spending craving last Friday so my debt repayment money didn't happen and instead went on finishing my garden off. I can try and justify it and make myself feel better a bit as it wasn't exactly just blown on rubbish, and it was the last thing on my list for my home to complete, but still. That's a week behind I'll be now. In fact have so badly miscalculated I'll be £9 short for my rent! Will have to borrow until Friday. Not impressed with myself on that one.
    Have also done zero with the matched betting project.

    Have been rather off the ball the last few days ��

    I did get a traveling urge hit me yesterday and decided to forget about the debts and take the children exploring for the summer, but I think it's hit me how much that'll cost and how much further behind I'll be in my debt repayments so I think that one can be forgotten about until at least next year.
    I want to be debt free so I can save up and fund travelling projects myself.
    LBM January 2017 £9850 debts /// Sept 2017 £3585 paid £6265 to go (35%) DFD June 18

    Natwest C/C £250 Rbs O/D £1250 NatWest O/D £1600 Barclaycard C/C £1810 Lloyds C/C £4750 £4455

    Been in debt for 15yrs, trying to become debt free in 15 months
    • ljj1986
    • By ljj1986 28th Jun 17, 12:34 PM
    • 41 Posts
    • 54 Thanks
    ljj1986
    I think we all go through spendy phases, I certainly do, as long as you get back on track and don't do too much damage then it isn't so bad, don't feel too bad about it but learn from it as I'm sure you will.

    I know what you mean about the travelling urge, I really really want to book a little holiday abroad for me and my boy and I do have a small amount in my holiday pot but its so expensive in the school holidays.
    LBM 15/03/17=£7586.01 DFD April 2019.Debt Today: £6499.34 (DFD Apr 19)
    Target £0 Debt by Dec 2018 Highest debt: £12,242.84 (May16)
    • Angela84
    • By Angela84 28th Jun 17, 10:54 PM
    • 372 Posts
    • 898 Thanks
    Angela84
    It's sooo expensive I agree! I was toying with the idea of buying a caravan as we had one last year and it was great fun, and that's your holidays sorted for the next however long it lasts.
    But then I sobered up out of my travelling craving haze and remembered why I'm doing all this is to be debt free and I've got to stay strong!
    LBM January 2017 £9850 debts /// Sept 2017 £3585 paid £6265 to go (35%) DFD June 18

    Natwest C/C £250 Rbs O/D £1250 NatWest O/D £1600 Barclaycard C/C £1810 Lloyds C/C £4750 £4455

    Been in debt for 15yrs, trying to become debt free in 15 months
    • Angela84
    • By Angela84 28th Jun 17, 11:04 PM
    • 372 Posts
    • 898 Thanks
    Angela84
    I'm also really pleased that this is the second week in a row I've managed to do my full weeks food shop for £27! That's fed me and 5 children and a couple of evenings with family over. I know it'll be higher this week as I need more now I've been using up stock I'd built up, but still it won't be much higher.
    I think the key is keeping meals really simple, and cutting right down on meat.
    Minimalism has definitely helped my journey too, the thought of shopping doesn't interest me anymore now I know I already own everything I need, and I love the feeling of having very little. I feedshop Fridays and I love to see my empty fridge and cupboards on a Thursday! My nan is always horrified and thinks I'm not coping, bless her, she doesn't understand it's my choice to run my kitchen down each week, no store stuff 'just in case'
    LBM January 2017 £9850 debts /// Sept 2017 £3585 paid £6265 to go (35%) DFD June 18

    Natwest C/C £250 Rbs O/D £1250 NatWest O/D £1600 Barclaycard C/C £1810 Lloyds C/C £4750 £4455

    Been in debt for 15yrs, trying to become debt free in 15 months
    • Angela84
    • By Angela84 29th Jun 17, 11:03 PM
    • 372 Posts
    • 898 Thanks
    Angela84
    Have decided that our summer holiday project will be a free one: visiting as many parks as we can in 6 weeks. We're so lucky where we live we have access to so many amazing free outside spaces, the children and I are making a big list with all our ideas.
    Will pack a simple picnic and always take drinks, so I should be able to get away with lots of nsd's this summer!
    LBM January 2017 £9850 debts /// Sept 2017 £3585 paid £6265 to go (35%) DFD June 18

    Natwest C/C £250 Rbs O/D £1250 NatWest O/D £1600 Barclaycard C/C £1810 Lloyds C/C £4750 £4455

    Been in debt for 15yrs, trying to become debt free in 15 months
    • Angela84
    • By Angela84 4th Jul 17, 10:32 PM
    • 372 Posts
    • 898 Thanks
    Angela84
    It's so hard to stay on the straight and narrow sometimes! I have my plan written out but perhaps I've been too ambitious. I'll just keep going and paying as much as I can each week.
    LBM January 2017 £9850 debts /// Sept 2017 £3585 paid £6265 to go (35%) DFD June 18

    Natwest C/C £250 Rbs O/D £1250 NatWest O/D £1600 Barclaycard C/C £1810 Lloyds C/C £4750 £4455

    Been in debt for 15yrs, trying to become debt free in 15 months
    • Angela84
    • By Angela84 7th Jul 17, 10:42 PM
    • 372 Posts
    • 898 Thanks
    Angela84
    Well once again have done the foodshop for £27 for the week! May need a mini too of of £5 or so but I'm confident I can feed our family for a week on that. Funny how I always ends up £27!
    The pta fayre has finished and I can relax for a while now with no more events or anything until September. I can hopefully commit sometime to getting back to work king out again as that was all put on hold since April.

    I need to get back on track for clearing virgin by August.
    Feels crazy to think I could be down to 2 debts by then end of next month is I put my mind to it. For years ive been used to barely even remembering all the different debts I had across different credit cards, loans and overdrafts. Now it's only 3, soon to be 2!
    LBM January 2017 £9850 debts /// Sept 2017 £3585 paid £6265 to go (35%) DFD June 18

    Natwest C/C £250 Rbs O/D £1250 NatWest O/D £1600 Barclaycard C/C £1810 Lloyds C/C £4750 £4455

    Been in debt for 15yrs, trying to become debt free in 15 months
    • enthusiasticsaver
    • By enthusiasticsaver 7th Jul 17, 11:56 PM
    • 4,265 Posts
    • 7,717 Thanks
    enthusiasticsaver
    Well done on remaining so focused. £27 for you and 5 children is incredible. We spend double that for just 2 of us.

    Having all that spare disposable income once the debt is gone will be so rewarding.
    Countdown to early retirement on 21.12.17 3 months to go.
    • Angela84
    • By Angela84 15th Jul 17, 6:37 AM
    • 372 Posts
    • 898 Thanks
    Angela84
    Made a big £300 payment towards the virgin card so that's now at £938. Haven't been sticking to the plan with this one, but If I try really hard it will be clear by the end of August. I've got a summer bonus coming that'll go straight on that, plus the weekly £123 until 25th August.

    Looking forward to the summer holidays now I have a great plan, have made a local parks list, made a Facebook Group with lots of school friends and simply said mon-weds-fri we'll be at a park by 12, with a blanket and a picnic. I've told the children we can bake cakes before we go so that's their treat instead of expensive ice cream vans.

    Gotta take all 5 to do the food shop today so that always helps keep the cost down as I can't hang about!
    LBM January 2017 £9850 debts /// Sept 2017 £3585 paid £6265 to go (35%) DFD June 18

    Natwest C/C £250 Rbs O/D £1250 NatWest O/D £1600 Barclaycard C/C £1810 Lloyds C/C £4750 £4455

    Been in debt for 15yrs, trying to become debt free in 15 months
    • Angela84
    • By Angela84 18th Jul 17, 6:47 AM
    • 372 Posts
    • 898 Thanks
    Angela84
    Can't believe next week I'll be over the £2500 mark for debt repayment. By the end of the year I will have paid back over £5000!
    Makes me think that once I'm finally debt free next year just how much I can start putting into savings each week/month. So exciting.
    I'm so pleased I finally got on this journey, it feels so great to know I'll be debt free by 33, never to be in debt again.
    LBM January 2017 £9850 debts /// Sept 2017 £3585 paid £6265 to go (35%) DFD June 18

    Natwest C/C £250 Rbs O/D £1250 NatWest O/D £1600 Barclaycard C/C £1810 Lloyds C/C £4750 £4455

    Been in debt for 15yrs, trying to become debt free in 15 months
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