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  • FIRST POST
    • Lacherlich
    • By Lacherlich 24th Aug 17, 4:42 PM
    • 112Posts
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    Lacherlich
    Debt free before 30?
    • #1
    • 24th Aug 17, 4:42 PM
    Debt free before 30? 24th Aug 17 at 4:42 PM
    Hi all.


    So I haven't actually been on here for a while - I did start a thread back in 2015 called 'A year to clear my debt' where at the time I had around £17k of debt which I worked out I could pay off within a year or so.... Well since I am back here now you can probably guess that didn't quite go to plan.


    After a break-up, selling of the house; and since moving into a new apartment - the situation is no better - if not worse! Total debt at the moment is at £24k. No idea how it has shot up so much - combination of holidays; purchasing the apartment and new furniture etc.


    I am 30 next year and I really wanted to be clear of debt before then. Looking at my budget now it seems unlikely Ill be able to achieve this. I can pay off about £20k in a year - leaving me £4k short.


    There must be a way for me to get this extra cash - although I haven't yet worked out how! I am allowing myself £400 a month spending money; so maybe if I am really disciplined I can use some of this towards the debt too. But I know what I'm like and even with all the will in the world Ill probably still spend it; but hey it worth a shot!


    Anyway - ill start checking back here frequently to motivate myself and to get some tips!!


    But first step was to start this thread So more to follow!


    Thanks
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
Page 4
    • EssexHebridean
    • By EssexHebridean 18th Sep 17, 1:09 PM
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    EssexHebridean
    Message one of the board guides to ask for the thread to be moved to the diaries section - I think they are listed at the bottom of the board but otherwise the one who springs to mind as being regularly active on here is Sourcrates.

    I think part of the problem you may be having at the moment is you're projecting too far ahead. Stick to focusing on a shorter timescale at the moment - until budgeting becomes habit (which it will - trust me on this). On the holidays thing, see it as a positive perhaps - "once I'm free of debt I will start savings for a holiday" rather than a negative - and after all the work you're putting in on getting clear of debt for goodness sake don;t be thinking at this stage about paying for a holiday from the following month's money - that's NOT budgeting, is it now!

    You said "two weekends to get through with very little cash available" - so what have you got planned that you need money for? Aside from the camping that you've already mentioned AND budgeted for that is? being on a budget definitely doesn't make time drag - you do however need to readjust your mindset to realise that your life doesn't need to be defined by throwing money at it.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£544.67 (17/10/17)
    • Lacherlich
    • By Lacherlich 18th Sep 17, 2:15 PM
    • 112 Posts
    • 146 Thanks
    Lacherlich
    Message one of the board guides to ask for the thread to be moved to the diaries section - I think they are listed at the bottom of the board but otherwise the one who springs to mind as being regularly active on here is Sourcrates.

    I think part of the problem you may be having at the moment is you're projecting too far ahead. Stick to focusing on a shorter timescale at the moment - until budgeting becomes habit (which it will - trust me on this). On the holidays thing, see it as a positive perhaps - "once I'm free of debt I will start savings for a holiday" rather than a negative - and after all the work you're putting in on getting clear of debt for goodness sake don;t be thinking at this stage about paying for a holiday from the following month's money - that's NOT budgeting, is it now!

    You said "two weekends to get through with very little cash available" - so what have you got planned that you need money for? Aside from the camping that you've already mentioned AND budgeted for that is? being on a budget definitely doesn't make time drag - you do however need to readjust your mindset to realise that your life doesn't need to be defined by throwing money at it.
    Originally posted by EssexHebridean

    Hey.


    Thank you ill send a message to move this over.


    You're right though, I need to change the way I see this debt-busting plan of mine; rather than seeing it as a major inconvenience that I want to rush to complete, I should see it as a change of lifestyle/ habits to continue with even after the debt is gone!


    Haha Im not intending to go into debt as soon as its all paid off And I don't want to slip back into old habits once it is all repaid - but if I focus my efforts over the next 12 months on clearing the debt; as a way of celebrating/rewarding myself for all that work - I could pay for a holiday with my 'spare' cash from one months pay. Without going back into debt. Then after that, continue the journey by continuing with my budget and then saving money for the future instead. Having that to look forward to may help keep me motivated over the next year? Or am I kidding myself?


    Well I had a little cash spare in my account to cover the weekends - but to be honest I went over that amount and had to borrow a little from a family member (£150). Not great I know - but I didn't splurge really - just a few little things added up and then was short to pay my credit card payment! However I've reviewed by budget to allow myself a bit more breathing room next month. Its going to take some getting used to managing a tight budget.


    But from next month ill have all my 'spend' cash in a separate account so again that should help my budget a bit better. This month I had an unexpected bill to make. Which going forward ill be able to manage with the new fund im setting up.
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
    • Lacherlich
    • By Lacherlich 19th Sep 17, 12:46 PM
    • 112 Posts
    • 146 Thanks
    Lacherlich
    I decided to clear my overdraft today using a 0% cash transfer deal with Barclaycard. Its cost £40 but in the long run will save me money as I wont have to pay interest on my £2500 overdraft.


    Its 0% until June - which is how long it will take for me to clear all my credit cards. As soon as it clears ill be removing the overdraft facility. At least then my current accounts will always be in the black rather than red as soon as I get paid!! Figured this will clearly define where I owe my debt instead of having it split across CCs and O/D. Plus having a current account with a positive balance will be a boost to my motivation!


    Less than a week to payday! Hoping to clear about £500 from my credit card then. Not as much as I'd like - but I have a few commitments already made for next month that I need to pay for. (One being spending money for my my last trip away this year/ final payment on a kitchen table I bought when I moved in and the cost of upgrading my phone). These were things I'd committed to before starting my debt-free plan. However; I've now decided that I will concentrate on my debt for the next year rather than trying to save for a holiday at the same time. This will allow me to clear an additional £2k by October next year. I discussed this with my partner as it means we wont be going away again for another year or so. But he is from in Spain so we can go visit there on the cheap instead!
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
    • Lacherlich
    • By Lacherlich 21st Sep 17, 12:08 PM
    • 112 Posts
    • 146 Thanks
    Lacherlich
    Hmmm - so I had a bit of a stress attack last night. Suddenly feeling quite overwhelmed by what I need to accomplish over the next year and a half. I had my council tax bill finally come through; which skewed my budget plan and forced me to review it. After that, realising due to the commitments I already have this month after payday I actually don't have any spare money to over pay on my debt this month. This further impacted my state of mind and I felt pretty helpless. I don't think the fact I haven't been able to sleep all week has helped either


    Anyway after talking it through with my partner, bless him who poured me a glass of wine I now feel a lot better. I was putting so much pressure on myself to clear this debt as fast as possible that I wasn't really giving myself much breathing space. So I've shuffled things around a bit - and effectively have about £100 less spare per month to use on my debt. But I feel a lot more comfortable with the plan now and that each month shouldn't be a struggle to reach next payday. Obviously if I still have any spare cash each month I can throw this at the debt. It just means it will take a few more months to clear everything - now looking more like May 2019!! Seems so long away.


    My partner made a good point that this doesn't take into account any xmas bonus I may get; and the fact Im likely to be promoted in the new year. Obviously I wont count on this yet - but its a possibility which would improve things anyway. Anyway! Onwards and upwards!
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
    • EssexHebridean
    • By EssexHebridean 21st Sep 17, 12:34 PM
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    EssexHebridean
    OK - the thing with the council tax - does that go to show why we say don't project too far ahead? have your DF date in mind - that's great - and maybe set yourself goal points along the way with small rewards - by by "small" I mean truly little things that will make you smile - a book you've been wanting, an item of clothing that only costs £15 - £20 tops but is wanted rather than needed - that sort of thing.

    Unexpected bills should now be mostly a thing of the past as you will have everything in your budget going forwards - so that will help. Obviously something unexpectedly going wrong may stil happen but that is where the emergency fund comes in!

    This month coming then, your target is to find some extra money to pay to the debt yes? So are there survey sites you can step up the effort on and maybe cash out? Anything likely to come payable through TCB or Quidco? Anything you can stick on ebay for sale? Any regular bills that you can breath in and reduce a bit? Look at all the angles and I BET you can find something.

    I agree that setting yourself a too tight target to get everything cleared is probably counter productive too - it's relatively easy to keep going for the first few months while it's all an exciting new game - it's the longer haul that proves more challenging though and that's why you need to put coping strategies in place going forwards.

    One other thing - a "thought process rewire" is still required... you mentioned borrowing "a little" from a family member - over two weekends where by your own admission you had hardly anything planned. Your "a little" is my entire food budget for myself & OH for a month...
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£544.67 (17/10/17)
    • Lacherlich
    • By Lacherlich 21st Sep 17, 1:10 PM
    • 112 Posts
    • 146 Thanks
    Lacherlich
    Hey.
    I know I think I need to chill out a bit! I was expecting the council tax at some point but was hoping it would be next month. Oh well. Yeah I do have a couple of goals in mind - the first being to get under £20k which would be in December. And then under £15k etc etc. But yeah I like the idea of a small treat to celebrate the achievement.


    Yeah definitely - another thing that threw me off this month was the gas bill that was charged for entire quarter and due immediately. So my budget is now taking that into account from next month. I guess it was always going to be bumpy in the first month trying to get to grips with everything. For this month I am technically paying off some extra debt - the £100 I had to borrow from family. Its was chunk of money but was due to some of the things 'unexpected' payments I needed to make....again as you say the budget should now take into account everything - plus my extra 'buffer' means I wont be struggling as much.


    I will still be disciplined with my 'spending' money pot and will hopefully have some left over at the end of the month. I just don't want to pay it all out now and then find myself having to borrow again.


    Nothing to sell as such really - and I haven't done any surveys in a long time. I don't really get much time to do them - work all day and then gym/cooking when I get back I don't usually get to sit down until gone 9pm. Then its time to watch something before bed. But ill have a look later and see if there is anything Ive missed that I can sell.


    Im trying to change my perspective on things - its difficult. My partner was the one who convinced me to not be so strict on myself as the plan was clearly stressing me out. It should get easier though Deep breaths....


    Thanks for the advice - defo helps
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
    • enthusiasticsaver
    • By enthusiasticsaver 21st Sep 17, 2:04 PM
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    • 8,184 Thanks
    enthusiasticsaver
    I always think when you are starting to clear debt the first few months should be about new habits, realising where you are spending and rearranging debt to the cheapest possible. The first thing to stop is using credit cards and borrowing from family and friends. Nothing ruins budgets as much as unplanned borrowing.

    Can you change your gas bill to monthly direct debit to help budget for it better?
    Countdown to early retirement on 21.12.17 3 months to go.
    • Lacherlich
    • By Lacherlich 21st Sep 17, 2:13 PM
    • 112 Posts
    • 146 Thanks
    Lacherlich
    True - Ive shuffled my debt around to a 0% credit card to prevent the interest charges on the overdraft I had and the other credit card. So saving about £80 a month.


    Unfortunately the gas billed is issued through the service company every quarter based on the usage. But I am saving an amount each month in anticipation of the next bill.
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
    • EssexHebridean
    • By EssexHebridean 21st Sep 17, 2:37 PM
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    • 41,415 Thanks
    EssexHebridean
    Oh those flipping block deals for heating & water really irritate me - it's such a silly way of doing things and means you can't shop around for the best deal for your personal circumstances - sadly a heck of a lot of new build blocks are doing things that way now.

    Suggestion for moving forwards ion the spending thing - next time you have a day or a night out planned, why not think through exactly what's planned and budget for expected spends. Take that amount in cash, make sure your travel is paid in advance, and then don't even take your cards with you? Allow 10% over the top of what your budgeted figure says - and don't get caught into buying rounds of drinks etc - it's perfectly possible to simply say "Ahh thanks but I'll stick on my own tonight - I'm a bit short on funds at the moment" - and remember what you've budgeted for each bit of proceedings. Your aim is to return home with the 10% contingency money untouched of course...
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£544.67 (17/10/17)
    • Lacherlich
    • By Lacherlich 21st Sep 17, 3:23 PM
    • 112 Posts
    • 146 Thanks
    Lacherlich
    Yeah its annoying - I was expecting a bill from Eon to cover the gas then found out it was done this way instead. Oh well.


    Yeah Ill take cash with me next time I go out; that's where I got stung last month; one cocktail led to another..... ill stick to cheap wine when out! On Friday I have a work night out - so expenses paid. Then Saturday night camping - with a bottle of wine. So no chance to overspend really! In two weeks a trip to Amsterdam - but I've already budgeted spending money for that - so again no reason to go above my budget.


    So in theoooory - I should be able to save a lot of my 'spending' budget for this month. That's going to be my aim. There is one thing I do need to buy quite desperately though.... blinds for the windows. Its okay as we're on the 5th floor - so no one can look in or anything - but obviously we cant keep the light out. Ive been holding back on buying anything - figuring the evenings are getting darker anyway. But maybe I should just go for some cheap curtains or something in the meantime?!
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
    • Lacherlich
    • By Lacherlich 21st Sep 17, 3:52 PM
    • 112 Posts
    • 146 Thanks
    Lacherlich
    Just had a little more time to review the budget - and to be fair - I still will be paying off £500 this month towards debt (maybe more depending on how well the budget goes)- taking me to £2,155 since the LBM in July.... so chin up i'm not doing too badly!
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
    • EssexHebridean
    • By EssexHebridean 21st Sep 17, 4:02 PM
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    • 41,415 Thanks
    EssexHebridean
    On the blinds - maybe get them one at a time as you can afford them - they don't need to be expensive - we got roller blinds for both the kitchen and bathroom and I think even the most expensive was only about £16. Why not look to survey money to make them "cash neutral"? Have a look at places like Homebase for a good choice at decent prices - once you've found what you like instore order online for a bit of cashback too.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£544.67 (17/10/17)
    • Lacherlich
    • By Lacherlich 21st Sep 17, 5:18 PM
    • 112 Posts
    • 146 Thanks
    Lacherlich
    Yeaah good point - I only really need them for the bedroom. And haha you are so right - I can get them relatively cheap. I keep getting fliers from places like Hillary Blinds quoting about £100 for a blind and didn't really think to look elsewhere. Wow I have much to learn! The only problem I have is the windows are quite awkward - in the sense that they open right from the top of the frame - so any blinds hanging above would get in the way of them opening. If that makes sense. So would need someone to advise whats best.


    Ill have a look later - I would need someone to put them up for me mind; wouldn't trust myself to do it properly!
    Last edited by Lacherlich; 21-09-2017 at 5:22 PM.
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
    • Lacherlich
    • By Lacherlich 25th Sep 17, 5:02 PM
    • 112 Posts
    • 146 Thanks
    Lacherlich
    Pay day has finally arrived!


    I've paid back what I borrowed from family and will wait for my usual debt repayments to go out this month.


    My money has been split into savings/ main account/ spend account. And it already feels so much better to know where exactly all that money will be going. I know what I have available to spend; and have taken into account all my additional outgoings this month. As I said before I wont have much left to put on my debt this month - but I feel in a much better position. I have just over £100 to spend this week on what I want - and I am going to try and keep this to £50. I have a meal on Friday but will try to find a 2-4-1 deal somewhere. Sunday my OH is away so I may just enjoy a chilled one at home. Brush up on my Spanish perhaps.


    I've also halved my tv spend. After a mess up from BT and then finding out that I cant get SKY tv where I live - I have decided not to take out a TV package. I will only be paying for line rental and broadband -£28 in total. so saving £32 a month So that's an additional £30 to pay on my debt I didn't have before!
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
    • EssexHebridean
    • By EssexHebridean 26th Sep 17, 10:49 AM
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    EssexHebridean
    Pay day has finally arrived!


    I've paid back what I borrowed from family and will wait for my usual debt repayments to go out this month.


    My money has been split into savings/ main account/ spend account. And it already feels so much better to know where exactly all that money will be going. I know what I have available to spend; and have taken into account all my additional outgoings this month. As I said before I wont have much left to put on my debt this month - but I feel in a much better position. I have just over £100 to spend this week on what I want - and I am going to try and keep this to £50. I have a meal on Friday but will try to find a 2-4-1 deal somewhere. Sunday my OH is away so I may just enjoy a chilled one at home. Brush up on my Spanish perhaps.


    I've also halved my tv spend. After a mess up from BT and then finding out that I cant get SKY tv where I live - I have decided not to take out a TV package. I will only be paying for line rental and broadband -£28 in total. so saving £32 a month So that's an additional £30 to pay on my debt I didn't have before!
    Originally posted by Lacherlich
    where did the other £2 go?
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£544.67 (17/10/17)
    • Lacherlich
    • By Lacherlich 27th Sep 17, 12:37 PM
    • 112 Posts
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    Lacherlich
    Haha - well I was just rounding - but what Im going to do is not touch the main bill account until the end of the month and then see what is left. I want to make sure there is enough in the to cover everything going out - and I should have taken everything into consideration. But as its the first month of working like this it might be sensible to have a small buffer. Plus I had to pay an internet bill for the month I was with BT but they also charged for a month in advance which will be refunded. So that was more than I was expecting to go out.


    In terms of my spend account - my budget is actually already lower than what it would be normally because of the extra commitments going out this month; so again I may struggle to have some leftover. But I will try. Next month is when my real budget kicks in and I have no 'extra' outgoings to take into account. But essentially I have about £170 to last me to the end of the month (excluding the weekend I have already budgeted for Amsterdam). I have a meal on Friday to pay for with that - but I found a deal for £15. Then next weekend a night out; but have already agreed to pre-drink before going out and ill only take £20 with me. So it may be possible! Already had my hair cut this month too - and opted for the cheaper barbers at £12 - pretty happy with the cut to be fair!


    So based on that - 4 weekends left before payday, 1 in Amsterdam (paid for), 1 meal out this weekend, 1 cheap night out. Leaving one when I can just spend at home. So still a chance I could have money left.
    Last edited by Lacherlich; 27-09-2017 at 12:50 PM.
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
    • littlemissbudgetqueen
    • By littlemissbudgetqueen 28th Sep 17, 2:39 PM
    • 29 Posts
    • 34 Thanks
    littlemissbudgetqueen
    Hi just wanted to pop on and say you really seem to have got yourself organised with splitting the money into different sections. I will be 30 next year so hoping to have that as my goal to have credit cards all paid off! We are just back from Amsterdam - it was really beautiful with lots to see and do. We hired bicycles the entire time we were there which we loved for sightseeing!
    Car Loan: £14,000 - PAID ,Credit Cards:£5252.00 / £5154.49 Prof. Study Loan:£5642.16/ £8660.00,Argos Card:£312.95/£372.95, Mortgage:£66,277.00 (approx.) /House value£125,000.00
    Goals:
    £350.00
    /£20,000 Savings (ASAP - Sept 2019 at latest)
    LISA: £150.00 NS&I: £200.00

    Weight Loss: 0lb / 30lb
    • Lacherlich
    • By Lacherlich 29th Sep 17, 10:18 AM
    • 112 Posts
    • 146 Thanks
    Lacherlich
    Hi just wanted to pop on and say you really seem to have got yourself organised with splitting the money into different sections. I will be 30 next year so hoping to have that as my goal to have credit cards all paid off! We are just back from Amsterdam - it was really beautiful with lots to see and do. We hired bicycles the entire time we were there which we loved for sightseeing!
    Originally posted by littlemissbudgetqueen

    Hi! I am trying! Im sure there will be a few hiccups along the way but feeling way more organised than I ever was. Oh wow same goal as me then! I wanted to be debt free before 30 a couple years ago - but kinda fell off the wagon and now Im back with a vengeance. But it is probably a bit too late for me to be completely debt free by 30 - but I'll almost be there.


    Oh wow - sounds good! I cant wait to go. Definitely would like to hire some bikes too and see the place! We have 4 days there so should give us enough time to explore
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
    • Lacherlich
    • By Lacherlich 2nd Oct 17, 3:23 PM
    • 112 Posts
    • 146 Thanks
    Lacherlich
    Soo another weekend down. I didn't end up going out for a meal on Friday as my partner had really bad back pain but still spent a bit of money on lunch the next day and ingredients for a chocolate Guinness cake I made (sooooo good). However I didn't blow my budget which is good - so still have enough to cover me for my night out this weekend


    I've worked out I've paid off 8.6% of my debt so far. Doesn't seem like much but that's nearly 10% already. The 90% left to go is slightly daunting but this was never going to be accomplished quickly! The important thing is I've made a start.


    In two months time I'd have paid off nearly 20%! So that's spurring me on! My credit report was updated today and improved quite a bit since it plummeted after buying my apartment. I saw an offer for a loan which I thought would be good to consolidate everything under. But I guess it doesn't really make sense. I know how much I owe and where - which is mostly on 0%. Moving to the loan would add APR - so would probably cost a bit more even if I do clear it within a year and a half. Think the impatient side of me just wanted to do something to feel like I was still tacking the debt. But the sensible me has won
    Last edited by Lacherlich; 02-10-2017 at 3:28 PM.
    *£10,000/ £9,602 = Tesco Loan.*/ * £3186/ £3154= Tesco Credit Card.* / *£4541/ £4531=Barclay Card.* / *£1004/ £930 =HSBC Credit Card .* / * £2,150 / £345 = Owed to Family/Friends =* * £4,419/ £4,350 = Furniture for apartment *
    (Starting balance £25,000 owed in July 2017 - Now £22,839)
    • EssexHebridean
    • By EssexHebridean 2nd Oct 17, 4:16 PM
    • 8,013 Posts
    • 41,415 Thanks
    EssexHebridean
    Good work - sensible you is most definitely right!
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£544.67 (17/10/17)
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