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  • FIRST POST
    • Nicnak
    • By Nicnak 10th Sep 17, 8:30 PM
    • 539Posts
    • 2,628Thanks
    Nicnak
    Debt Free Year
    • #1
    • 10th Sep 17, 8:30 PM
    Debt Free Year 10th Sep 17 at 8:30 PM
    Hi,

    I've pretty much buried my head in the sand over the past 15 years about debt and what it means. I've always seen it as 'normal' to have debt for things, and never thought twice about it. Recently though, I have wanted to think about cutting down my work hours, and I just can't. I can't be the mum I want to be to my 4 year old because I need to work to make sure I can pay the bills and debts. That is when it hit home, that I can't continue like this. I am having a wedding reception in December, which I know is going to take up most of my 'spare' cash, but from January 2018, I will make a difference to my debts.

    Currently have
    £485 0% credit card. It was £2000 in July, So I have been ensuring that I am working on it.
    £7500 Tesco loan at 3.2% - Paying £220 a month and due up in Three years
    £17,450 car loan. Car is in negative equity and I'm stuck in the PCP. The car also is over mileage and has damage. I am 10 months away from handing it back, but with excess mileage and damage, I am thinking this might not be the best idea. Currently paying £351 a month for this luxury that I am thinking I don't need. (I shouldn't have got it, but I did, I can't change what I have stupidly done, and now need to work on the best options).
    I spend money every month on things I don't need, and really need somewhere to record and focus on what it is I am doing, and the inspiration to keep going when I see progress is being made.

    I've started a written diary as well to try to help. If I pay off these debts, then I know that I will be £500 better off. In April, my phone is due up for renewal, and I have already looked at the SIM only deals which will take it to the £500 a month mark.

    i am going to try to earn some extra per month to pay off the debts, which in the short term might reduce the time I have with my daughter.

    Here goes...

    I really need to do this now.
Page 22
    • Nicnak
    • By Nicnak 2nd Dec 17, 5:41 AM
    • 539 Posts
    • 2,628 Thanks
    Nicnak
    Yesterday got so much worse.

    Got home and the window cleaner had been. We owed him for three cleans already, and he hasn't been coming back and collecting the money. Had to then go out and get £40 to give to him. Hubby cancelled him, and we said we would have 'one off' cleans a couple of times a year as he is pretty unreliable anyway. so it ended up a high spend day.


    Today I am taking C to a birthday party. I need to buy the present and card this morning, and I will get a coffee whilst I am there.

    I can feel myself slipping into the, oh well, might as well spend everything mode and I don't want to.
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • ladymay
    • By ladymay 2nd Dec 17, 9:24 AM
    • 706 Posts
    • 3,308 Thanks
    ladymay
    Sorry to hear you're having a wobbly time.

    The upside to the window cleaner situation is a) he's paid now, and b) you've resolved it so it won't happen again.

    The temptation to spend is EVERYWHERE at the moment, isn't it?! Keep working towards your goal, you've got this. I hope you have a lovely weekend x
    Debt 14/04/12: £15736.77
    Debt 09/12/14 ZERO POUNDS
    Debt 15/10/17: £1714.40
    Debt 14/11/17: £1631.61
    Moving back to the UK 05/01/18
    • DebtFreeDuo
    • By DebtFreeDuo 2nd Dec 17, 9:47 AM
    • 606 Posts
    • 2,975 Thanks
    DebtFreeDuo
    I know exactly how you are feeling as I am right there with you. Look how far you have came, you gave up your car and you are now saving hundreds of pounds per month. If you really feel the need to splurge then why don't you take a look at your budget and see whether a small treat would fit in to your budget?

    Have you finished your Christmas shopping? If not then you could focus your spending here so that you are at least covering this whilst spending? This is what I have been trying to do and mostly its working but I did also treat myself a little.
    Loan:1780.49 2207.38 Car Loan:2179.17 2419.64 0% CC:1010.98 1063.48 Total: 4970.64 5690.50 DFD Dec 18
    SPC 586
    • Nicnak
    • By Nicnak 2nd Dec 17, 6:12 PM
    • 539 Posts
    • 2,628 Thanks
    Nicnak
    Thanks.

    A little spend is deffo not within my budget because of the unexpected payment.

    I still have some bits to get, but going to get them with December's pay.

    Money is tough this month, and next month. I have learnt a couple of lessons, not getting little one clothes as and when she needs them is not a good idea. You end up spending over £50 because she has no pants that fit her growing legs.

    Little and often is deffo the key.

    I'm not having a very thrifty weekend at all. It's turning into a nightmare, and I am so frustrated with it all.

    I need to get my head back in the zone and out of this mindset of oh well, it's happened, I'll make it 100 times worse. x
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 2nd Dec 17, 6:26 PM
    • 2,176 Posts
    • 10,303 Thanks
    HairyHandofDartmoor
    It is very frustrating when you have to spend money unexpectedly, I was having a bad dsy on Tuesday with DH's parking fine etc, but don't give in Nicnak. If you can get through this wobbly patch then you'll be pleased with yourself. You've been making such great progress so far .

    Have you feel more cheerful 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 = £818/Emergency Fund 2 = £181.63
    • DebtFreeDuo
    • By DebtFreeDuo 2nd Dec 17, 6:48 PM
    • 606 Posts
    • 2,975 Thanks
    DebtFreeDuo
    Oh thats a shame, maybe hide away a small amount when you can afford it for future moments like this. You are right in that it will make it worse and you will feel so much worse if you do give in. Keep at it, stay strong and stay focused, you can do this and these set backs will make you stronger and better prepared for whatever your journey throws at you next.

    I definitely agree with the little and often, I have a voucher from smalls birthday that I keep in my purse for when he's desperate. It was his birthday 8 months ago and I have only just used part of it for a warm hat and gloves. I imagine I will get another one for Christmas for him and I am in no urgent need of any clothes for him.
    Loan:1780.49 2207.38 Car Loan:2179.17 2419.64 0% CC:1010.98 1063.48 Total: 4970.64 5690.50 DFD Dec 18
    SPC 586
    • Nicnak
    • By Nicnak 3rd Dec 17, 7:39 AM
    • 539 Posts
    • 2,628 Thanks
    Nicnak
    I'm seriously considering just giving up and starting in January. I have tried so hard, but it seems like so much has stood in my way in the last few days. I still have parts of the wedding to pay for as well. x
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • TheMoonandBack
    • By TheMoonandBack 3rd Dec 17, 8:38 AM
    • 47 Posts
    • 81 Thanks
    TheMoonandBack
    Don’t give up until January, budget for an expensive December
    Knock a tenner off the debt, have only 2 NSD’s, but keep going.

    You have done such a fantastic job so far that wherever you are in January is going to be a way better place than it would have been.

    I have been in your position and the most dangerous time is now. I got down to oweing £15k from £50+k and nearly bought a new car, I was on my way to pay a deposit and stopped, and thought, what the hell am I doing !
    It’s like the first time marathon runner who gets to 15 miles and thinks “hey, I’ve run 15 miles that’s a great achievement, better than most people, but I need a rest....”
    I would say slow down, walk even, but don’t stop.
    Last edited by TheMoonandBack; 03-12-2017 at 8:43 AM.
    When you get to the end of your rope, tie a knot and hang on

    Proud to be dealing with my debts
    • Pauper1
    • By Pauper1 3rd Dec 17, 8:49 AM
    • 287 Posts
    • 2,352 Thanks
    Pauper1
    Over the last few days I've read all of your diary, and you have done so well! Your posts have been inspiring and motivating to read. I agree with TheMoonandBack, but even if you don't knock *anything* off your debt this month, don't give up, just keep an eye and even if you start in January with the same amount of debt as you went into this month with, then at least you've not added anything.
    DMP start 1st May 2014 - £22,850 £39,349.41 Original DFD from Stepchange 6th Sept 2039... Aiming for 1st Nov 2026
    Priorities changed, sold our house, going through the settlement process and hope to be debt free by Christmas 2017
    • Nicnak
    • By Nicnak 3rd Dec 17, 1:41 PM
    • 539 Posts
    • 2,628 Thanks
    Nicnak
    Donít give up until January, budget for an expensive December
    Knock a tenner off the debt, have only 2 NSDís, but keep going.

    You have done such a fantastic job so far that wherever you are in January is going to be a way better place than it would have been.

    I have been in your position and the most dangerous time is now. I got down to oweing £15k from £50+k and nearly bought a new car, I was on my way to pay a deposit and stopped, and thought, what the hell am I doing !
    Itís like the first time marathon runner who gets to 15 miles and thinks ďhey, Iíve run 15 miles thatís a great achievement, better than most people, but I need a rest....Ē
    I would say slow down, walk even, but donít stop.
    Originally posted by TheMoonandBack
    Over the last few days I've read all of your diary, and you have done so well! Your posts have been inspiring and motivating to read. I agree with TheMoonandBack, but even if you don't knock *anything* off your debt this month, don't give up, just keep an eye and even if you start in January with the same amount of debt as you went into this month with, then at least you've not added anything.
    Originally posted by Pauper1
    Thank you both.

    I just feel so frustrated by it all. Iíve changed so much and Iím impatient. I think Iím more upset that Iíve withheld buying for little one and the splurge had to come. Little and often for her from now on.

    Iíll look at everything in January and set targets then. I have two items of the wedding to pay for between now and then.

    Iíll still be posting but going to try to manage my expectations and situations. This month isnít a right off, but Iíve u serestimated how tough it would be. Not a mistake Iíll be making again. Iím going to be prepared for this next year. I hope youíll all stay with me on this journey.

    Itís been one hell of a learning curve. X
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • angela110660
    • By angela110660 3rd Dec 17, 2:11 PM
    • 751 Posts
    • 1,865 Thanks
    angela110660
    How are you getting on with the car blanket ? Is it good?
    Free films - 2009: saw 7 films. 2010 saw 7 films. 2011 saw 7 films. 2012 saw 5 films;2013:Lincoln; Les Miserables; Cloud Atlas; The Big Wedding; Summer in February;Philomena;Saving Mr Banks;2014:Jersey Boys;2015estament of Youth;
    • Nicnak
    • By Nicnak 3rd Dec 17, 3:06 PM
    • 539 Posts
    • 2,628 Thanks
    Nicnak
    It hasn’t arrived yet. It says dispatched but I guess with Christmas, it’s taking its time. Xx
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 4th Dec 17, 6:30 PM
    • 539 Posts
    • 2,628 Thanks
    Nicnak
    No spend day today.
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 5th Dec 17, 7:25 PM
    • 539 Posts
    • 2,628 Thanks
    Nicnak
    No spend day, no alcohol day.
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • DebtFreeDuo
    • By DebtFreeDuo 5th Dec 17, 9:40 PM
    • 606 Posts
    • 2,975 Thanks
    DebtFreeDuo
    Hope you're doing ok, well done on the NSDs.
    Loan:1780.49 2207.38 Car Loan:2179.17 2419.64 0% CC:1010.98 1063.48 Total: 4970.64 5690.50 DFD Dec 18
    SPC 586
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 5th Dec 17, 9:49 PM
    • 2,176 Posts
    • 10,303 Thanks
    HairyHandofDartmoor
    I'm seriously considering just giving up and starting in January. I have tried so hard, but it seems like so much has stood in my way in the last few days. I still have parts of the wedding to pay for as well. x
    Originally posted by Nicnak
    Don't give up or you will go mad and spend a fortune. You've been doing so well.

    Lower your debt paying expectations for December, but don't get carried away with spending or you will regret it.
    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 = £818/Emergency Fund 2 = £181.63
    • Nicnak
    • By Nicnak 6th Dec 17, 7:03 PM
    • 539 Posts
    • 2,628 Thanks
    Nicnak
    NSD and Alcohol free Day

    It’s taking a lot of strength to not just go f it and spend.
    X
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • 117pauline
    • By 117pauline 6th Dec 17, 7:26 PM
    • 457 Posts
    • 5,618 Thanks
    117pauline
    However time to reframe......

    How many NSDs have you had in the last 3 days? Oh yes, that will be 3.

    A debt free journey isn't straightforward and it isn't about not meeting temptations. It's about doing your best and carrying on.

    The idea of saying f it is so so tempting. But you are keeping on. The wedding is a huge event so no wonder your debt busting mojo isn't quite at the front of your brain.

    It's now the sixth, not too long to go to your next pay day. Perhaps if you need it, give yourself £40 but keep recording spends etc.

    You really are doing brilliantly. If you can't, we can. AND THERE ARE MORE OF US SO WE MUST BE RIGHT.

    Take care honey
    Pauline
    Don't get it perfect - Get it going
    Better Than Before
    • Nicnak
    • By Nicnak 6th Dec 17, 8:18 PM
    • 539 Posts
    • 2,628 Thanks
    Nicnak
    Thanks all,

    I’m so low about the whole money thing. I think it’s hormone related and wedding stress. I’ve still got over £1000 to pay out, which will end up on credit, and I messed up with the new car so will have d to find time to rectify my mistake in January. I’ll explsin all when I can. Right now I’m just too angry at myself and wanting to blow it.
    X
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Cumbria lass
    • By Cumbria lass 6th Dec 17, 8:32 PM
    • 882 Posts
    • 4,489 Thanks
    Cumbria lass
    Weddings are stressful occasions, especially when you are wanting to be in budget . Everything will work out in the end and you will have an amazing day . I think you just need to pay what you need to pay , try to keep other spends to a minimum, then re-evaluate all your budget in January.

    Don't give up now , we all have hiccups along the way .
    Nov 2017 CC1 £3329 CC2 £600

    Debt Free Nov 2019: earlier if I have my way
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