Clawing back - the second half

Claw_back_money

Hi all

At the end of April we reached a target – and I’m very proud to say that we’ve paid off over 50% of what we owed. :beer: Our balance is down to £7,630. On these forums I don’t have to explain what a struggle this has been, so this diary is to try and help with The Second Half of the DFW journey.

We currently owe money to three places:
Our joint account, overdraft £2980.44 (19.3%)
My Barclaycard £1,050 (4.9%)
Egg card £3,600 (0% until Aug)

The current plan is to pay off the B’card, then try and move the Egg card balance to B’card, and then to tackle the Joint Account. The joint account has caused the most hassle; all bills, food, car expenses etc come out of there, and I find it really hard to pay it off, if any money is in there it just gets spent. :wall: The only way I’ve ever managed to reduce it is to put a chunk of money in and reduce the overdraft limit by that chunk.

The family set up is me, OH, DS1 at Uni (back vacations), DS2 at college (lives at home, probably uni in Oct). There is a DD also, but she is living with her BF and doing her own thing. Like many other DFWs I find that my OH is quite content to leave the money side of things to me. Job wise OH and I are lucky enough to both be working. I think our jobs are safe for the time being. I’ve also got a second job for a few months which brings in some extra pennies.

I also do all the usual things, Quidco, Butlins and TAB bingo, I’ve learnt to cook from scratch and have reduced our food bill hugely. :A I’m having a rest from eBay – partly because I’ve run out of things to sell and partly through lack of time. I do quite a lot of surveys/mystery online shops.

Does anyone else find the DFW journey exhausting, or is it just me? I guess I need to focus on being half way there!

Thanks for reading
Cbm

Chopsie&Chelvis

:T
Just wanted to say 'well done' and keep going.

I understand the being exhausted and sick of it feeling, and I'd like a day (ha, a few hours) when I don't think of the words debt, repayment, interest etc - I just keep trying to motivate myself by thinking 'well I won't ever have to think about it again when it's paid off'. Doesn't always work though, especially not today - might try chocolate instead :rotfl:

jayss

Well done for getting so far.

Swinstie73

Hey CBM,

Well done on getting where you are, 50% paid, that's brilliant! I'm about 25% paid and it's exhausting thinking about how far I have to go. You'll get there in no time. Great rate on BC, I've only got 6.9%, wonder if they'll lower mines, Mmmm!

savingholmes

well done on what you have achieved and good luck with the rest!

Claw_back_money

LaurenManchester wrote: »

:T
Just wanted to say 'well done' and keep going.

I understand the being exhausted and sick of it feeling, and I'd like a day (ha, a few hours) when I don't think of the words debt, repayment, interest etc - I just keep trying to motivate myself by thinking 'well I won't ever have to think about it again when it's paid off'. Doesn't always work though, especially not today - might try chocolate instead :rotfl:

Hmmm, chocolate. Amazing how well it works isn't it! You seem to be doing really well on your journey too; nearly 30% in 7 months... wow!
Thanks for popping in.

Claw_back_money

Swinstie73 wrote: »

Hey CBM,

Well done on getting where you are, 50% paid, that's brilliant! I'm about 25% paid and it's exhausting thinking about how far I have to go. You'll get there in no time. Great rate on BC, I've only got 6.9%, wonder if they'll lower mines, Mmmm!

I think the 4.9 was a balance transfer on a new card, which is part of the reason I want to clear it before I try and transfer the Egg money to it - I think that will go to 6.9% then.
Thanks for popping in!
Cbm

Claw_back_money

Many thanks to all who have posted - its great knowing I'm not whittering to myself! I was so relieved that others feel tired by debt-busting too. I'm pondering on which bit is the hardest (as its less depressing than staring at my spreadsheet, and is more interesting than working!) Which is hardest, a or b below...:

a) the beginning bit, when you might have no 'slack' - being near the edge of the overdraft limit etc. I remember that bit being very difficult; one false move and thadum - £80 charges for being over-over-drawn. And there is the change of lifestyle - saying no to takeaways, going out, trips, magazines..... But on the other hand debt-busting is new and interesting.

b) a bit later, when things are settled, there are routines, you are used to not having some luxury items so its not quite so painful. Sainsbury's 'basic' range stops looking strange in the cupboard and the family don't hassle for things. But on the other hand feeling quite worn-down by it.

I'm not sure - what do you think?
Cbm

Claw_back_money

Helloo
hooray its the end of the day, and nearly the end of the week! Thankfully I've got a quiet night in, on my own, tonight so will probably end up dozing - its been a long day. DS had a minor bump in the car which is out of action for a bit, OH is mending in true MSE style, but, didn't see we needed a bracketty-thing so the bumper can't go back on. Consequently when I'm working somewhere off the beaten track I have to get a lift, and this morning's lift was v early... and the lift back v late.... Ho hum hope the car is fixed soon.
We need to make a decision on the shower too. It is leaking, has been for weeks and is probably leaking behind the knob. OH took the knob to pieces a few weeks ago to mend (shower wouldn't turn off), but with the car and everything else going on he won't be able to get to it for ages, so we need to decide if we're going to get a plumber in and who.
I was disappointed to see that TAB bingo has stopped its payment from the free scratch card; its now going to a bonus fund. I have over £10 so will withdraw, but that seemed like easy money.
Hope everyone out there is ok...
Cbm

savingholmes

HI CBM sorry you are having a spot of bad luck! It is hardest at the beginning then it does get easier! I was doing fine until my job ended - still meeting min repayments but want more than that! Stilll staying on track tho

Claw_back_money

savingholmes wrote: »

HI CBM sorry you are having a spot of bad luck! It is hardest at the beginning then it does get easier! I was doing fine until my job ended - still meeting min repayments but want more than that! Stilll staying on track tho

Hi Savingholmes
Thanks for that. I see from your sig you're an MSE craftaholic - what does that mean - is there a thread? I love to be creative and enjoy making cards, these days I've only got time for friends and family b'days, but one day eh........!!
One good thing from the olden days (that would be pre jan 08, when I used to [STRIKE]have [/STRIKE]spend money, is that I've got loads of stuff to make cards with - I've even ebayed some. What do you do?
Cheers
Cbm