Gotta get Debt Free

Knitty78

I hope people don't mind me posting my first thread in here. I've been lurking for a very long time and thought it might be an incentive to stay on track to start a diary. I have done a SOA at home (and although not ready to post it on here yet) it shows I should have money left at the end of the month to put towards my debts. Of course, in reality this is not the case so since the beginning of August I have kept a spending diary. I had my first NSD yesterday! I've also seen areas that we can cut back (the usual stupidly high grocery bill that seems common to new posters) or cancel completely (unused gym membership anyone?).

My current debts are as follows:

MBNA £1391.97 APR 29.9% (priority debt as my 0% just ended and the interest is now higher than the minimum payment!)
Egg £4223.96 APR 0% until June next year
Alliance & Leicester loan balance of £10478.52 payable for another 3 years.

On top of this my husband has a 0% (until June next year) credit card of £14,000(ish). What I plan to do it clear my credit cards first and then concentrate on his before hitting the loan. One of the reasons I want to clear this is a) I'm fed up of spending so much money on repayments each month and b) in a couple of years I want to get a bigger house so we can hopefully, have children.

I hope you guys don't mind me posting here and maybe, one day I'll post up that SOA...

Pinky15

Hi there Knitty - and Happy New Dairy!!!
Well done for making a start and addressing your debts it takes some guts!
I too am trying to clear loans and credit cards and find you get loads of support and motivation from the guys on here!! Looking forward to seeing your SOA ! Pinky x

Knitty78

Thanks for the welcome. I forgot to mention that as well as the spending diary I've started making more of an effort with my Toluna and Pigsback accounts and trying to remember to use my quidco. I also signed up to TAB and Virgin bingo and I've been doing the scratchcards on there.

On top of this I have a cupboard full of stuff to list on ebay. Which has been there for over a year! I must start listing these as I think this could make a massive difference to clearing my debts but it seems to take me so long to list each item so I always put it off.

Pinky15

Wow you have certainly made a good start! well done!:T

Lemon_Tree

hi and welcome to the boards, and well done for making some positive moves to tackle things. just one little thing, i think TAB have stopped paying their scratchards as cash so you may wish to move over to someone from the Minerva family of bingo sites eg i do Butlins but there's loads of others.
Like you i'm hoping to be able to get a bigger home in the next few years incase sproglets come along, even if not because ours is just too small. but it's a pipe dream until i'm debt free

Knitty78

Thanks for that, I shall check it out tonight. I did notice the scratchcards money going into my bonus pot but I suppose I can continue to do the cards and use the winnings for bingo. Never know do you

dallas85

Hi Knitty78 - Congratulations on starting your diary! I look forward to following your progress.

Fire_Fox

Welcome to diaryland! Have you thought about joining the Grocery Challenge?

Knitty78

Before I want to take part in the Grocery Challenge I want to see exactly how much we're spending on shopping so I can reduce it gradually (up until now we shop and then bin the receipts so I actually have no idea how much we spend and I've guestimated). I also want to clear out the freezer so I can batch cook more so we can resist the takeaways on those days we just can't be bothered.

Almost a NSD day yesterday as I spent 30p on some potatoes for dinner.

Today will be more expensive as it's WW and I owe £6 for a cookbook.

On the plus side I found my library card and have ordered the book for my book group and another WW cookbook to get some more ideas.

I've also found details for a beauty school where I can go and get my pits waxed for half the price I normally pay (I know this is a luxury but I like the results waxing gives and I would only give this up if I really had to) and today I'm going to see if I can so the same for my hair cuts!

Knitty78

My hair is in desperate need of a cut and I've failed to find a teaching salon either close to work or home. However I've managed to get a standby appointment at one near to work £20 cut and blow dry instead of the £35 I normally spend. And I have 6 weeksish to find something cheaper

Pinky15

Afternoon! Just looking at your takeaway and eating out vices - yes much the same here used to eat out at least 2-3 times per week and get a takeaway. Now the huge credit card bills and want of a better life have ended those. What we have done is allowed ourselves one night eating out each week (usually a monday as its bogof!)or a takeaway.
The idea to see how much you are spending on food is great. Over one month I kept all receipts and totalled it on here and found we were spending 3oo for 5 of us. I have now got that down to 200 per month. Once I get little one out of nappies that will release another £30 ish per month! I also looked on the old style board and got some good meal ideas from there! ps I really hate cooking so once my debt is cleared I can afford to go back to eating out twice a week (though not on credit this time) lol:rotfl: