New debt free wannabe diary! Cant wait to be debt free!!!

losethedebtlou

Hi everyone!

I read Start Late, Finish Rich by David Bach and it has totally inspired me to take control of my finances! My aim is to be debt free by the time I am 30, I have five years to go so I am 100% confident I can make it! Here are some things I did over the last two days since reading the book for my first diary entry:

1. Made over £200 in 2 days selling stuff on ebay and amazon!
2. Opened a new ISA at 3.5% interest rather than leaving my money in my old one which has now dropped to 0.5%
3.Opened a stakeholder pension which I have set up monthly payment into for my old age!
4. Written letters to my creditors asking them to freeze interest
5. Saved myself £50 in bank charges in one simple phone call
6. Set up monthly payments into the new ISA and into a xmas fund so I dont become skint in December!
7.Decided I am going to plough any extra money into paying off my loan because I found out that paying just £20 a month more off it finishes it 8 months earlier! And thats only £20 a month extra!
8.Bought some items from TradeTang to sell at a profit on ebay, should make £40 in total
9.Set up a seperate account for my bills and spending money so I never go overdrawn
10.Used my money I made on ebay to pay some off my £100 overdraft so that should be gone by the end of the month!

I cant believe I did all the above in only a couple of days, and considering last month I missed a loan payment and had to pay the arrears this month if left me £100 short to start and now I feel a bit richer!

Still got to figure out how I can get rid of my pesky car finance.....

I advise anyone to read David Bach's books , they motivate you so much!

Thanks for everyone on this site as it really keeps me going to read all your motivating stories! Will be updating you regularly on my debt free wannabe diary!

Lou x :T

Debt: IVA - 2 years left til freedom at age 27! _party_
Loan - as of Oct 09 £6677 left to pay
Cahoot Overdraft - £1000 down to £960 Oct 09
A & L Overdraft - £100 going down.......will keep you updated
Car Finance??? nothing I can do Im afraid just have to grin and bear it! :mad:

honeybear_2

Thought I was seeing double then, as I'd just read your post on the main DFW board!

Really impressed with all you've done over 2 days, well done :T

Best of luck with it all for the future

losethedebtlou

Thanks so much! Yeah I posted on there then realised you could open a diary! So now I can post as my debts fall to keep myself motivated, so nice to have support of people who praise you rather than criticise you for getting into debt in the first place!! Whats the point in that?? I know I have done wrong and now I am putting it right!

Good luck everyone!

Lou x:p

losethedebtlou

OOOh, just found my old ISA money and shared it between my new ISA and my xmas fund! Yay!

Lou x

Debt: IVA - 2 years left til freedom at age 27! _party_
Loan - as of Oct 09 £6677 left to pay
Cahoot Overdraft - £1000 down to £960 Oct 09
A & L Overdraft - £100 going down.......will keep you updated
Car Finance??? nothing I can do Im afraid just have to grin and bear it! gggrrr damn my Beetle! :mad:
ISA Savings : £35
Xmas Fund : £25