Start of my Debt free life.

o2bfree

I have been lurking for a while and reading some diarys.
I have now come out of hiding.
I have some serious personal debt which I am going to work out exactly later.
I got in to this state due to being a 'yes' person. I can't say no when my OH wants to buy somehing or my grown-up son wants to 'borrow' money.
And 3 years ago I had a personal tragedy. Which plunged me into a cycle of spending money to buy happiness.
Today I had my last shopping outing.
From tomorrow I will be working on becoming DF.
I will be trying for 15 NSD, paying £2 a day off debts and tackling life head on.
Thank you.

reall

i to am a newbie and want to get debt free also .maybe we can encourage one another.Debt total is 6,500 ,two credit cards,one personal loan repayment ,payday advance,one ccj and catologue.
i know you can do it and it just means deciding what you can afford in total to pay towards your debt.highests interest account paying the most.perhaps approaching them to reduce or freeze interest etc.
\good luck .first step to take responsibilty,second take a consistent step.

o2bfree

I have a plan but need to see the APRs and amounts which I will do tomorrow.
Going to tackle highest APR first.
Thank you for your encouragement. Good luck we can do this together.

pennywisepoundstupid

Just wanted to say goodluck with your mission to become debt free, i have my debt in my sig, i find that it helps me as it hits me in the face everytime i come on here.

o2bfree

Thanks.Going to do a signature tomorrow.

o2bfree

Well today I have found out some totals and APRs.
There is still one more but the statement is due in the next couple of days so will know that one too.
I am going to tackle these in order of highest APR.
One account only gave me a monthly interest rate so need to find out how to convert that to monthly.
So the list looks like this-
Additions £179.48 APR 39.7%
Next £1012.68 APR 25.99%
Barclaycard £4376.92 19.90%
MBNA £8457.27 interest rate 2.52% per month??
Just Debenhams to find out now.

The plan is to payoff Additions in full on the next statement - one gone.
Then throw all my money at Next.
I want to be DF in 2 years so I can buy a new house.
Here we go Day 1.

o2bfree

So far today I have saved £10. I had 2 No.7 £5 vouchers and decided to buy my Mum 2 nail polishes for her birthday. Bought No.7 polishes and paid for them separately so I could use both vouchers so instead of £6.74 each they were £1.74. So chuffed with myself.
That £10 is going off a debt but need to work out an APR before I decide which one as want to start with the highest after Additions as that is being paid in full on pay day.
Feel very focused and determined.
I want to be DF in 2 years time tomorrow.

o2bfree

OMG!Just worked out the APR on my highest debt is 34.8%.
That is where my £10 is going.

pennywisepoundstupid

Well done on the Boots saving

scotdebs

hi there just wanted to say good lock on you journey - I started my own diary just over a week ago and finding it is really helping me stay focused (and not go back to sticking my head in the sand again)

good luck you will see from the many other diaries on here IT CAN BE DONE

o2bfree

Day 2. September 1st 2012 is the day I want to be DF.
Well I have had a change of heart on the way I am paying these debts back. Instead of starting with the highest APR, I am going to get rid of a couple of the smaller debts and then the money I would have used to pay them off can go towards the next debt that I want to pay off.
That might not make sense in writing but in my head it works.
Still finding my way round and need to do signature but haven't really had the time.
Back to school day tomorrow so feels a bit like a new year. Good place to start.