The amazing shrinking debt!

eco

hiya, I remember when I got rid of the ex and had to learn to manage my money on my own, wasn't easy cos I wanted to go out all the time, and ran up £1000 in debt not much really compared to some, but to me it was shameful.

Was going to say although it's hard mending your way's, I fall off the wagon every now and then, but thanks to this site I no longer beat myself up about it, which I did, good luck with your journey.

dreamdreamer

I suppose it's good that I'm annoyed I broke my budgeting rules! A couple of years ago I wouldn't have given a t@$$!

dreamdreamer

Went into the bank this morning to sort out a fee they'd put on my account for a "platinum" account (which I don't have!). Their error, now refunded, but while I was sitting in the office they tried REALLY hard to pedal me a credit card. I stated more than once that I was trying to get debt free, I'd just cancelled two credit cards, one of which had a better APR than Lloyds were offering, she just kept yammering and in the end I just had to stand up, bluntly say "I DON'T WANT a credit card!" and walk out. SO annoyed! :mad:

I probably will eventually get another credit card, when all my debts are paid off I'll get one that's 0% purchases, with a low limit, and spend a little a month and pay it off (maybe the Tesco shopping), to keep the credit rating up. But right now? No. I don't trust myself that much yet.

Second rant - I made the mistake of paying for my OHs mums main christmas present - a digital camera. We have a rule in our house - presents are from both us but I buy my side of the family, he buys for his (they're very over-generous and if he wants to spend his hard earned cash that's fine, my family are happy with a selection box!). I broke this because he's working flat out so I said I'd go into the city and buy it while I was doing my own shopping. No sign of the money from his as yet. And I can't chase it because he spends SO MUCH on me, and always picks up the slack when I'm broke etc, it would seem so mizerly! I wouldn't have minded paying really, it's just screwed up my budgeting for the month because I was expecting to get it back so I'm cranky. :mad:

I'm grumpy today! It's too close to payday! 4 days to go...

dreamdreamer

I'm away seeing my parents from early tomorrow so probably won't post - but get paid at midnight and finances should look like this:

Debt: [STRIKE]£8116[/STRIKE] £7880
Savings: [STRIKE]£100[/STRIKE] £800 (loads of overtime last month!)

After xmas I will pay off the laptop finance with the savings as I discovered last week this is at 29.9% APR not the 17% I thought it was (I assumed it was the same as the TV finance I took out 2 years beforehand with the same company - silly me!) so my £29 repayments are only paying £9 a month off the debt, £20 is interest!

This will bring my debt down to £7080 - my goal for 2011 is to pay off £5000 through normal payments and overpayments on the loan (from overtime). This should bring my debt free date to August 2012, and somehow 2012 sounds much less far away than 2013. In fact in a few weeks, 2012 will be next year! It'll feel good to say:

"I'll be debt free next year!" :j

dreamdreamer

Debt now: [STRIKE]£15,800[/STRIKE] £7880

50.1% PAID OFF!! OVER HALFWAY!

CosmoCat

Woohoo! doing a little debt free dance for you! Congrats!!

tiny_courageous

wow that's really impressive! Well done!

987654

Be proud of what you have achieved - both in £ terms but also the ability to change your approach. Great results!

SCOOBY-DOO_5

Be proud of yourself for getting your debts sorted out. I have been dealing with my debts for two years now, but i am seeing the light at the end of the tunnel now. My debt free date is November 2015.:)

dreamdreamer

Well - the finance settlement was £830 so that leaves me slightly out of pocket but hey ho, now £30 a month better off and debt is down to:

[STRIKE]£15,800[/STRIKE] £7050

55.4% PAID :j

The £30 will be added to the £100 a month SO into my savings account to overpay the loan every 6 months. This would alter my debt free date to:

23rd July 2012

I really hope I achieve this but it relies on my willpower holding out for another 18 months as my current budget with these overpayments has no wiggle room.

Back to work tonight for 6 night shifts on the trot. NYE is traditionally our busiest shift of the year. YAWN. I'm tired just thinking about it!