Hi an introduction

Delree

Hi there I thought I would say hi as a new member.

I am a debt free wannabe and will be so by Sept 2013 when my largest loan expires.

I ended up a load of debt because I was working a well paid job and therefore spent over my means and always paid the minimum on my credit card whilst still charging it. This was (or seemed fine) until I was made redundant in 2009.
I quickly got another job but it was not anywhere near as well paying and whilst never missed any payment on my loan or credit card found myself skint and frankly miserable.
A year of struggle went on where my loan got met my credit card balance got higher each month as I would be forced to charge it as I would always run out of money towards the end of each pay cycle (calender month).

This couldn't go in as I would forever be in debt and it would haunt me for years

Since then I have made a concerted effort to pay down my card, first of all I got an extremely lucky break, my parents gave me an interest free loan for my credit card, I realise not everyone gets that and won't go on about it.

So now after ALL my bills, rent, council tax, contact lens, mobile phone, internet and two loan repayments I have a supposed disposable income of £491.00 per cal month.

At the beginning of each pay cycle I head to the supermarket and spend a good hour spending roughly £50.00 on essential groceries for the month, plus some bulk beer (I ring fenced my beer budget as much as I could ).
Then each week I allow myself £10 for the week to spend on things like a loaf of bread and pint of milk etc. I pack my own lunches.
For the weekend I allow myself £40 to enjoy myself.
Theoretically that leaves an extra £241 per month to spend on debt, I channel £180 into debt and the rest into a rainy day fund which if goes unused I will channel into debt.

My sacrifices were weekday drinking and smoking and premium lager whilst out. Also I would hit Sainsbury's everyday for my dinner, bad idea that really racks up.

All in all my longest loan expires in Sept 2013 and that is my debt free date and needless to say I am counting down the days.

I hope to contribute a lot here as its good meet like minded fellows.

Also I work in tenant rent arrears so if anyone has issues regarding this and law surrounding it including housing benefit I am happy to help

Thanks for reading!

Clarie_2

Lovely to meet you! well done with all the changes and the plan - here's to DFD!

[Deleted User]

Welcome to the boards and well done for getting yourself organised

D9

CH27

Hi Delree:)
Well done on getting yourself sorted.