Time to ditch the debt!

donnadoo515

Hi JMF

Just wanted to let you know that i am following your diary every step of the way and am waiting for the day when you are clear, It is so inspirational reading your diary so please never stop writing - good luck and keep going.xx

jmf76

Thanks donnadoo xxx

jmf76

Have had to pay out for lots of wedding things and re-giggle finances which has put £2000+ back on my debt.

BUT.. I'm not as high I started or as at this time last year, so can't be too disheartened.

I've also started to include my OH credit card - it does get paid off every month, but it's still debt!

I also got myself an ASDA card so I can use this for fuel only and get 2p per litre off.

Debt
Debt Interest Rate Current Balance
A&L acct (Joint) £5 per month £1194.84
A&L acct (Me) £5 per month £902.67
American Express (Me) 4.9% life of balance [strike]£3231.50[/strike] £3150.50
ASDA Credit Card (Me) £0
Capital One (OH) £121.84
More Than (Me) 3.9% life of balance [strike]£1536.17[/strike] £1546.21
Smile Credit (Me) 14.9% [strike]£3093.95[/strike] £3226.39
Student Loan (Me) 4.8% [strike]£2370.25[/strike] £2292.99
Goldfish (Me) 3.9% until July 2010 [strike]£3306.11[/strike] £3317.14

Overall debt total [STRIKE]£13,537.98[/STRIKE] £15752.58
Since last post - Debt reduced by: Increased by £2214.60 :eek:

Debt at worst: £18,039.83
Total debt paid off: £2287.25

Current target: Get my Smile Credit Card paid off asap.

jmf76

What a month!!

Well I'm updating this whilst on hold with Goldfish - currently listening to a classical version of 'Twinkle, twinkle, little star' - v surreal.

Debt
Debt Interest Rate Current Balance
A&L acct (Me) £5 per month [STRIKE]£902.67[/STRIKE] £824.24
A&L acct (Joint) £5 per month [STRIKE]£1194.84[/STRIKE] £749.88
American Express (Me) 4.9% life of balance [STRIKE]£3150.50[/STRIKE] £3163.63
ASDA Credit Card (Me) £0
Capital One (OH) [STRIKE]£121.84[/STRIKE] £118.72
Goldfish (Me) 3.9% until July 2010 [STRIKE]£3317.14[/STRIKE] £3247.14
Grattan (Me) 0% £6.19 CREDIT!!!
More Than (Me) 3.9% life of balance [STRIKE]£1546.21[/STRIKE] £1541.33
Smile Credit (Me) 14.9% [STRIKE]£3226.39[/STRIKE] £3333,84
Student Loan (Me) 4.8% £2292.99

Overall debt total [STRIKE]£15752.58[/STRIKE] £15265.58
Since last post - Debt reduced by: £487 :T

Debt at worst: £18,039.83
Total debt paid off: £2774.25

Current target: Get my Smile Credit Card paid off asap.

jmf76

I managed to get a Virgin card at 0% for 15 months so have moved over my Smile & A&L Joint acct. Although my other credit cards are debt I realised I was confusing myself by including them - they are paid off every month by my other account, so already have funds to cover them.

I'm aiming to pay it all off by the end of 2008, it's a little optimistic but rather to have tried and failed etc.

Happy New Debt-Free Year to all you other DFW & Happy New Year to all other MSErs!

Debt
Debt Interest Rate Current Balance
A&L acct £5 per month [STRIKE]£824.24[/STRIKE] £616.47
American Express 4.9% life of balance [STRIKE]£3163.63[/STRIKE] £3,096.49
Goldfish 3.9% until July 2010 [STRIKE]£3247.14[/STRIKE] £3,187.64
M&S &More 3.9% life of balance [STRIKE]£1541.33[/STRIKE] £1,507.68
Virgin 0% for 15 months £4,273.67
Student Loan 4.8% [STRIKE]£2292.99[/STRIKE] £2,215.42

Overall debt total [STRIKE]£15265.58[/STRIKE] £14,897.37
Since last post - Debt reduced by: £368.21 :T

Debt at worst: £18,039.83
Total debt paid off: £3142.46

Next Target: Pay offVirgin card asap

donnadoo515

Happy New Year JMF - I'm still following and your doing great, i've decided to get my @rse into gear now and have a go at this myself, i just need to pluck up the courage to do my SOA eeek!!

Keep going, look forward to the next update

Donna.xx

jmf76

Happy New Year to you too donnadoo515 - and congrats on starting your own debt diary!

jmf76

Well it's a month in to the New Year and I've been pre-occupied with getting over Xmas etc that my debt has been forgotten about a little. On the plus side the DD payments have fended for themselves so no late payments (yeah :T), however, I've hardly dented my total this month as I've had to put money on my A&L O/D. BUT I've still managed to pay off some debt even if it is only £20! - better than nothing. And my Virgin payments don't start until next month so that will help.

Things I have been doing this month though - more home cooking, I've decided that I need to have another go at the OS cooking so have been cooking more from scratch. Finding it quite enjoyable, a little theraputic even. There is a website www.lovefoodhatewaste.com which I found on one of the other forums here which has been helpful. Downside I blew my Grocery budget this month, but I've stocked up now for probably half of next month so it should even itself out!!! :rolleyes: I also do WeightWatchers so have been making some of their recipes - in fact their WW fudge is currently in the fridge - first time I've tried making it so looking forward to that tomorrow!!!

Oh and I've been moving non-debt finances around - got better current accounts & cashback credit cards for me & OH for day-to-day spending, so I can get rid of 3 or 4 other accounts & cards we have and hopefully make a little more money on our regular spends.

Right now for the dreaded bit...

Debt
Debt Interest Rate Current Balance
A&L acct £5 per month [strike]£616.47[/strike] £836.20
Amex 4.9% life of balance [strike]£3,096.49[/strike] £3031.48
Goldfish 3.9% until July 2010 [strike]£3,187.64[/strike] £3123.64
M&S 3.9% life of balance [strike]£1,507.68[/strike] £1474.92
Virgin 0% for 15 months £4,273.67
Student Loan 4.8% [strike]£2,215.42[/strike] £2137.54

Overall debt total [strike]£14,897.37[/strike] £14877.45
Since last post - Debt reduced by: £19.92 :rotfl::T

Debt at worst: £18,039.83
Total debt paid off: £3162.38

Next Target: Pay off Virgin card asap
Next Month's challenge: Keep up the home cooking, start matched betting & flylady baby steps again

maz1964

Hiya jmf, fantastic and you have now really inspired me to relook at the home and batch cooking will check out the site you gave thanks

am still learning and am truely inspired by everyone -

have a good day ciao maz

jmf76

Well I've managed to close my old Smile credit card (CC) down as it's no longer used and also the joint A&L which I was using the O/D on for a while there - if I don't have the opportunity to use them then I can't get myself into more debt!!! Was a good feeling cutting the cards up Also managed to get a better CC for my OH with higher % cashback so we're getting more money back for everyday spending too!

Haven't been able to do as much MB as I liked although have done quite a bit of free bingo which has been fun, even got the OH addicted.

Home cooking has been going well until this week due to family dramas and flybaby is going slowly but surely, need to pick up a few more steps on that one this next month.

Debt
Debt Interest Rate Current Balance
A&L acct £5 per month [STRIKE]£836.20[/STRIKE] £844.34
Virgin 0% for 15 months [STRIKE]£4,273.67[/STRIKE] £4145.46
Goldfish 3.9% until July 2010 [STRIKE]£3123.64[/STRIKE] £3008.80
Amex 4.9% life of balance [STRIKE]£3031.48[/STRIKE] £2966.92
Student Loan 4.8% [STRIKE]£2137.54[/STRIKE] £2059.35
M&S 3.9% life of balance [STRIKE]£1474.92[/STRIKE] £1442.88

Overall debt total [STRIKE]£14877.45[/STRIKE] £14467.75
Since last post - Debt reduced by: £409.70 :rotfl::T

Debt at worst: £18,039.83
Total debt paid off: £3582.08

Next Target: Get rid of A&L overdraft then pay off Virgin card asap
Next Month's challenge: Keep up the home cooking, matched betting & flylady baby steps.