wot-a-mess debt crisis

ani*fan

Happy New Year WAM

Wishing you loads of debt-busting success in 2012

AFx

wot-a-mess

Thanks for all your positive new year messages.

Ran on the treadmill earlier. Nothing else to do really.

The weather has been totally horrendous up here for a few days with winds of up to 100 mph - can't remember such high winds in all my life. I have always hated the months of Jan. & Feb. as they are normally, cold, damp, wet, windy with virtually no sunshine & quite depressing really. Gets light about 11am & dark about 2pm (on a good day)

This year the plan is to have these 2 horrid months as good debt-busting months with frugal living & sticking strictly to budgets.

Wouldn't mind taking circa £10k off the unsecured debts in 2012 but this does seem a very tall order, however hopefully i can at least aim for this target. In any case the debut simply MUST get below £30k this year.

welshgirl78

Good stuff wot-a-mess, I am impressed by your positive attitude (ongoing!) and what you have managed to do so far!

Keep it up and maybe think about joining ne of the challenges (Make £2012 in 2012 on the "Up your income" board springs to mind) to help you keep EVEN more motivated

wot-a-mess

Hi Welshgirl,

Thanks indeed for your very positive post & the suggestion on the extra income thread....shall check it out later.

I guess remaining positive is the ONLY option & having decided to get rid of the debt (despite all the ups & downs this brings) it will be gone one day.

£110 paid to CC today so debt reduced a wee bit further

Itsadogslife_2

Hi Wot a mess, I dont think I would function with such little hours of sunlight It is getting light about 7.45am now here in the Midlands and getting dark about 4.15pm. I have often wondered whether I would benefit from one of those SAD light boxes or an alarm clock that wakes you up gradually with the natural light but then I just think I am a lazy bum who likes sleep too much

I do think it sounds the perfect time to have a frugal month or two.

I don't like this windy weather, it was so blowy today walking the dogs and trying to get to sleep last night was impossible. We have the chimney breast running through our bedroom and it was howling and whistling :mad:

Have you worked out how much would come off if you just managed to pay off hat has to be paid off rather than any over paying?

Hopeful1

Hi wot-a-mess or not-so-much-of-a-mess as you should be called now! I've just read your diary and it is fab! My debt level is similiar to yours, but my monthly repayments are minimal so I'll be repaying my debt for 155 yrs i think! I'm a member of the Payment a Day thread. That's really helped me focus.

I shall subscribe to your diary as I'm definitely a long hauler too. I'm planning to make some big dents in my debts this year as well.

Happy New Year :beer:

wot-a-mess

Itsadogslife wrote: »

Have you worked out how much would come off if you just managed to pay off hat has to be paid off rather than any over paying?

Hi Itsa, good to hear from you. I'm not really too sure what you mean by this. BTW I'm so impressed by how much you have reduced your debt. Very well done indeed.

Also Hi to Hopeful1 & thanks for your very positive comments. I'm still in-a-mess really with the high debt levels but I'm trying to control the finances & reduce the debt.

CC payment off current a/c today so debt reduced a wee bit again.

hillside777

Hi WAM.

You're doing very well and I'm impressed you're trying to pay off £14,000 this year and not £12,000.

Keep up the good work.

wot-a-mess

Hi Bonnigton, Thanks for dropping in. The £14k includes mortgage which is not in the "unsecured" debt total, but I thought it would be a good motivator to try to pay off a big chunk of £s in total. Iam hoping to pay well over £15k towards mortgage & unsecured debt this year.

Our finances are very tight indeed just now due to the high unsecured debt levels & shall remain so for a while by the look of it, but on a positive note there is well over £100k equity in the house. I have very seriously thought about remortgaging but have resisted thus far & hopefully can stay on the current path. Don't wanna wish our lives away but If things go to plan financially (fingers crossed) we'll be debt-free & mortgage-free in 5.5 years.

I would however feel much more comfortable if the unsecured debt was below £25k, but it's not & it won't be below that level for a while. So for now the reduction target is £35k, then it'll be £30k, then £25k, etc. I think breaking it down to £5k chunks is better for personal motivation.

chevalier

Please try really hard not to put the unsecured debt onto the mortgage. If something should happen then you could lose your home.....

Good luck with continuing to overpay. Have you thought about breaking the debt down even further? Ie working out how much it is a day, and then working out something to pay a bit more than that daily amount?

How much will you pay off this year if you just continued as you are? Ie didn't pay any extra. That can be a good motivator too.
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