Tomorrow is another day - Scarlett's Debt Free Diary

ScarlettOHara_2

Another £12.56 off the credit card today from transferring a paypal balance to my account. This means between ebay and other small bits and pieces I've been able to pay off almost another £100 this month

Current debt totals:
Natwest (Barclaycard balance tfr) - 0% - £5,672.22
Loan - c.11% - £591.11
Total debt: £6,263.55

Since the start of the diary I have paid off £6,867 or 52.3% of the total. The loan only has another three payments on it so there is very little interest left. Now its all on 0% I can make some good in roads into getting the balances down and still hope to be debt free by the end of the year. Progress will definitely be slower for the second half of the journey as there wont be any more nice bonuses coming in to pay off huge chunks. All good though - as time goes on I'll learn to live on the right budget which will mean enough for savings when I'm debt free!

Hope you are all well x

banwa

ScarlettOHara wrote: »

Another £12.56 off the credit card today from transferring a paypal balance to my account. This means between ebay and other small bits and pieces I've been able to pay off almost another £100 this month

Current debt totals:
Natwest (Barclaycard balance tfr) - 0% - £5,672.22
Loan - c.11% - £591.11
Total debt: £6,263.55

Since the start of the diary I have paid off £6,867 or 52.3% of the total. The loan only has another three payments on it so there is very little interest left. Now its all on 0% I can make some good in roads into getting the balances down and still hope to be debt free by the end of the year. Progress will definitely be slower for the second half of the journey as there wont be any more nice bonuses coming in to pay off huge chunks. All good though - as time goes on I'll learn to live on the right budget which will mean enough for savings when I'm debt free!

Hope you are all well x

Blimey Scarlett, you're doing fantastically well. Congratulations. I'm trying not to go green eyed.

ScarlettOHara_2

banwa wrote: »

Blimey Scarlett, you're doing fantastically well. Congratulations. I'm trying not to go green eyed.

Just read your diary, sorry to hear your news. Hope you get sorted soon! Dont be jealous, I've done the easy bit now, the rest of it is pure hard slog. The next few months are going to be hard going

ScarlettOHara_2

another £3.95 paid off the credit card today with a refund coming through. That's another 0.03% paid off

Points make prizes!

ScarlettOHara_2

Been quite a good month. Have managed to pay off a bit more, got everything on 0% so didnt quite manage the £400 I usually pay as there was the 2% fee but then on top I managed to sell a few bits on ebay and an old phone. To date that is additional credit card payments of £95.

Total debt is now:
Credit card 5567.17 (0%)
Loan 591.33 (finishes Jul)
Total owing 6158.50
Total paid 6972.05 (53.1%)

Still working to be debt free by the end of the year and have almost knocked a month off that.

Hope you are all well x

Hiddenidenity

Looks like your doing Fab Well done

ScarlettOHara_2

Got a few more bits on fleabay. Not as much as at Easter time but clearing out my make up box found a few bits that I dont use that are decent. Either people will buy them or I can chuck them out. Doubt any of them will make me rich but there is the potential for £10-£20 profit in there.

Now I've almost got the budget under control I need to move on to something else. Having a spreadsheet and micro goals that I can keep track of seems to work well so maybe a weight loss/calorie burn spreadsheet coming up! A friend of mine has one of those wrist bands you wear that tells you exactly how many calories you burn (like on the biggest loser) but they are ridiculously expensive.

ScarlettOHara_2

Had a busy morning spreadsheeting and now have a lovely spending diary that also reconciles my credit card 'pending' balance (a pet hate is trying to remember what it always is!). That way I can see how much of the spending budget i have left without worrying about balances on accounts etc. As long as I stick to the budget on the spreadsheet the accounts will look after themselves.

Ebay doing ok hopefully. Running out of things to sell now but it is surprising still what does well on there so there still might be the odd nugget in the back of a drawer somewhere. It's meant i have been able to pay another £30 off the credit card though so all good stuff.

This month is going to be tight as there are a few things I want to buy that are going to eat up the budget. I'm determined to stick within it though so lots of cheap lunches, no takeaways or big nights out etc. Should be possible given the lack of a social life!

ScarlettOHara_2

Have decided I really really want to move house so on top of debt clearing I need a push to do some mortgage clearing to get down the negative equity.

Does anybody know if it is better to have a higher mortgage and no other debt (so clear cc as quickly as possible) or to have a lower mortgage with up to £5k on a credit card. Obviously doing what I can do try and attack both but where should the priority lie?

Think I'll ask on the house boards too and see what people say.

Hiddenidenity

ScarlettOHara wrote: »

Have decided I really really want to move house so on top of debt clearing I need a push to do some mortgage clearing to get down the negative equity.

Does anybody know if it is better to have a higher mortgage and no other debt (so clear cc as quickly as possible) or to have a lower mortgage with up to £5k on a credit card. Obviously doing what I can do try and attack both but where should the priority lie?

Think I'll ask on the house boards too and see what people say.

Sorry I have no idea hope someone can help.

Any particular reason you want to move? x