For once and for all!

R2B

I've been in debt since I started university at the age of 19, now 10 years later I still have that debt. Over the years I've paid some off then things crop up so it's gone back on. It is always there at worst about £7000 at best just under £2000. I can't really tell you what I've spent it on which is the worst thing, I have no real assets.

Last year I thought it was about time I started to tackle it so I transferred the credit card debt (at 18.5%) to an interest free credit card and paid off most of my overdraft using another interest free credit card. Now I need support to stay on track as I know from experience that this is the point where I come unstuck!

Having looked at the forums there is so much inspiration (i love every penny's a prisoner!) that I am determined to become debt free once and for all this year!

For info I rent a house and split bills with my boyfriend, we both work but both have debts. We don't spend loads but we aren't careful either. We want to save for a deposit, to get married and start a family but our debts hold us back.

I've used the budget planner to work out my spending and am currently spending less than I earn and am putting the remaining towards my debts. I'm now looking at decreasing my spending further and boosting my income to pay it off quicker, I will let you know how this goes.

Wish me luck!

R2B

First challenge set after finding the thread... No more buying books until I have read the ones I have already bought! 39 to read before I even think of buying any new ones.

Now to extend this to all other areas of my life...
No more buying films until I have watched the ones I have already got
No more printing photos before I finish putting the photos in the albums waiting to be finished
No more buying fitness videos, equipment, clothes until I regularly use the ones I already have
No more buying craft supplies until I have completed the projects I have already started

[Deleted User]

Good plans!

I should probably do the same with regards to the books & dvd's!

Dxxx

R2B

So 5 NSD and lots of looking at ways to save so ready for action today...

R2B

A few little things achieved today...
- all loose change around the house paid in and to OD
- cancelled fee on account saving £12.95/month
- changed TV license payment frequency to save £5/year
- cashed in a (v.small!) winning scratchcard that has been hanging around the house to go towards OD

Now for a few more.....
- Filled in forms for tax allowance on uniform and professional fees
- Applied for a better current account

R2B

Other than NSDs (6 NSD out of 10 and the spend days were fuel and food!) have not got too far yet. Set the wheels in motion for changing phones to pay as you go which will save about £35/month. Waiting for the details for my new account. Checked council tax and tax codes which are right. This week it's energy comparisons and switch to see if we can get it cheaper. The biggest achievement so far has been getting my OH on board. We looked at last years spends and set a budget for this year, so that's both of us now determined DFW!!!

R2B

A very successful first month... Lots of NSD, lots paid off my debt, gas and electric switched, meal planning and weekly food shop routine started, first book read, next book started. Pleased with the progress so far!

I have not been checking in much here as my OH is also tackling debt so we've been encouraging each other! :T Have been reading lots of threads which I've found motivating, here's hoping February is another good month.

banwa

Well dome R2B, feels good, doesn't it?

Keep up the good work:)

R2B

Thanks banwa. It does feel good!!

I think my mentality towards spending is changing. I'm feeling more in control and independent rather than less like I thought I would.

banwa

Eyup! How's this week been R2B?

R2B

Sorry for not replying sooner banwa but things have been a little hectic. Debt-wise things are going well, cleared credit card 1 and overdraft, credit card 2 is coming down nicely but I've decided to maximise my interest free period for the minute so paying off enough to clear it by the end of the interest free period (rather than sooner) and putting the rest of my money into savings!

Work-wise things are a bit more unstable, we are having a restructure which could see me reduced to part time hours or could give me the opportunity for a promotion. Fingers crossed for the promotion!!!

OH is doing amazingly well paying off a lot from his high interest credit card, should be clear by the end of next month all going well, then just one low interest one to tackle.

We've really caught the money saving bug, making sure we get good value for what we are spending and cutting out spends on things we don't really need or want. If we carry on like this we will completely turn things around!

Next on our list... Set up our own vegetable patch.
And I'm going to aim for 15 NSD this month.

See you next month.