aiming to be debt free by 40 :)

lynnsey30

Decided it was time to make my own little diary of my debt free journey just so occassionally I can look back on it and remember how far iv come. Had my LBM in January 2012 when I got fed up of not even covering my monthly payments on a very old managed loan (taken out 2003 term of 5yrs owed more than original loan in 2012 despite never missing a payment )So I upped the payments to cover interest plus a little bit more. as of today i owe

£175 Park xmas savings
£688.01 Provident
£896.51 Mum
£7646.35 Managed loan
£177.49 Capital 1
£468.79 Vanquis
£536.60 Aktiv Kapital
£20.58 Lowell (5 days til this is paid :T)

At the current rate of payments I should be debt free in 2021 but Im aiming to be debt free by 40 in just over 5yrs time :eek:
So here it begins xx

hannahroberts1985

Hi :wave:

I started a diary a couple of days ago i'm finding it really usful to keep my mind of spending money when out and about. Sad i know but i'm looking forward to updating my signature everytime I pay of some debt :j and instead of worrying about my debt and being bored with no money i'm thinking of ways to save/make money.

Good luck with you journey

Hannah x

lynnsey30

thanks hannah good luck to you too. well only 3 days til another debt is paid off, made 2 payments today and its my daughters birthday today so hoping for a little change from her birthday tea to put towards the sealed pot

lynnsey30

well after an expensive day yesterday I am back on the frugal wagon until my other daughters 16th at the end of the month. going to redo the old budget today and see if i can manage any small extra payments and if not at least i know iv met my payments for another month feel so very in control of finances at the moment hope the feeling lasts. ooo 2 days to go til my last lowell payment

lynnsey30

hmm having a very down day today just cant seem to make my money go far enough no matter how hard i try and how many times i rework the flaming budget nothing is getting paid off fast enough and im just fed up with it all. oh well suppose tomorrow is another day hopefully will feel happier then x

lynnsey30

just cancelled the Lowell DD because it is PAID OFF! still got a long way to go but after this month I can really start paying with a vengence

lynnsey30

well no more payments til monday and nothing paid off for another couple of months but i have received an email from Lowell saying the account is paid so i will print that off and keep it safe bought some more uniform bits for the youngest yesterday so thats a bit less money i will have to put on the cc. the challenges on here keep me focussed and am still feeling very in control even if im not able to treat us all but once im debt free the treats will seem even nicer im sure

lynnsey30

my 1% challenge til the end of july is £106.10 cleared after interest. clearing this stupid debt 1% at a time makes it seem more managable

lynnsey30

hopefully today will be a nsd got lots of housework to do so another busy but productive day. got all my daughters presents yesterday and no money put on the cc again next thing to concentrate on is uniforms and paying the park off then that will be xmas presents paid for

hannahroberts1985

Morning :wave:

Your still doing really well. Well done on clearing one of your debts :j

Glad to see you keeping up with your diary I find updating mine daily really helps me keep focused.

May have to look into the 1% challenge seems a bit easier than the 100% challenge i'm having on my own :rotfl:

Will check back soon xxx

lynnsey30

thankyou hannah hope your debt free journey is going well, 1% definitely seems more achievable to me well today iv paid another £10 off but iv also decided to give up smoking!! some of the money saved will go towards debts and some in a little pot to save for a short holiday for me and the girls
debts 1 week after starting the diary are
park £155
provident £688.01
mum £896.51
managed loan £7705.35
capital 1 £166.79
vanquis £494.86
aktiv kapital £536.60
lowell £0