Life whilst paying back debt

geordie_ben

Cinema tickets? Get em free.. LINK

You need to be paying off your most expensive debt (highest APR, not highest figure) first, whether it has defaulted or not. The quicker you can get out of debt, or even to a more manageable position the better.

Are you stuck in a contract for your phone and internet? There's cheaper deals out there depending on your area

If I was you I'd pay your bills, keep maybe £40-50 a week for entertainment (but even this might be too high) and pay everything else off your debt

Great that you've got everything in order tho, makes it easier to formulate a plan

365days

Are you sure the £10 a month for clothes is realistic for 4 people? Seems very, very low. 2 pairs of decent schools shoes will eat half of your yearly budget.

Great that you have had payrises and promotions. Well done.

My advice would be to be a little more generous with some aspects of your SOA so you have a truer picture of what you do actually have left over.

StartingOut

Thank you for all of your replies, they really helped. Happy to report that one of the loans has less owed on it than I thought which knocks another month off the DFD. Looking like it may all be gone by the last quarter of 2015 which is amazing - always expected this to take many more years!

Will just keep on budgetting and watching those balances go down!

niksyg

Hi, Buildings and contents could come down, I currently pay just over £15 per month for both!