Runaways very long haul

Runaway

I had a DFW diary many years ago but can't remember my username so I've decided to start again.

Today has been a very depressing day for a few personal reasons plus the constant struggle to make ends meet. The username basically reflects my mood when I awoke this morning. I really did feel like running away & burying my head in the sand, but that won't help anything & would be irresponsible.

Ive spent most of the day working out the debts & credit card debt is horrendous, but mortgage is not too high in the grand scheme of things. Total debt including mortgage = £68,750

Today has been a day of reflection & I'm pretty determined to get the debt down. In the past when I had a diary it was far too ambitious in as much as the plan was to reduce debt much quicker than was realistically possible. The result being that it was demotivational.

I have also written down a monthly budget & although money is very tight, income is higher than outgoings. As it stands today, I reckon debt can be reduced by approx. £700 per month, so a very long haul ahead.

Debt Free Date is 8 years & 2 months.

Runaway

Having read thro many superb diaries this evening I feel a little less despondent & really need to be positive & set targets for finances as well as personal lifestyle. Hopefully healthy body = healthy mind & improving finances & focussing on healthy living shall complement each other. I really don't want to feel the way I did earlier today ever again.

Many of the diaries are truly inspirational & having scanned many think I need to do the following:

1. Set realistic debt reduction targets
2. Set realistic monthly budgets & stick to them
3. Reduce alcohol consumption days (although it's currently not excessive)
4. Increase physical activity & log running distances & gym visits
5. Try to find ways of earning extra cash

Shall try to post some stuff on Monday & hopefully can sleep a little easier tonite.

Goldblend_2

Good luck with your journey to be debt free and please don't runaway just yet.

:j

Hug for you just incase you need it :grouphug:

Runaway

Thanks for your comments Goldblend

shinner

Love the username. I know the feeling have lots of debt and also have a £125000 mortgage. Keep on going and getting reading lots of good help, advice etc here. I think i would of had a nervous breakdown if wasn't for being able to read and realise i am not on my own. xx

elantan

Hello and welcome ... I'm sure you will manage your dream this time, you know the pitfalls and I'm sure your aware that the desire to pay it all of will ebb and flow

I decided this time to set myself a goal of 100 months to turn my money situation around, not only did I want to be out of debt I also wanted to have some savings so that I wouldn't find myself back in the debt trap, for the first time since joining mse I have stuck to a challenge, it's taken away that panic/ rush/ failure scenario... I'm now 26 months into it ( need to update signature ) and whilst I'm a bit behind in my plans I am still working away at them and I know I will make it this time.

I'm not suggesting that you copy me ( but I you want to that's fine too) I'm just trying trying to help you understand that you arnt alone and you will find whatever way works for you and once you do you will make a huge dent in your debt

Good luck on your journey

Runaway

Thanks for both of your kind words & advice shinner & elantan. I do realise it may be a long roller-coaster ride but I really must do it. The diaries are very inspirational.

Felt a bit better today especially after running (jogging rather!) 6.1 km in the sun although it was very cold.

Mortgage payment off tues. so 1st bit of debt-bashing has started in earnest.

Very tired now. Time for big ZZZs

Runaway

Been looking at the finances & April fortunately is one of the few months where there are no extra costs for items such as birthdays, etc., so I'm hoping to pay a little more to reduce debt this month.

Done a realistic monthly budget & MUST stick to it.

Itsadogslife_2

Hi Runaway,

Just wondered - would it not be better to look at your debt figure without the mortgage included? I see the mortgage as a necessary evil that most house owners will have and I am not sure Mr Lewis sees a mortgage as bad debt.

Some people find it easier to set smaller challenges and then feel like they reach goals than to set a very distant large target in the future. It may help you to keep on the road and keep motivated if you maybe picked on debt to chip away at first etc. etc.

Good luck on your journey xx

if_at_first...

Hello :wave:

I saw you wanted to cut down on drinking and there is a great challenge thread on here were you have to say per month how many days you will go without drinking alcohol.

There are a bunch of really great people on there! Signed myself up for april also for 24 days I think. Failed miserably yesterday so today I am really gonna go for it!

Runaway

Thanks for both of your comments.

I used to drink heavier than now but reducing a little bit more would help health & wealth. Also the point about mortgage debt is a valid one I need to think about particularly as current house asset is quite high.