The journey begins...

Daydreamer2011

After a long time lurking about here, time to get my butt into action and do some serious debt clearing!!!

I've been in debt for about 7/8 years, not always at this level but at some level nonetheless.

I've gone through many stages of paying debt off, getting it manageable then diving straight back in.

Me and my OH have got bits on finance for the home but I'm not going to include that as I just want to concentrate on my own personal debt for now.

So... I guess I had better start with the figures, I am still waiting for my credit card statement to arrive as I have lost my online details but I can add that one later.

Loan - £3,743
Overdraft - £750
Credit Card - ...

My most recent slip up was my loan, I had 2 credit cards that's were both maxed out so I took out a loan to pay everything off so I only had one monthly payment, managed to clear one credit card but the other crept back up as well as the overdraft so I'm right back at square one.

I do have a problem where I am a shopaholic and suffer from extreme highs when I shop so I will be definitely be doing the NSD challenges!!

Anyways I have to pop out now but will be back on in a bit with more fascinating information!

Much love

DDx

timetogrowup89

Good Luck on your DFJ!

Daydreamer2011

Just saw my credit card statement, £3,400 - maxed out! Ooops! Which brings my total debt to £7,893 which is probably the highest amount of debt I have been in so this is definitely the kick up the bum I need!!!

So, next stage is to stop shopping needlessly and to start making an effort to clear this!

I am already clued up on my budget, my only downfall is shopping so I really need to stop this.

Income is approximately £1,100 and outgoings are £720 which is everything apart from food and petrol so that leaves me £380ish but credit card payment has to come out of this too...

At the moment this is seeming a little daunting as this is the largest amount I have ever owed and before I have had payments come in from my dad and inheritance so that has helped me clear a lot of it so now I'm on my own! Eeeek!!

I'm going to have to take some time to get my head round this and work out where to start...

Daydreamer2011

Well, today has been one of the lowest days I've had for a while! Kicked off last night with my first money-induced sleepless night, I guess it serves me right for reading my credit card statement before bed!!!

On a more positive note, I took action and cut up the credit card! I am a bit daunted by how long it is going to take to pay back as I'm not always going to be able to put a large payment on my CC, especially trying to fit other commitments around it! But at least the temptation has gone so I can't spend on it anymore.

I have £300 at some point coming in which I can put straight on which is £200 from OH as I got him a few things on it and £100 from work for my glasses that I got a month or so back, but I have realised today that I've lost the claim form so I'm going to have to find it how to get another one tomorrow.

I've only had about 2 hours sleep and I'm so tired its not even funny! I was hoping to write a sizeable entry to help motivate me but instead I think I'm going to watch some telly and maybe have a nap.

I must make sure I get back on here and do a better post when I have more energy!!!

Daydreamer2011

Oh my days I think I hit a world record today!!! 1st of the month and I have £5 in my account!! Bearing in mind I was paid yesterday!!

Bit of a shock but I had transferred all my bills, made a payment to my CC and paid back my OH. And I have a couple more payments coming in early next week but still!!

On the plus side, decided to get shopping at Asda today as we usually shop at Sainsburys and was pleasantly surprised! £30 I spent and that is usual bits for tea, a few free-from bits for OH, a toy for the cat, 2 lots of washing liquid (BOGOF) and treated ourselves to some fancy juice! Definitely shopping there again although it was a bit hectic!!

So overall, probably hasn't been the best day but feeling optimistic that once my extra money comes in I will be completely fine, now I don't have my credit card I do feel a lot more in control, I feel that when I do know I have my credit card I get a bit anxious wanting to spend but knowing I shouldn't then I get the euphoric high then the lows when I realised what I've done, but now I don't have that temptation I feel so much better because I know that the money I have is mine so I need to spend it wisely and now I get a high out of budgeting!!

Daydreamer2011

I got my updated credit card statement through today which I was actually excited about as I wanted to see how much I had paid off as it has been a very tight month this month as I wanted to put as much money on there as possible and I managed to clear £139 off it - not too shabby.

Also, had a look on my loan and that has been reduced by £40, seeing my monthly payment is £110 it doesn't seem that great but I assume that will be the interest...

So, in one month I managed to pay off £179 which on the grand scale of things is 2.26% off my total debt - ROCK ON!!!!!

I am now beginning to realise that this is going to be one long journey and now we also have to save up for my dad's 60th birthday next year as we are all going to Florida, this is going to be an exciting few months!!

On a plus note, my dad has recently come into some money so is paying for me and OH to go on our own little holiday in September which is very welcome so all we have to do is get a little money together for spending money so that is something else to look forward to (my dad knows my train of thought and before giving us the money he said it has to go on a holiday and not debt!)

Anyhoo, me and OH have the whole day together today so he is currently cooking me a nice lunch so I had better get off the computer and go spend some quality time with him

timetogrowup89

Daydreamer2011 wrote: »

So overall, probably hasn't been the best day but feeling optimistic that once my extra money comes in I will be completely fine, now I don't have my credit card I do feel a lot more in control, I feel that when I do know I have my credit card I get a bit anxious wanting to spend but knowing I shouldn't then I get the euphoric high then the lows when I realised what I've done, but now I don't have that temptation I feel so much better because I know that the money I have is mine so I need to spend it wisely and now I get a high out of budgeting!!

I used to get that same euphoric high from just buying myself ANYTHING, even things I did not need in this lifetime or any other lol.

You will be surprised when in a few weeks that high starts to come from reaching your targets. I usually look at my debt figure and my incomings/outgoings just before pay day and set myself a monthly target. Then when I go to buy silly things I stop myself and try to pay it on the debt. Then when I reach my target before the next pay day it gives me a little high...

How sad life has become haha.

Are you trying to focus on clearing one debt at a time or just paying them all down?

Daydreamer2011

I am focused on the ones I have to pay which is my loan and credit card as both of these have to be paid monthly, I haven't even had a chance to look at my overdraft lol!

My sister contacted me the other day to say that she received a letter from her bank as they investigated her PPI and were going to refund her £4k because she paid one of her loans back early and wasn't refunded the PPI.

Lo and behold, while doing my personal admin yesterday and going through the post, I received a letter from my bank saying I may be entitled to a refund for 2 of my old loans so I checked my loans and I paid off of them off early - really early in fact so I decided to fill out the claim form and going to post it back today.

I'm not really expecting anything but it isn't costing me anything to do and if I can get some sort of refund then happy days!!!

Daydreamer2011

Oh it has been a while...

No excuse just laziness, would love to say things have changed but not really, got PPI money and spent it all now down to £40 for the rest of the month.

OH has been really supportive though and has finally given me the kick up the bum telling me the truth I needed to hear - I'm bad with money. Felt really upset and hurt when he first said this but after hearing what he had to say I realised he was right. I guess I always thought I would be good with money as I'm the organised one in the house and I'm always thinking towards the future and maybe having a mortgage one day...

So, time to get my head together and realise he is right (dammit I hate admitting that, good thing he doesn't go on here otherwise I would never hear the end of it he he!!)

So, going to get my statements together and see where I am at with my debt and also do a very frugal food shop!!!

DD x

Daydreamer2011

Oh it has been a while...

No excuse just laziness, would love to say things have changed but not really, got PPI money and spent it all now down to £40 for the rest of the month.

OH has been really supportive though and has finally given me the kick up the bum telling me the truth I needed to hear - I'm bad with money. Felt really upset and hurt when he first said this but after hearing what he had to say I realised he was right. I guess I always thought I would be good with money as I'm the organised one in the house and I'm always thinking towards the future and maybe having a mortgage one day...

So, time to get my head together and realise he is right (dammit I hate admitting that, good thing he doesn't go on here otherwise I would never hear the end of it he he!!)

So, going to get my statements together and see where I am at with my debt and also do a very frugal food shop!!!

DD x

Daydreamer2011

5.68% paid off

Still have my credit card statement to update but don't known when that will arrive so TBC for now...