DebtClearer's Diary to Freedom

DebtClearer

My story is not one I'm proud of, after a relationship breakdown I was very upset and gambled away my savings and stacked up a huge amount of debt. Now, having had to move to get another job money is extremely tight and I'm doing what I can to put it right.

I'm 26 so time is on my side to get this all put right for the future but obviously I need to stick to the promise I have made myself.

This month I have had to put down £950 on a new room in a houseshare...it seems that each month something expensive comes along which makes life even tougher.

I'm going to keep this diary going and hopefully some of you will stick with me and read. I have 2 big targets, to clear the debt and to save for a house deposit. I'm determined to have my own mortgage before I am 29 so let's see what happens!

heyjude2013

Hi Debtclearer,

Welcome to your shiny new diary :j will subscribe.

I too am trying to pay of my debts and start the deposit saving. I am 25 so completely understand where you're coming from with wanting be able to one day afford a house!

Good luck, looks like you're doing a great job so far

DebtClearer

Thank you Jude, I'm glad I took the time to start this and I'm going to post regular updates.

My life has been so productive recently, infact in early June I have an assessment centre to join the Police, something I have been craving to do for years. This would also help financially as despite a drop in salary I could move back home for a bit and save more.

Friends really want me to go on a Stag Do next month and I would love to go but I have put my foot down and made an excuse. I can't keep living beyond my means if I am to achieve my goals.

DebtClearer

Just applied for a new ISA with my bank at a slightly higher rate and am also going to start putting a little bit in Premium Bonds when I can, you never know I might get lucky!

timetogrowup89

Sounds like your doing well!!

Im 24 and plan to be debt free and have a mortgage by 29!!

Good Luck

DebtClearer

Well my LBM in May was obviously a false dawn but with starting a new job next month it seemed like the perfect time to do it for good this time!

I stupidly took out some payday loans this month but fortunately I was able to pay them off early with a £1000 loan. I've got 0% deals coming to an end in Jan and although I've missed no payments there 0% deals wont touch me. I've set myself a tough plan now and I will achieve it.

Plan is:
- Minimum payments on the 0% interest free card
- Proper budgeting for car ins and tax etc
- Save £100 a month
- Have paid both loans off in 18 month which will make me £240 a month richer.

Getting that loan of £1000 really put things in to perspective and actually this time around may have been the first time I couldn't bail myself out.....time to change!

DebtClearer

My phone charger stopped working today, gutted! Anyway so off I went to Sainsburys and to my horror a replacement charger was £19.99! With my new DFW ways I thought screw that and drove 4 miles to a Tesco extra where I picked up the cable I needed for a lowly £6. Got a reduced pasta dish for lunch tomorrow too.

In other news I can't wait to start my new job as a Police Officer in a few weeks, it has been a long road but hopefully something that will have a positive influence on my debt busting too

AlexLK

Signing up to follow your diary.

DebtClearer

Thanks Alex, I have been reading yours with interest, I will pop over and catch up actually

DebtClearer

Got to love pay day! Petrol prices were insanely low so filled up the full tank and also got some expenses back before I leave to start my new career. Not a bad day at all

DebtClearer

You only have to look at my signature to see the progress I'm making. Thing are really looking up and I'm ahead of the targets I set myself a few months ago. The new job is going so well....I love it!

I'm a bit worried about two 0% deals on large balances ending at the start of next year but after being rejected a balance transfer next month I am going to wait at least 6 months now before trying again.

Hope everyone is getting on well!