Financially Free by 31.12.2013

Shelbi

So after a period of lurking & burying my head in the sand, paying off minimum payments and loans I have been inspired to clear all my debts by the end of the year. I had originally thought to clear one card approx. £3000 but after reading Ultimate challenge 457/ £16600k I have been inspired to do all in my power to get debt free and clear the lot before the end of the year…so as it stands:
As it stands I currently have £7827.55 of negative wealth...which was originally around 25k (3years back) racked up on car finance, loan, holidays & frivolous spending *hangs head in shame*:embarasse

The debt as it stood at end of May was :£7827.55 consisting of : natwest cc £3550.00 barclaycard:£3834.85 bank loan remaining:£392.70 & £50 IOU.:eek:
Im planning on doing this by cutting my spending to a bare minimum…no more champagne lifestyle on lemonade budget for me. So DFD and saving where I can, selling anything that’s no longer needed & becoming better at managing my money.
So im writing this debt diary in order to keep track of how im doing. Its a way of holding myself accountable & a kinda sounding board when I need to bang my head on a virtual wall.

So here goes….time to get debt busting once & for all!! :T

mrs_motivated

Hi Shelbi and welcome to the forum, I wanted to say you have done really well paying off your debts so far and are on the right track... Best of luck for the rest of the year and i can assure you these boards help so much, the posters provide inspiration and lots of threads to keep you on track

Shelbi

Thank you Mrs Motivated, very much appreciated!!.. x

Shelbi

Today managed to pay an extra £200 on my Nw CCrd, though looking at it im going to need to be making DP of around £1046 per month, which shouldnt be a problem if I tighten my belt to the last notch..only thing to worry about is my upcoming holiday with the girls...Theyre talking Marbs my budgets more Margate :eek: ...pants!!! Im sure ill think of something.:doh:...Surrendered my season ticket loan the other day, i have a bike to cyle into work on, & even tapping in & out cheaper...still waiting on the cheque, itching to bank it & pay it against my card. every little helps!! I hope its there when I get home from work!!:dance:

Shelbi

Such a beautiful day outside, managed to bank my cheque & pay another £45 on my credit card today, trying to work out a realistic budget for what I need spending wise till payday.

Been thinking as one of my credit cards are 0% till June14 (not that i expect it to still exist by then) and I gain your points I may start using it to pay bills then transfer funds from my current account to pay the card as soon as transactrion complete. This way my credit card doesnt grow but ill have lots of points to spend to put towards xmas presents. I have set myself a new task not to spend more than £50 on xmas presents this year. I normally buy for my whole family and I dont even want to think about how much i've spent in the past. so this year ill be aiming to make gifts, bake gifts & buy with vouchers/points earned. so 24 gifts (approx) on £50 budget (points not incl). Im going to be paying bills anyway might as well get something out of it...ker-ching!!

tallyhoh

I usually do ok at christmas, I save tesco, nectar & boots points & do online surveys for gift cards. All the household loose change is put in a pot & every couple of weeks I exchange it for morrison saver stamps. all that along with homemade & recycled gifts sees us through.

Shelbi

Hi tallyhoh, sounds like you got everything sorted, thanks for the idea of online surveys I never considered that, really appreciated...recycled gifts too... Love it!

Shelbi

Today I paid £400 to my credit card which leaves me with £50 till payday just in case of emergencies...cannot wait for payday to come!
Inspired by tallyhoh ive made two sealed jars... One for pound coins, (glue so I can't get to it)..planning to crack it open in December & use it for presents & maybe a treat for myself if I hit debt free status *fingers crossed* other pot is for other change..I've decided I need to put at least a penny in it every day...small change but it felt good to save even a little bit whilst I battle my debts.

Another Nsd so have been having a spring clean looking for treasures for the car booty/eBay...and a chick flick and face mask tonight...so rock & roll *love it really though*:D

Hopefully aiming to keep that left over £50 to throw on the credit card but have lunch booked with the girls (group on deal already paid for so feels like a free lunch) and a spa break next weekend (also a pre paid groupon deal) dinners not included...am wondering if they'll fancy a weatherspoons... actually probably should check out taste card and see what's near by, going to try avoid the hotel restaurant as much as possible ...it's still early days but its feeling good!

[Deleted User]

tallyhoh wrote: »

I usually do ok at Christmas

Me too.

I manage it, by not spending anything on Christmas.

Shelbi

Hi bedsit bob...your lucky I wish I could get away with that...but still it'll be nice making things & finding cheaper gifts...looking forward to it

Shelbi

Today's another nsd, enjoying a lazy Sunday, scouring through mse reading others experiences and tips on how to get debt free...have downloaded a spending diary to help me keep track of where my money goes....hoping to be able to account for every penny...then set them to work at paying my debt down... I will clear this debt by 31.12.2013!