Debt free by 40 -- 19 Months and counting

StressedSteph

Thanks guys for all your replies. I really think the silly excitement of updating my signatures here, colouring in my squares and watching the totals come down are a real incentive to keep me going.


Also reading my list of Reasons to be debt free helps. It was written in my darkest hour and its easy to forget how scared I was of the post/phone, sleepless nights and being completely stressed out. It is risky me forgetting these things as I could VERY easily slip back into bad habits.


Hopefully this list helps me be mindful of how bad its was back in December.


xxx

kittycatfan

Hi well done but what do red squares mean i cant work it out lol

StressedSteph

kittycatfan wrote: »

Hi well done but what do red squares mean i cant work it out lol

Hi KittyCatFan


I am trying to halve my debt this year. So I need to pay off 10k by December.


Each square represents £100 paid against a debt.
I am trying to pay off 1k per month


The photo shows that I have paid 33% off so far.


Hope that makes sense. I'm not great at explaining these things.


I tried doing this last time with the total debt. But my debt was too high and progress felt too slow. At least with splitting the debt into two, it feels like I am getting somewhere. xx

StressedSteph

Hmmm Had a slight breakthrough with NEXT.


You know I had another credit agreement sent out to me last month, with them trying to get me to sign for them to pile on over £250 interest for me paying a lower amount than the minimum.


Well I got brave and called them today. Explaining my snowballing etc. I explained that I just needed April with the lower £120 payment and then May onwards I will be paying in excess of £400 per month.


The woman agreed that I didn't need to sign a credit agreement for just a 1 month low payment, so to carry on as agreed and if I pay the £400 in May then my monthly payments will be less than £120 anyway.


Phew........


I will still tackle NEXT next anyway as it is a very similar amount of Debt as Co-op. Just a relief to know they will not be chasing me during April.

sweetpea26

Well done Steph..

Goodbye barclaycad

Keep going...like your squares etc.

Magsnoodle

Wow Steph. These purse items are such a great idea and SO tangible as reminders of what your goals are. I love the coloured square approach - really sensible and visual.

Keep up the brilliant work. xxx

Chrysalis1976

Woohoo Steph, well done you great progress.

Love all you calculations and notes too!

C x

StressedSteph

Thanks for all your kind words, I really appreciate it.


Just managed to pay £130 off from my Overdraft. Total is now £2934. I have to get the OD down to £2500 by July as that is my old agreed amount. Apparently if I don't get it to that amount by July they will demand the full amount back. Eeeek.


So I really need to pay around £144 for the next three months to avoid having a huge payment to make in July. Once I get to £2500 they said they were happy for me to pay it down with as much as I can, although unsure if the interest free period will carry on as well. Probably unlikely


Not much else to report today. Its raining again, so I have kids running around the house like loonies completely bored and I have no money to whisk them off to the cinema or anything


Oh well. Take care all

StressedSteph

On a good note I am £9 away from getting under 17k :j

mfmaybe

Steph you are doing so well. That £9 must be driving you mad