Disco Dolly V's Debt

Disco_Dolly

jaynebryan96 wrote: »

Hi, have just read all your diary. You've done amazingly well with your debt busting. Sometimes we get bogged down by whats left but look how far you have come and also the change in attitude towards money is amazing. Well done. Have subscribed to continue seeing how you get on

Thanks for the sub and your kind words jaynebryan96! I swing between being an "obsessive debt-busting lunatic living for payday" to "putting it all on the back burner to be dealt with later". But somehow the figure is going down, I know I'll get there eventually

Disco_Dolly

Morning DFW's,

Payday today, I have made debt repayment and updated signature, I just love seeing that figure going down. My debt total is now just over €8700 and I have 60% of my debt paid off. I'm delighted with that. I started January 2016 with 40% paid off debt so I can see the progress now. Technically the debt snowball should be picking up speed now as I have only 2 debts left to pay and can pay more off them now with less interest so I'm hoping I can blast the remaining 40% this year. I'd love to be able to say I am debt-free this year!

I'm considering giving Ynab a go, I've been looking at the videos tutorials and reading success stories. I feel like I know where my money goes but Ynab might help me focus more. I'm going to try the free trial anyway. I've also started listening to Dave Ramsey again and hearing a few debt-free screams, very inspiring stuff. I'm also thinking about joining my work pension scheme, I am here almost 6 years and never joined up, I kept saying I would when the debt is gone but I think at 41 I should be investing in my future. Decisions decisions!

DD is with me this weekend thankfully but I am aiming to have a NSD on Sat & Sun, which never happens when she is around! We'll see how it goes. I have to do grocery shop this evening, list is done! I have to get fill of petrol for the week and then I might treat DD to a takeaway tonight. Then aim for NSD's on Sat & Sun. Thats the plan anyway

Happy Friday to you all :T

Disco_Dolly

Afternoon DFW's,

Cant believe its Saturday afternoon already, we had a lazy morning and got up late and had brunch not long ago.

Did a big grocery shop yesterday and shouldn't need much more for the next fortnight except maybe bread and milk. Aiming for a no spend weekend apart from petrol but might wait til Monday morning to get that as we have no plans to go anywhere. I paid another €50 off the credit card this morning so that brings my debt down to just over €8659!

Have loads to do today, laundry, housework zzzz. So I better get up off my @ss and get started. I don't get how we have so much laundry with only two of us living here, neverending!

Disco_Dolly

Happy Sunday DFW's,

I can't believe its Sunday night, that weekend really flew by!

I had a bit of a spendy day today, I bought petrol for the fortnight, took out money for DD's school bus, bought a gift for a new baby in the family and also a gift for a friends birthday, so I literally have €40 change out of €250. I had a good day with DD though and managed not to buy any takeaways. I have all the bills covered including petrol and groceries so I shouldn't need to spend anything else for the fortnight except milk & bread possibly. So I am happy enough at this point.

I was looking at my budget spreadsheet and think I might be able to pay slightly more off before next payday but I'll wait until closer to the day to see how it goes. I've started the free Ynab trial so hoping to re-focus on where I have bad spending habits, its all the little trips to grocery shops, lunch out and takeaways I believe. I'm hoping Ynab will stop me in my tracks here.

I'm meant to be concentrating on my loan to free up the savings tied to it but I keep paying any extra off the credit card lately as its easier as I can see it on my online banking and like to see the total go down, its a mind thing I think! I have to re-evaluate and see which one to snowball though, their totals are very similar, they literally are half & half of my debt. At the moment my plan is the following - I have a work bonus due in March which should be about €2000 but might be slightly less this year, I wont know until closer to the time. I am hoping to put all off this off the loan and then clear the balance with the €2k savings. That would leave me only one debt, the €4k credit card debt which is only at 0% until mid March. With the loan gone, then I could concentrate on putting all I can off the credit card and aim to be debt free this year. I know it might make more sense to target the credit card while its on 0% but I think as I have the opportunity to blitz the loan with the savings tied to it, I should do that one first.

I've realised today after looking at the spreadsheet that I have paid over €13,000 off the debt total, really delighted with that figure!

Hope you all had a fab weekend!

Disco_Dolly

Happy Monday DFW's,

The morning is flying by here. We are doing a water challenge in work as part of a health buzz for the new year and have to drink 8 glasses a day, I am struggling with the first glass here so not looking likely to hit my target today. I think I need to keep a litre bottle on my desk and keep refilling the glass!

I spent the evening thinking about my debt free plan, I'm obsessed in January with wanting to be debt-free, it must be the New Year New Me thing but I'll roll with it while I am so positive. I want to write down my plan to see if it helps me stay on track, so here goes:

Loan Balance - €4409.48
- Pay €200 per fortnight for next 3 fortnights pay
- March work bonus of €2,000 to be paid in full off loan
- Clear loan with savings balance of €2,000
This would mean loan paid off in full mid- March!

Credit Card - €4250 (0% until March 2017)
- Pay €150 per month for January, February & March
- Snowball after loan is clear, approx €500 per fortnight could be paid according to budget spreadsheet
This would mean credit card is fully paid off by end mid-June!

Its a very aggressive plan but I think its doable due to work bonus and savings tied to loan account. I could be debt free by June this year, that would be amazing! If I managed to do that I would have approximately €500 per fortnight free in my budget after all bills, I could technically save all that money and pay cash for a new car, wouldn't that be amazing?! I am really going to give it a go, new frugal me! I'll be sticking to Ynab and reminding myself of this plan over and over, I can do this! Lets see how it goes :A

Hope you all have a fab Monday, I'm off to dream about the new super debt-free me! :j

clare19811

You've made a huge dent in that debt, well done! I think the key is being organised and planning ahead. Sounds like you've got it covered

Disco_Dolly

clare19811 wrote: »

You've made a huge dent in that debt, well done! I think the key is being organised and planning ahead. Sounds like you've got it covered

Thanks clare19811, I feel like I can really make progress now if I stick to my plan. Organisation is definitely key, I am so easily distracted though :rotfl:

Disco_Dolly

Happy Tuesday DFW's,

Well I survived Blue Monday! Yesterday was an NSD, hoping to clock up a good few of those this week. I don't think I will need to spend any money until the weekend. My best friend is also on a budget buzz as she is currently changing from weekly pay to monthly pay so we are encouraging each other to be very frugal. I mentioned my plan to her about blitzing the debt by June so she said she'll be all frugal along with me as she is trying to sort out Christmas CC spends too! She doesn't think its a good idea to get rid of my savings though, she thinks I should keep them and pay off the debt for a few months longer, I'll decide in March. I could always build the savings back up when debt is gone. Savings are only €2K so should only take me a few months to get them back in place if I'm strict with myself.

I rang my credit union this morning to check loan balance as I pay through banking online and never actually go into the branch so I had an approximate balance. Anyway turns out my loan balance is €5.81 less than I though it was, its only little but every little counts

Off to update my signature with that tiny reduction!
Hope you all have a fab Tuesday

Disco_Dolly

Hello DFW's, hump day already!

Not much to report, yesterday was another NSD and I think today will be too. I have enough groceries and petrol so shouldn't need to spend on anything else. I am working through the freezer at the moment to use up everything we have before I do a grocery shop again, we should have more than enough until after next payday. I didn't realise we had so much stocked up in there.

Hope you all have a fab Wednesday :j

Disco_Dolly

Hi DFW's,

Yesterday was another NSD, I'm getting good at these now, I think its the Ynab effect! I'm second guessing every purchase and actively avoiding shops. Ynab is telling me I only have just over €40 left to spend after all bills are paid and I don't get paid again until 27th Jan! I've challenged myself to stay within that limit. I have enough petrol to last me until then and should have enough groceries except for bread, milk and fruit possibly. I did a huge grocery shop last Friday and am also working my way through store cupboards and freezer to use up what we have before we buy any more.

Ynab really does make you focus on your spending and staying within your budget, its clear to see what is available for each category and the challenge is sticking to that. I can see why now that everything looks possible on paper but reality spending is nowhere near what I thought it was. Previously I would just look at my bank balance and think I was grand to spend on stuff here and there, now I am checking Ynab and not spending. I can really see now how all those small spends add up and leave me with less to pay off debt, hoping to curb that bad habit with Ynab. I'm only a week into the trial so we'll see how my enthusiasm and cautiousness lasts! But I think its a great program, I can see myself signing up after the trial, must add the Ynab subscription cost to my budget next payday!

I had a parent information evening in DD's school yesterday evening and it was literally the most boring meeting ever, I struggled to stay awake. Tonight DD is at dance class and after I collect her I am hoping to have an early night, I'm shattered lately.

Hope you all have a lovely Thursday, not long til the weekend now