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Debt free wannabee

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  • Tixy
    Tixy Posts: 31,455 Forumite
    I think that is the right decision. Hopefully you should be able to make a few changes to be able to increase your debt repayments a bit.

    I would cancel the payments in to the ISA and use any funds in the ISA to pay off the debts, starting with argos and creation.
    If you have a bit on an emergency fund in the ISA already then perhaps you could reduce the amount you pay in to just a token amount, at least until those 2 most expensive debts are repaid.

    Hopefully you should be able to cut the grocery cost quite a bit - this article may help - http://www.moneysavingexpert.com/shopping/cheap-supermarket-shopping?_ga=1.119059209.1677112238.1403174025
    and perhaps do something regarding the car/travel costs to put a bit more towards your debts each month.

    Is the other income line in your SoA guaranteed?

    Have you tried putting your figures through the snowball calculator (same site as the SoA) to see how long it will take you currently to repay those debts and compare that to your 5 year goal?
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
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