Shifting this debt one £ at a time.

jwil

Made another couple of small payments:

1. [STRIKE]£1300[/STRIKE] - £1175 HS
2. [STRIKE]£85[/STRIKE] - £83 C1
3. [STRIKE]£600[/STRIKE] - £599 BC
4. [STRIKE]£1000[/STRIKE] - £998 SA
5. [STRIKE]£87[/STRIKE] - £85 MI
6. [STRIKE]£947[/STRIKE] - £945 LI
7. [STRIKE]£696[/STRIKE] - £634 HA
8. [STRIKE]£850[/STRIKE] - £850 JA

Total: [STRIKE]£5565[/STRIKE] - £5369

retiredandskint

Looking good jwil.

For the first time, for as far back as I can remember, money has gone into the bank account and it took the o/d below a thousand. I know it will go up during the month but it's definitely an improvement. I'm hoping to clear it by June and then crack on with the remaining cc. Who knows I could be debt free one day.

peaceandfreedom

jwil wrote: »

Made another couple of small payments:

1. [STRIKE]£1300[/STRIKE] - £1175 HS
2. [STRIKE]£85[/STRIKE] - £83 C1
3. [STRIKE]£600[/STRIKE] - £599 BC
4. [STRIKE]£1000[/STRIKE] - £998 SA
5. [STRIKE]£87[/STRIKE] - £85 MI
6. [STRIKE]£947[/STRIKE] - £945 LI
7. [STRIKE]£696[/STRIKE] - £634 HA
8. [STRIKE]£850[/STRIKE] - £850 JA

Total: [STRIKE]£5565[/STRIKE] - £5369

I'm curious, Jwil - what do these amounts represent - I don't mean you to outline full details but are they bills you are paying this month, this year? And are you paying them with ebay sales?

jwil

retiredandskint wrote: »

Looking good jwil.

For the first time, for as far back as I can remember, money has gone into the bank account and it took the o/d below a thousand. I know it will go up during the month but it's definitely an improvement. I'm hoping to clear it by June and then crack on with the remaining cc. Who knows I could be debt free one day.

:wave: hey retired! Hope you are well.

That's great news about the overdraft, fingers crossed for getting it cleared and cracking on with the credit card!

You'll definitely be debt free one day

peaceandfreedom wrote: »

I'm curious, Jwil - what do these amounts represent - I don't mean you to outline full details but are they bills you are paying this month, this year? And are you paying them with ebay sales?

It's a bit difficult to explain, but I get it in my head

If I can pay the amounts listed here, it is where my finances become easier to manage. So it's the point where the minimum payments become more manageable, and then I'll be able to really focus on snowballing properly and I won't be constantly juggling so much and robbing peter to pay paul.

Does that make any sense? I know what it means, but not sure I've explained it properly

This month in particular it's mainly ebaying funding it as I'd already made my payments when I totalised.

jwil

Made another couple of small payments:

1. [STRIKE]£1300[/STRIKE] - £1156 HS
2. [STRIKE]£85[/STRIKE] - £82 C1
3. [STRIKE]£600[/STRIKE] - £598 BC
4. [STRIKE]£1000[/STRIKE] - £997 SA
5. [STRIKE]£87[/STRIKE] - £84 MI
6. [STRIKE]£947[/STRIKE] - £944 LI
7. [STRIKE]£696[/STRIKE] - £633 HA
8. [STRIKE]£850[/STRIKE] - £850 JA

Total: [STRIKE]£5565[/STRIKE] - £5344

jwil

I sold a few more things on ebay yesterday so have paid a little more today.

I've also redeemed £10 from a survey site. I will have to check my balances on a few more as I think I'm close.

I converted a load more auctions to buy it now this morning, so hoping for a few more sales from that.

I put a casserole in the slow cooker this morning, so that will be ready when I get home tonight.

I need to sort some more stuff out to go on tomorrow probably. A couple of my items have quite a few watchers so I'm hoping for some good sales there.

peaceandfreedom

jwil wrote: »

It's a bit difficult to explain, but I get it in my head

If I can pay the amounts listed here, it is where my finances become easier to manage. So it's the point where the minimum payments become more manageable, and then I'll be able to really focus on snowballing properly and I won't be constantly juggling so much and robbing peter to pay paul.

Does that make any sense? I know what it means, but not sure I've explained it properly

Yes, I think I get it, Jwil. When the above amounts are cleared you will be more than breaking even every month, so your budget will balance?

I can see why you have set yourself this target because life will be so much easier when you have a steady budget. You are making great progress Jwil. :T

jwil

peaceandfreedom wrote: »

Yes, I think I get it, Jwil. When the above amounts are cleared you will be more than breaking even every month, so your budget will balance?

I can see why you have set yourself this target because life will be so much easier when you have a steady budget. You are making great progress Jwil. :T

Yep that's it It's at that point that I'll probably start looking at things like YNAB to help me shift it all even quicker.

tattycath

YNAB? Sorry can you please explain what that is in idiot terms? Lol

peaceandfreedom

tattycath wrote: »

YNAB? Sorry can you please explain what that is in idiot terms? Lol

It stands for You Need A Budget - this thread should tell you all you need to know:
https://forums.moneysavingexpert.com/discussion/5140086

I love it myself.