£46k in debt.....at 24.

System

YoungBusinessman wrote: »

Oh wow, congrats!!! :j A little lad or a girl?

A girl she's a month old today. I've got an almost 2-year-old girl too, I love a challenge

Yes it's definitely not a sprint but you're going in the right direction

tootallulah

Hi sorry I missed your last post. You are doing really well, don't get down hearted, this too will pass. Looking forward to seeing how you have done in May. Have you sold everything? If not get back on EBay it all adds up.

YoungBusinessman

Hey guys, how are we all this typical rainy day?? Least it meant i was in for a half day so i can catch up with MSE!! I have updated my sig, i have paid off over £10k in 5 months, down from £46,500 on the 20th November to £36,155 this morning....so i am feeling extremely motivated seeing that come down over 22% in just 5 months so im well on track for under 30k owed by the end of 2015.

Everything is sold, which is a shame as the holiday was paid on card (0% till August) and could have done with a few more sales to get a payment into that so its not such a big hit at once come August.

Work is picking up as the weather did(minus today obviously) so i will make back what iv lost in my half day this afternoon. Can someone point me to somewhere i can find out about the peoples pension that im paying into now? As i know nothing about it just seen it gets docked out my pay every fortnight. Having a carry on with HMRC aswel as they have my tax code at 703L which im told it should be getting changed to 1060L next payday(which iv been told 3 times now this tax year!!)

Anyway hope all is well with everyone, thanks for popping in, Hopefully smash this debt down quick and see use all on a savings board soon!

tootallulah

You are doing really well, many congratulations, I hope it isn't raining all week for your sake.

The percentages are looking great.

YoungBusinessman

Hey guys, thanks for stopping in. Few weeks since my last post, i have been lurking around these forums though. I have paid off the holiday so it gets it out the way. Although thats knocked current account down to £1,000. Payday tomorrow for 2 weeks work should see about £1,400 net. Hopefully another phone call to HMRC will get me on the right tax code. I mucked up a job at work(everyone makes mistakes,only human after all....!!) First mistake since serving my time, will cost me about £900 of work(had to redo the job...free).


So tomorrow current account should hit £2,400 with £1,600 minimum of income still to come in June but an eye watering £2,000 still to go out.

Wanting that current account upto £5,000 by the time winter comes round. Need some new work clothes soon just trying to hold off until i feel i wont miss the money....could be a while!! Hope everyone is well, think its a night of the forums and tv for me, shattered!! Thanks for reading, another post closer to debt free!!!!

tootallulah

i have been wondering how you are getting on. Well done, you are going to need that holiday I am pleased you have it paid off and in the bag. Shame about the mistake - we all do it occasionally. I think your idea of the £5k buffer for winter is a good one. If work clothes means PPE buy them now, nothing is more important than safety.

YoungBusinessman

Hey tootallulah,hows things with you? Your weight loss is fairly coming on!! Or should i say off.....
Yeh i cant wait for the holiday, going to try and push work/debt to the back of my mind for a week so i can enjoy myself. I mean PPE and all the rest that goes with it. I have everything just now just starting to get worn down/wrecked as a manual job and not replaced any of it since last year! The expense is always a one off few hundred pound hit, might hold off until i get 3 weeks holiday pay in July. Cant believe into June already.

in_need_of_direction

Can't believe how well you're doing. I agree with toots, you've worked so hard, make sure you get the best out of the holiday.

tootallulah

Hi YB many thanks for noticing the weight loss I have a long way to go but am pleased with progress so far. PPE buying in July looks good to me, it is SO important.

You are nearly a quarter of the way there, this is really good work, if you get as far as you can with it in the summer then you will have a bit of a buffer in the winter.

Looking forward to seeing where you are at the next update.

YoungBusinessman

Thanks for the replies guys! If you get the 100lb weight loss that's an incredible amount in a year.

Update so soon to say £1,600 net pay today, 200 more than expected which is just aswel because in offf tomorrow and Sunday, last 2 days off before I go away!! Time flying by.