No more putting it off

DeterminedToClear

Over the last few years I've spent a lot of time on this site, reading through the threads and being inspired by other people's success in facing their debts head-on. However, until now, I've never written anything - nor have I really faced my own debt. This weekend I've sat down and worked out exactly what I owe on credit cards and my overdraft and whilst I feel slightly sick at the sight of the total figure - £11,422 - I'm also relieved that I'm actually tackling this.

I'm really fortunate that I have a decently paid job and my husband is well paid too, so we're not in a position where we're about to lose the house, however, this situation is obviously not great, plus if anything were to go wrong I can see how easily things would spiral downwards.

My downfall is my lack of budgeting and a group of very lovely but very well-paid friends who have a lot more disposable income than me. But, enough of the excuses. I've drawn up my monthly budget and I'm going to be sticking to it even when it means missing out on dinners out and weekends away. My aim is to clear my NW CC as quickly as possible as that has the highest interest rate. Both Lloyds and Barclaycard are on 0% for a while so I'm paying the minimum on those until NW is cleared and then I'll start attacking them. My overdraft limit is £1750 and I'm almost always sitting near it by the end of the month. There is interest charged on the overdraft but I'm prioritising the CCs as the interest on those will be huge once the 0% period is over.

I'm really surprised how good it feels to get this all written out. Am now off to count the money in my change jar so I can take it to the bank in the morning!

janeypoo

Hello!

Good luck with your journey, I'll be keeping an eye in.

Try to keep that early days enthuisiasm for as long as possible, and prepare to get addicted to saving pennies.

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