7 months take 2

edited 27 April 2015 at 3:56PM in Debt free diaries
3 replies 532 views
7months7months Forumite
9 Posts
edited 27 April 2015 at 3:56PM in Debt free diaries

Its time for a new diary as a tried and failed effort last year needs to be resurrected again for this year....

I am technically not in debt as my Shares ISA portfolio outweighs my CC debts but I am looking to clear these out as soon as I can and feel what its like to be completely debt free.... I got into this right old mess by not being true to myself in fact I am not sure I even know who I am anymore....

So its time to knuckle down, get rid of the stone I have managed to pick up and start being positive. I dont think anyone knows my situation and friends ask why I dont buy a house... I need to be debt free by year end and there is nothing stopping this from happening except me....

I owe:
£6 600 to barclays
£4 000 to Halifax
£3 500 to overdraft...
£1 100 to house mate (not a debt but an expense thats coming)
= £15 200

My finances are more dire than I expected but apart from my nasty habits I live a relatively frugal life....

I did have had an expensive month in April with another expensive month coming in May due to my housemate prepaying rent and now moving out which means I owe her £1100 when I get paid...

I am honestly a little taken a back as I didnt really consider how high my overdraft is.... Anyways.... I want this lot cleared out by the end of the the year - not the easiest ask but we will get there....

On top of that I want to reign myself in and stop drinking and gambling and in general turning into a miserable old sod....

Hopefully my next post shows a big chunk of the above paid off....

Overdraft: 1,456.77, CC: 9,800, Loan: 4,646.79 Total: £15,903.56


  • beanieloubeanielou Forumite
    82.9K Posts
    Part of the Furniture 10,000 Posts Mortgage-free Glee! Name Dropper
    Shiny new diary :)
    Keep posting!
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    MFW. Finally mortgage free February 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • TrixxibellTrixxibell Forumite
    699 Posts
    Eighth Anniversary Combo Breaker Car Insurance Carver!

    Thought I would say hi, I'm also determined to make a big difference in the same time scale of 7 months.

    Good luck with your goal xx
    3rd LBM July 2014: Debt [STRIKE]£31,416.68[/STRIKE] Down To: [STRIKE] £23,403.43[/STRIKE] [STRIKE]15th July: £25,709.83[/STRIKE] 26th March: £31,229.68
    CC £0 :j WFTC £1660, SLC £6600, Car £18,654, Emergency Fund £1,000 :T
  • 7months7months Forumite
    9 Posts
    I have been really poor on updting this but the progress has been good. I havent been on holiday and apart from having to buy a new mobile and ew Laptop there havent been too many big purchases... What that means is:

    I owe:
    £6 600 is now £4,000 to barclays
    £4 000 is £3,800 to Halifax
    £3 500 is now £0 (this could change depending on how aug goes)to overdraft...
    £1 100 to house mate is £0 (not a debt but an expense thats coming)
    = £15 200 is now £7,800

    This does look exceptionally good but I did sell £2,400 worth of shares so it more like £5,600 reduction in the past 4 months paychecks equivalent of £1,400 a month which is exceptionally pleasing to me. I have also anded a new job expected to start in Sept which will give me close to £1,000 extra a month in take home and I hope to save £2,500 a month....

    Finally working close to 70 hours a week for the past 8 months is starting to pay off.....
    Overdraft: 1,456.77, CC: 9,800, Loan: 4,646.79 Total: £15,903.56
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