Is the situation as bad as I think it is?!

Pollygarter

Fab news Clockley. Amazing how quickly changes can be made which start to have a big positive impact isn't it?

I wish you all the best with your debt free mission. X

KiKi

It's great that you feel better about it. But just wanted to draw your attention to this from another poster above:

"At the moment, all you can confidently say is that each month you have approximately £2170 coming into the house, and £385 going out of the house on debt repayments. That leaves a whopping £1785 that must be going somewhere, so you need to find out where 'somewhere' is. Since your mortgage is paid off (congrats!), that's a lot of money to be going into a random 'somewhere' hole."


You mentioned that you might be able to put £40 a month to an emergency fund. Given your income, that seems very low if that's all your savings. Rather than only saving £40 and still having that debt (even though some of it's at 0%) if you post an SOA the lovely people here might be able to point out some really obvious and easy savings to help you release more money from your budget.

KiKi

dirkio78

Agree with the above. Looks like you have a lot of unaccounted spending. I did a poor quality soa here last week and the good people of this forum quickly pointed out I had a 700 quid blackhole. I have since done a realistic warts and all budget in ynab and found where it all goes. I'm not as well off month to month as I thought. Seems like maybe if you could account for every penny you spend you could get out of your predicament nice and fast because withough the usual burden of a mortgage there should be plenty of room for servicing debt.