Ash's Debt Diary

The_Novacat

Morning all,

Long time forum lurker but only just decided to make an account to contribute!

So the last 12 months have been a bit rough financially. It's been a case of extended my overdraft bit by bit every month as I appeared to be spending more than I was earning. I couldn't pull it back as every month there happened to be something extra to pay for.

It came about initially as my and my girlfriend bought a house (which just about wiped us out, although we had a nice 20% deposit) and I changed jobs in the same month. I had to go 8 weeks without a payday due to the way the wages worked at my first job.
Then the following month my car broke down (£500 down the drain) and I received a letter from my first employers saying I owed them £400 for the volume of holidays I had taken in the first few months of the financial year.

Things are looking up now though! My new job pays much better, at least £400 more per month but sometimes more (sales commission). I also have a new car which should keep me going for a while, so there shouldn't be any unexpected repair bills anytime soon.

So I'm now going to start tackling my debts, as I would like to be debt free as soon as possible. I'm going to keep them updated in this thread to keep me motivated. My first priority though (after the 8 week no-pay incident) is to put together an Emergency Fund. I don't have one currently and I need something to fall back on should I need it.


Currently got:
Santander Loan (3.6% APR): £6800
Mortgage: £107,000
Ikano Loan (0% APR): £450
Student Loan: £20,000 roughly


I also currently owe the other half £1800 and between us we owe her parents about £6000. This was all borrowed towards the deposit of our house.


I would also like to save up £1000 to have as an Emergency Fund.


I'll keep this thread updated as I go for motivation