Resolute

Resolute

Righto. 25 year old who's life is just completely stagnant, when there is no godly reason why it should be. So started July 1st and did a complete life overhaul. Going to try and use this to just keep a track of where I'm up to.

I graduated in 2012, just, coming out backwards through a bush would be putting it mildly. Took longer than it should and was what started me off being where I am today.

Fast forward 3 years, 5 jobs later and I'm in the hole to 25k~. Living at home taking one step forward and two back. There is no one to blame for it, it's all on me. So f*ck [STRIKE]you[/STRIKE] me. No more excuses, no more destructive activities, no more smoking, no more turning up to work with 3 hours sleep, no more leaving everything to the last minute and running from emergency to emergency.

Goal is simple. Pay of my debt, move out and have actual savings to be able to buy a house if I want to.

The bad;
Barclaycard: £5,150 (0% Feb 2016)
Natwest O/D £1,250
Natwest CC: £400
Nationwide CC £1,500
Nationwide OD £1,000
Nationwide Loan £7,100 (£225/m 8%)
Halifax: £1,900 (0% Feb 2016)
Tax: £8,000


Total: £26300
Cash: £2000

The Good;
I have a well paying job. Income varies but conservatively I bring home £3,000.

My expenses are pretty low, petrol is my biggest expense, I'm aiming to keep them all down to £500/m,

Resolute

Monthly Totals.

June 30th: -£26,300 (£2,000 cash)
July 31st:

minxy-x

Well done on deciding to sort it out!
Best wishes with your journey.

savingwannabe

Yay, Welcome from me too. Well done on tackling this. You invested in your education and I think that is v good. It will ensure a high future income for you so you will be better off then a lot of people.

SnowL

How goes the journey, Resolute?

Snow x

Resolute

Well last few months have been a bit of a rollercoaster. It never just rains.

Financials;
Barclaycard: £4900 (0% Feb 2016)
Natwest O/D £1,100
Natwest CC: £1000 (6%)
Nationwide CC £600
Nationwide O/D £0
Nationwide Loan £6400 (£225/m 8%)
Halifax: £2250 (0% Feb 2016)
Tax: £3500

Total: £ 19,750
Cash: £ 1000

I also have cash coming in on Tuesday, I think it's in the region of £8000.

Working on having £9000 cash on Tuesday. I will wipe out Natwest CC & O/D and Nationwide CC, and £3200 to my loan. Leaving £3000 as savings (moving out money)

I will say I'm aiming to be debt free by Christmas, but it's not set in stone, if it takes me another month or two then so be it, as long as I'm moving in the right direction I'm happy.

I am on the look out for my own place, the cost of moving out would only be around £350 more a month than my current costs, which I think is a necessary evil to move on with my life. Although this does depend on whats happening with work. Works been in flux recently. I'm hoping to be assigned to a new project in the next few months which will provide some more job security.

I also got fat.

I need to have my car serviced.
I need a new phone and laptop but I'm hoping for them to last to Xmas.
I need to go to the gym.

savingwannabe

Hey this is looking really good. You have lots of young'uns on this thread and you are all doing really well. Don't worry about getting fat. I'm a fatty too lol!!!!! A happy one, that needs to lose about 1 stone. I am trying to eat healthily this week and walk. So far I have been good.

Resolute

Well that's been a long 2 weeks but! I'm back to black baby!

Financials;
Barclaycard: £4900 (0% Feb 2016)
Natwest O/D £0
Natwest CC: £0
Nationwide CC £0
Nationwide O/D £0
Nationwide Loan £100 (£225/m 8%)
Halifax: £2250 (0% Feb 2016)

Total: -£7250
Cash: £11,250
Net: £4000

So I overpaid my loan and will get a settlement quote based on the remainder. I'm debating whether to pay the credit cards off now (0%) or wait till Feb. I'm leaning to just paying them off and just being done, be nice to have zero.

My tax is gone, I think, or at least it will be more than sorted out when October's invoice is paid.

I'm a little disappointed, I expected to feel more relieved, I haven't been net worth positive for like 5 years, the amount of interest I've wasted! I'm equal part annoyed as I am impressed at what I can achieve when I put my mind to something. Would've been nice to have that self-motivation gene some people have.

Now I need to look at savings. Help to Buy ISA is the obvious in December. Need to have a look at what's the best rates.

It''s also getting more pressing that I move out. It's utterly depressing the cost/standard of rentals.

Objectives;

1) Move out.
2) Go on a bloody holiday, even if a weekend away, long overdue.
3) £15,000 in savings (house deposit) by 31st March 2016.

Onwards and upwards!